M3 and the world of healthcare market research.
We are frequently asked by our research panel of healthcare professionals what happens before and after they participate in market research studies. Others, instead, ask: “Why should people participate in medical research and share a valued opinion?”
Market research is a vital tool for pharmaceutical companies to identify needs (both for clinicians and patients) and answer questions.
Even before they start physician market research focusing on developing a new drug or tool, they will have questions on where specifically they should concentrate their development capabilities.
Then, once a product is approaching the launch phase they’ll be looking to the promotion of the product, and how best to communicate its benefits to the doctors they hope will prescribe it.
After release, market research is often used to better understand what penetration the product is having, and to check that it’s being used in the right way, and prescribed to the right patient groups.
When most pharmaceutical companies start to explore market research trends and the options on the market, they will engage a research agency who will then help them develop questionnaires and establish the best approach.
The role of M3 Global Research
M3 Global Research has a panel of over 2 million healthcare professionals globally.
Over the years our research panel members have worked extensively with us supplying their valued opinions. This relationship ensures we get quality data to report back to our clients in the pharmaceutical industry.
The studies can take on several different forms. The most common at M3 are the quantitative online studies where we build the surveys online and send links to our contributors. Qualitative studies, instead, can differ in:
- face-to-face interviews
- interviews carried out over the phone
- virtual focus groups
Learn more here.
Less frequently, we make use of more innovative techniques, such as ethnography, app studies, or even scenarios where doctors will need to record themselves. Our community members decide themselves in which studies they can contribute with their valued opinions.
After gathering the information and sending it back to our client in the format requested, the data is analyzed. This will help inform decision-making about the product and how it is perceived.
In the second part of this post, we’ll share our members’ experiences and we will answer the question: “Why should people participate in medical research?”. We will explain why M3 Global Research is a leader in healthcare market research trends.