Product Lifecycle

What is the product lifecycle?

The product lifecycle refers to the series of stages a product goes through from its initial development to its eventual decline and discontinuation. In clinical research and healthcare, this term often applies to pharmaceutical products, medical devices, or treatments, and it encompasses the entire journey of a product, from discovery and development to commercialization, usage, and post-market monitoring.

Why is the product lifecycle important?

The product lifecycle in clinical research and healthcare is a critical framework for managing the development, commercialization, and post-market monitoring of drugs, medical devices, and treatments. By understanding and managing each stage effectively, organizations can maximize product value, ensure patient safety, and navigate regulatory requirements, ultimately improving healthcare outcomes.