What is Placebo Effect in pharmaceutical industry?

In the pharmaceutical industry, a placebo is a substance with no therapeutic effect, used as a control in clinical trials. It helps researchers determine if the drug being tested is more effective than no treatment at all.
*Example:* In a clinical trial for a new headache medication, half of the participants might receive the actual drug, while the other half receive a placebo, which looks identical but contains no active ingredients. If the drug group reports significantly more relief than the placebo group, it suggests the drug is effective.
*Interesting Fact:* The placebo effect is powerful; patients receiving placebos often report real improvements in their condition, highlighting the impact of expectations and perception in treatment outcomes.
more about placebo
• The Placebo Effect Aud...