Sales professional in any industry plays a vital role in transferring the information of the higher management to the potential customer. Their importance gets further increased when they are involved in the sale of drugs or medical devices. Drugs are an essential requirement and thus the selling of the drug is highly responsible as well as a technical job. Pharma reps add value to the healthcare system by providing information about the latest research to the doctors. This helps medical professionals in making informed decisions.
Oncology Market all set to become the most vibrant market in the healthcare industry
Cancer is one of the most common causes of death. Oncology is considered as the largest therapeutic category with more than 200 different types of cancer. With the latest diagnostics methods and advanced treatment options available, the survival period of the patients suffering from cancer has been increased. The oncology market was valued in 2017 at $97,401 million which is all set to rise to $176,509 in the year 2025 with CAGR of 7.6%. A large number of drugs for treating cancer are still in pipeline.
Oncology: Highly restrictive sector for pharmaceutical Sales Professionals
A study conducted in 2013 marked oncology as the most restrictive category for pharmaceutical sales professionals. In the United States, almost 65% of the oncologists restricted the visit of pharmaceutical representatives. However, these restrictions are not blanket restrictions. Oncologists still believe that the pharma reps add value to their knowledge and oncologists ready to listen to the latest research in oncology. Oncologists generally open the door for those sales professionals that have a new drug launched or several effective drugs in their portfolio.
Why pharma reps considered vital for dissemination of information?
Cancer is a complex disease and accurate diagnosis of cancer is tough. The even tougher task is to effectively treat the disease or at least increase patient survival and improve quality of life. Following are situations where pharma reps add value to the oncology healthcare system:
New drug discovery: Various drugs are in pipeline for treating cancer. Some are approved by USFDA and are waiting to get approval in other countries including India. Pharma reps add value to the knowledge of oncologists by detailing the safety and efficacy of new drugs.
New guidelines by oncology associations: Guidelines regarding the treatment regimen have been updated from time to time. Pharma reps pass on this updated information to oncologists keeping them up-to-date.
New indication of an old drug: Sometimes new researches provides the efficacy of the old drug in a new indication. For instance, drugs for lung cancer is found to be effective in breast cancer. This information is important for the oncologist to decide the treatment of patients.
Providing Patient Education Materials: Apart from providing important technical information to doctors, the pharma reps also provide patient education materials thereby reducing the time of oncologists to explain everything in detail to patients.
Use of advanced digital system: Pharma reps uses advanced digital system such as amination for the mechanism of action, comparative analysis of two treatment regiments and statistical analysis to provide more detailed information to oncologists.