I'd love to see the success rates of biopharma development assets compared to other industries - e.g. Software/Hardware products. We lose track in our industry of the insanely high risks we run with every development project. We also forget that when things do fail (and they do, much more often than they succeed) that almost all the work done up until that point goes in the trash - which isn't the case in any other industry.
Over the last ten years, the success rate of clinical trials has decreased, from a high of 24.5% in 2015 across Phase 1, 2 and 3. The chart below shows the chance of success of reaching market for drugs in each phase of clinical trials over the past ten years. Maximising on the innovative ecosystem, ensuring successful investment and optimising clinical trial methodology to shorten trial duration or reduce the white space between phases is essential to successful outcomes in clinical development. Success rates appear to be improving based on data from 2022 and 2023. Read the latest from IQVIA in their Global Trends in R&D 2024 report: https://lnkd.in/eNHKxEgv #ClinicalDevelopment #MedicalAffairs #ClinicalTrials
