In HIT Consultant, Within3 CEO Lance Hill describes how pharma’s top oncology challenges – high demand, intense competition, and costly R&D – are being addressed with industry-specific technology. What’s driving the need for tech for pharma oncology?
The oncology market accounts for about a third of the pharma industry’s product pipeline. With oncology drug sales set to top $390 billion by 2027, life science companies are aligning efforts to prioritize this critical market opportunity ahead of their competitors.
But such efforts are expensive, time-consuming, and fraught with complexity. “In this nuanced landscape, pharmaceutical companies play a vital role in driving advancements in cancer care,” writes Hill. “To navigate these challenges effectively, integrating insights management technology has emerged as a crucial factor in the relationship between the oncology market, the pharma industry, and patients.”
Hill explains why Insights management technology accommodates the complexity of life science processes and workflows, uniting what used to be considered disparate processes for more effective strategies.
When pharma organizations manage these complex activities in one place…they can begin to turn the tide on the challenges they’re facing.
As Hill points out, “technology is built to enable the efficient use of resources…but insights management technology prioritizes human contributions: meaningful collaboration and knowledge exchange, resulting in data-driven insights that further innovation for the benefit of patients.”
Read the complete article at HIT Consultant.