Pharmafile Logo

Navigating the rapidly changing oncology treatment landscape: how digital tools can help

With rapid growth comes growing pains…

- PMLiVE

The field of oncology is rapidly growing and evolving. In 2022, global spending on cancer medicines was approximately 196 billion USD, and this number is forecasted to reach $375 billion by 2027. In fact, for the past five years, the number of treated patients with cancer has seen an average annual increase of 5% globally (1). However, with rapid growth comes growing pains.

Specific challenges facing the oncology field

1. Increased competition and evolving standard of care

New competitors are entering the market at a rapid pace, and competition is intensifying. There are currently more than 2,000 oncology products under development. Emerging biopharma companies are responsible for over 70% of these products (up 20 percentage points from 2017) while Big Pharma has seen a declining share of the oncology pipeline, at only around 20% of products currently under development (down 15 percentage points from 2017). This competitive intensity tends to focus on smaller patient populations with multiple treatment options.

With a larger number of treatable patients, improving survival rates, more clinical trials, and increased focus on real-world evidence, the definition of ‘standard of care’ is continuously changing. As a result, treatment algorithms are becoming more complex, leading to variable uptake and use of new treatments across regions, clinics, and prescribers.

Further, the time advantage traditionally afforded to new cancer therapies has been substantially reduced due to advances in our understanding of the underlying tumor biology and the emergence of novel treatment modalities. Occasionally, the advantage disappears well before the period of exclusivity ends (2)…

Read the full article here.

This content was provided by Impetus Digital

Company Details

 Latest Content from  Impetus Digital 

Biotech Innovation in the Time of COVID-19

Chris Garabedian, CEO of Xontogeny, dives into biotech and digital health innovation, current industry gaps and obstacles, how to encourage biotech entrepreneurs, AI & machine learning, and much more!

Using Technology to Improve Patient Experience

Dyan Bryson from Inspired Health Strategies discusses Patient Focused Drug Development, best practices for designing diverse and patient-centric trials, and how to use technology to improve the patient experience. She...

Top 10 ways that Medical Affairs teams can leverage the Impetus InSite Platform®

Some of the most popular and innovative ways of using our cutting-edge asynchronous and synchronous virtual tools for Medical Affairs teams.

Supporting Mental Health During a Global Pandemic

Sam Duboc, Chair & CEO of MindBeacon, explores virtual care and telehealth for treating depression, anxiety, addiction, and other conditions; mental health issues brought on by COVID-19; and how to...

Driving Digital Transformation in Healthcare Using AI

Tom Lawry, National Director for AI, Health & Life Sciences at Microsoft, shares how he helps life science companies implement innovative analytical solutions, the current barriers to enterprise-wide adoption of...

Blockchain in Healthcare: Predictions for the Post-COVID World

Dr. Jody Ranck, EVP, Global Strategy at Ram Global, discusses the novel ThEA diagnostic platform for rapid COVID-19 testing. He will also share his expertise on digital health, innovation, connected...

AI-Driven Customer Journey Mapping in Biopharma

Philip Poulidis (CEO & Co-founder) and Orchid Jahanshahi (VP, Life Sciences) from ODAIA explores AI and big data for customer journey mapping and dynamic segmentation, data integration, omni-channel customer engagement,...

Virtual MSL training on the Impetus InSite Platform®: A Customer Story

How a client used our award-winning virtual engagement and learning tools to produce a series of online training modules.

Digital Health for Improving Care in Disadvantaged Populations

Peter Wood (Co-founder & COO) and Dr. Raj Padwal (Co-founder & CEO) from mmHg Inc. explain how their Sphygmo virtual care system can be used to monitor blood pressure, glucose,...

The Future of Digital Pills

Valerie Sullivan, President and CEO at etectRx, dives into digital pills in healthcare and clinical research. Among many other things, we discuss how Pharma companies can benefit from the ability...