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Oncology Market Research – Exciting and Challenging

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Why is Oncology Market Research an Exciting Place to Be?

 

IQVIA reports the number of oncology drugs in clinical development has expanded by 45% over the past ten years.

The oncology global pipeline has 631 unique molecules in late-phase development.

Oncology growth of 6-9% per year is forecast through 2021.

By the end of May, 2018 21 oncology and hematology drugs were approved by the FDA. During the same time period in 2017 there were 19 approvals and in 2016 13 approvals. From 2016 to 2017 the total number of FDA approvals almost tripled from 22 to 58, and 2018 is on track to best 2017.

The rapid use of immuno-oncology drugs reflects their remarkable clinical impact and expansion of indications.

What are the Challenges of Being in Oncology Market Research?

 

The breaking down of the patient cohort into ever smaller groups means the sample size could skew results and offer unrepresentative insights.

Is there even a need for segmentation research when the drugs themselves are already segmented by patient type on a clinical basis?

Treating patients with a terminal diagnosis or who are close to death requires a sensitive and professional interviewer. Researchers must be very careful about acquiring information without offending or offering false hope.

Clarity of the researcher’s role in the process is essential to maintain boundaries. Market researchers are not therapists or medical professionals.

Flexibility in approach can include inaccessible patients in the research, and while not strictly adhering to research protocol will allow for insights.

Broadening the research to include assessing the support network and where the gaps are in service and treatment can be invaluable to drug marketers.

Trying to understand the lives, the opinions and the needs of oncology patients through market research is essential  and valuable work. Interested in hiring an Oncology Market Researcher? Are you a market researcher interested in working in pharmaceuticals or biotech? Contact Smith Hanley Associates’ Market Research Practice Lead, Lindsey Bartlett at lbartlett@smithhanley.comor 312-529-7586.

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