In the recent years, the pharmaceutical industry players have become extremely concerned about the challenges pertaining to supply chain efficiency. With the growing therapeutic needs of the consumers, leading pharmaceutical distributors are facing challenges in terms of quality issues and pricing pressures. Also, with the regulatory concerns affecting the pharmaceutical supplies space, leading pharmaceutical distributors are emphasizing the need for real world evidence analytics to strengthen their portfolio. An analysis of the real world data helps pharmaceutical distributors gain better prescriptions on the treatment patterns and ensure the availability of their products across the supply chain. Also, pharmaceutical distributors can leverage real world evidence analytics to devise drug commercialization strategies. With the help of real world evidence analytics, leading pharmaceutical distributors can determine the unmet needs of the patients and evaluate the utilization of drugs among the target segments.
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To better understand treatment patterns, renowned pharmaceutical distributors are approaching companies like Quantzig. The real world evidence analytics solution offered by Quantzig helps businesses understand regulations and interpret data from patient records to improve the accessibility of the drugs and the pricing levels. Also, pharmaceutical distributors can further devise new strategies to target niche market segments and evaluate their ROI based on real world data analysis.
The Business Challenge
A renowned pharmaceutical distributor with a considerable number of distribution units spread across the globe was facing predicaments evaluating their business efficiency. The client wanted to leverage real world evidence analytics to improve clinical outcomes and enhance the accessibility of the drugs. In addition, the client wanted to profile the customers based on their medical records and identify the promising drugs. The client further wanted to understand the market effectiveness and develop their products based on customer preferences.
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Real World Evidence Analytics Solution Benefits
With the help of real world evidence analytics solution, the client saw numerous benefits in terms of patient-level data across geographies. Also, the real world evidence analytics solution helped the client understand the treatment patterns of the patients and their effect on their economic outcomes. Furthermore, with the help of this real world evidence analytics engagement, the client was able to compare the cost and benefits of the drugs with that of the competitors. Also, the engagement assisted the client to compare the competing products regarding the quality and efficacy of care.
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Real World Evidence Analytics Predictive Insights
- Improve efficiency of clinical trials
- Identify potential development areas and gain real world data on products
- Identify new treatment patterns and target niche market segments
- Improve the time to market for medicines
- Gain a better understanding of disease progression patterns and the additional costs associated with treatments