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 

Navigating the Nuances of Europe’s MedTech Industry

Richard Houlihan, CEO of EirMed, explores topics related to EUDAMED, the European Databank for Medical Devices, including the key pain points and concerns MedTech companies encounter related to EUDAMED and...

Pharma, Technology, and Healthcare in the New Normal

Brian Canestraro, General Manager at Intercept Pharmaceuticals, discusses leadership lessons and tips to the impact of the COVID-19 pandemic on the way that Pharma conducts clinical trials and interacts with...

Traversing the Medtech Regulatory Landscape in the Interest of Patients

Dr. Bassil Akra, CEO of AKRA TEAM GmbH, takes a deep dive into the new approval process for medical devices in the EU and shares how his company is supporting...

Scanning for Health Indicators and Risks Through Your Smartphone

Vlado Bosanac, Co-Founder & Head of Strategy and Revenue Growth at Advanced Human Imaging, dives into the implications of increased integration of tech and data into daily life for the...

Virtual MSL/Sales training programs and events

Top 10 ways to leverage the Impetus InSite Platform® for internal MSL/Sales training programs and events

Top 10 Benefits of Virtual Advisory Boards

As the world is slowly starting to open up again, it can be tempting to rush back to the pre-pandemic days of in-person advisory boards. However, it would be foolish...

Amplifying Opinions of Patients & Caregivers for Higher Quality of Care

Pam Cusick, Senior Vice President of Rare Patient Voice, dives into diversity, equity, and inclusion in Pharma and clinical trials; ways to enhance the patient’s voice in their treatment journey...

The Future of MedTech: Streamlined Clinical Data Collection & Management

Jón Ingi Bergsteinsson, Co-founder & CCO at SMART-TRIAL, explores the barriers to, and benefits of, digitalization of clinical operations and trials in the MedTech industry, plus much more!

Digital Opinion Leaders (DOLs): Who are they and how can Pharma engage them?

With our growing dependence on social media, Digital Opinion Leaders are becoming an increasingly important stakeholder group for Pharma teams to engage and consult. But who are these DOLs, and...

Engaging Patients “Just-In-Time” with Machine Learning

Omri Shor, Co-founder & CEO of Medisafe, explores how Pharma companies can use digital therapeutics for advancing and supporting the patient journey, how new digital health tools are driving deeper...