What the Client Wanted
Compare the cost and efficiency of probiotic supplements against competing products.
Leveraged real world evidence data to determine the drug efficiency and compared the outcome with similar products on the basis of quality and drug effectiveness.
Summary of the Probiotic Supplements Industry
In today’s world, consumers across the globe are conscious about their snacking habits and are increasingly adopting healthier snacking options. The rising awareness of the benefits of probiotic supplements is considered to be a major driver in the market. This trend is gaining popularity owing to the regular consumption of probiotic supplements prevents the growth of harmful bacteria inside the digestive tract; thereby, enhancing the absorption of nutrients.
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The lack of widespread awareness in developing economies acts as a major challenge for players in the healthcare industry. The lack of awareness regarding the benefits of such drugs results in an ambiguity in the drug usage and refrains clinicians from recommending people to consume such products in developing countries. In order to overcome such challenges, leading probiotic drug manufacturers are now employing real world evidence analytics as a part of their business processes.
Healthcare Industry Challenges
- Drug approval stagnation: Stricter guidelines and drug-specific issues have been major factors contributing to the stagnation of drug approvals. Such factors pose major challenges for probiotic supplement manufacturers and decrease the time-to-market for the drugs.
- Patient-centric healthcare: Factors such as technological trends and healthcare innovations are driving the shift towards patient-centric healthcare. This has increased awareness among the global population resulting in more informed patients who are likely to play an active role in any treatment plan. However, the actual challenge lies in leveraging the new trends and shifting focus to directly partner with consumers.
About the Client
A healthcare industry major specializing in the manufacturing of probiotic supplements.
To compare the effectiveness and cost efficiency of their probiotic supplements, the healthcare industry client approached Quantzig to leverage real world evidence analytics. The main objective of the engagement was to categorize patient cohorts based on the usage of probiotic supplements and use clinical outcomes to compare the cohorts. It included real world evidence data such as – clinical quality measures, drug efficacy, and demand. Furthermore, with the help of real world evidence analytics, the client wanted to enhance future business growth and create a much broader dataset incorporating real world evidence data.
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Summary of our real world evidence analytics engagement
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With the help of Quantzig’s real world evidence analytics, the healthcare industry client generated much-needed insights that helped them discover trends in treatment pathways. The client was also able to gain detailed insights into customer preferences and develop specific drugs to cater to the growing demand. This helped the client to develop solutions that improved the R&D hit rate.
Real World Evidence Analytics Solution Predictive Insights
Quantzig’s real-world evidence analytics solutions help revolutionize the way drugs are approved, healthcare is delivered, and epidemics are managed. In order to capitalize on this potential, healthcare industry firms have to evaluate the relevance of technologies to their trials and build the competencies to maximize their benefits. Real world evidence also helps companies in combining technological expertise with clinical trials to develop sustainable solutions.