How to unlock the numbers in niche indications by using Multi-Criteria Decision Analysis
If you’re in a highly specialized area, such as MedTech or rare diseases, you’ll be only too familiar with the challenges of working with small sample sizes. Qualitative insights are important but when go/no go decisions are at stake, you may need a more data-driven approach. But, how can you obtain robust market data for decision-making when your target population and treating physicians are limited?
Having worked with leading pharma companies over the years, our team recognizes the issues that small samples present. Since we never want to sacrifice analytical rigor, especially when key milestones in product development are involved, we realized this was a dilemma we wanted to tackle. Always keen to explore (and validate) new research techniques, we’re recommending a creative approach that addresses small HCP samples and delivers big value. Here, I’ll explain how leveraging a little used tool in pharma market research – Multi-Criteria Decision Analysis (MCDA) – can reap a big impact.