Real world evidence: Is it driving a new archetype in the new cancer drugs segment?
The potential for real world evidence is on the rise, especially in the new cancer drugs segment. The appropriate utilization of real world data has the potential to improve the entire drug development process. To withstand the global competitive pressures, leading players in this segment are now looking forward to investing in analytics capabilities.
Moreover, with the rapid development and innovative transformations taking place in this sector, the new cancer drugs segment will possibly be at the forefront of how real world evidence analytics impacts the process of drug development. Also, by expanding their industry collaborations and acting decisively, drug manufacturing firms can play a key role in actively shaping the role of real world evidence in the new cancer drugs development segment, thereby, accelerating innovation in next-gen therapies.
The Importance of Real World Data in Drug Development
As the pharma industry continues to evolve, patients and drug development firms tend to play a more crucial role in the market landscape. Consequently, pharma companies are now focusing on commercialization at an early stage in the drug development process. Real world data helps drug manufacturing firms to demonstrate the value of their products to multiple stakeholders across the industry. Not only does it help them to achieve this goal but also turns out to be increasingly crucial in ensuring long-term, commercial success.
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The client- is a leading player in the pharmaceutical sector in the U.S. The client’s team is dedicated to the discovery, development, and commercialization of novel drugs that are used to treat cancer.
The client who is well-known for their contribution to the development of cancer drugs faced numerous challenges in comparing the cost and outcomes associated with the drugs manufactured by them. Moreover, all the past analysis conducted by the new cancer drugs manufacturer were limited to clinical outcomes due to their inability to leverage real world data. Being constrained by the data capacity and possessing limited analytic skills the cancer drugs manufacturer missed out on valuable insights which could have otherwise impacted their drug development process. To look into such challenges and deploy proactive measures to overcome them, the new cancer drugs firm approached Quantzig to leverage its sophisticated analytic capabilities to better understand drug efficacy over different patient cohorts.
To know more about our analytics solutions for the pharma industry, contact us today.
Value Delivered to the Client
Quantzig’s real world evidence analytics experts worked with the client to undertake an in-depth analysis of the new cancer drugs development pathways. The initial and most important part of this engagement was to leverage the use of real world data sources to create the groundwork for applying advanced analytics and data manipulation techniques.
As a result of our solutions and recommendations the client now possess:
- Broadened analytic capabilities
- Enhanced insights to drive the future value of their business
- Self-service analytic skills