Pharmaceutical and Life Sciences Real World Evidence Market Outlook 2021-2030: Comparison of Randomized Clinical Trials and Real World Evidence
In fact, on an average, the journey from establishment of initial proof-of-concept to product launch, takes around 10-12 years.
- In fact, on an average, the journey from establishment of initial proof-of-concept to product launch, takes around 10-12 years.
- Moreover, regulatory approval is dependent on the results of randomized clinical trials (RCTs), which are estimated to account for a staggering 40% of the pharmaceutical industry\'s budget in the US.
- Presently, big pharmaceutical companies are estimated to spend nearly USD 20 million on an annual basis, on generating real world evidence to support their respective clinical development programs.
- The study presents an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this domain.\nThe USD 4.5 billion (by 2030) financial opportunity within the real world evidence market has been analyzed across the following segments:\n'