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 

Women in Leadership: Barriers & Opportunities in the Life Science Industry

Allison Gaw, Executive Director, Corporate and Business Development at Chinook Therapeutics, discusses women in STEM, effective leadership, cross-border collaboration during COVID-19, the future of healthcare, and much more.

Highlighting Patient Voices, Workforce Well-Being & Health Literacy During & After the Pandemic

We explore the importance of health literacy, patient voices, and workforce wellbeing during COVID-19 with Deborah Collyar (Patient Advocates in Research), Cathryn Gunther (Population Health Alliance) & Catina O'Leary (Health...

Leveraging Consumer Insights & Innovative Technologies to Disrupt Healthcare Engagement

Brent Walker, Senior Vice President of Marketing and Analytics, Patient Bond, dives into the world of psychometrics. We explore the roles of AI and machine learning in extracting psychometric insights,...

Holistic Digital Health Engagement and Risk Quantification

Matt Park, Vice President & General Manager (North America) at Dacadoo, explores digital health engagement and health risk quantification in the COVID-19 era, including the roles of gamification, big data,...

Can Science Save Us?

Dr. Mark Poznansky, Founder/Blogger at Saved By Science explores the importance of improving health literacy among the general population, along with the scientific and technological innovations that he believes could help save...

Virtual HealthTech conference powered by Impetus Digital: A Customer Story

In this customer story, we summarize one of the pilot projects conducted using our new and award-winning platform: InSite Event™.

Future-Proofing Healthcare and Medicine

Bogi Eliasen, Director of Health at Copenhagen Institute for Futures Studies, discusses the future of genomics, personalized health, healthcare data, digital health, and more.

AI in Computer Vision Technology and the Impact on Healthcare

Moshe Safran, CEO at RSIP Vision USA, delves into a range of topics around computer vision, AI, and deep learning in medical imaging, surgery, and healthcare, including the work that...

Live Webinar: COVID-19 Has Changed Live Events Forever!

We invite you to join Impetus Digital and the Medical Affairs Professional Society (MAPS) on February 19, 10 am EST, for a thought-provoking webinar around the future of virtual events.

Health IT and Clinical Informatics for Improving Patient Care

Dr. Donald Rucker, National Coordinator at the Office of the National Coordinator for Health Information Technology (ONC Health IT), explores all things medical and clinical informatics and “Health IT.” Among other...