The Problems (and solutions) of Real World Data in the Pharma Industry

The vast amount of real-world data (RWD) offers a great opportunity to create more profitable and beneficial goods. Utilizing RWD technology may help you find unmet regional needs, deploy a sales team more effectively, and create a value offer. The RWD demands of medical device companies do have a problem, in any case. There is no such thing as flawless data; data is a digital representation of what occurs in a real-world healthcare context. Data is not magic. 

The researcher may choose to analyze what is happening in the real world using data directly from the market rather than clinical trials as the source of data. Longitudinal observational databases are created to facilitate the analysis of such data. These have de-identified patient medical data that spans many patients over an extended period of time, which is a far larger scale than is generally used in clinical studies. This makes it possible to study rare diseases, alter treatment methods, and do other things. Contrary to clinical studies, the researcher won’t collect all pertinent data or randomly assign patients to a certain therapy. To ensure that the data is free of any information that may be used to recognize a person, the de-identification of this data must comply with country-specific regulations for protecting personal healthcare information. 

Real World Data is still a rather unstandardized field. While different steps are being attempted to combat this, they frequently sacrifice key benefits and limits unique to particular databases, necessitating a customized approach. 

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