Background: Researchers are increasingly motivated to move toward patient-centric drug development. TransCelerate has identified improved "information exchange" as an important component of creating a more satisfying clinical trial experience for patients and their health care professionals (HCPs). Methods: Patients, sponsors, sites, and HCPs were engaged through surveys, interviews, and/or advisory boards to capture the current status of information exchange and identify possible future practices between the major stakeholders within the clinical research ecosystem. Results: Data suggest that patients have numerous desires and preferences for information exchange during their clinical trial journey that are not commonly met. Various opportunities exist to improve the clinical trial participants' experiences by improving information exchange practices across various stages of the participant's journey. Conclusions: A shift in industry focus toward more comprehensive information exchange with trial participants has the potential to positively impact many patients.