Oncology is a crucial driver of innovation and growth in today’s pharmaceutical market. Cancer drug launches are at record levels, while annual spending on oncology therapeutics is growing in double figures worldwide.
Precision medicine, immunotherapies, cell therapies, biomarkers and genetic profiling are transforming the oncology treatment paradigm. That is good news for patients, health systems and the pharmaceutical industry. Real innovation drives competition, treatment diversity and better health outcomes.
The flipside is an increasingly crowded oncology market in which premium pricing and rising patient numbers are making payers nervous. Meanwhile, R&D pipelines remain heavily invested in immuno-oncology and other cancer drug candidates. All of this raises the stakes for successful oncology market access.
For cancer drugs addressing high unmet need with clearly differentiated added value, the opportunities are still plentiful, notes Erin Solano, Senior Engagement Manager at Syneos Health. Paul Tyahla, senior reputation and risk management strategist at Syneos Health, points out, though, that differentiation now has to be both clinical and economic, including evidence of cost offsets.