Why KOL Interviews are Integral to Market Research in the Pharmaceutical Industry

1. Why KOL Interviews are Integral to Market Research in the Pharmaceutical Industry Credibility, proof, and awareness have long been highly valued qualities in the pharmaceutical industry. The pharmaceutical sector has seen significant change over the last few years, with stricter regulations, monumental innovations, and an increased demand for tailored products. Such a scenario has stressed the need for players in the industry to work with Key Opinion Leaders (KOLs) in their market research efforts. KOL interviews present a way to build credibility and increase public knowledge of the many products and portfolios that pharmaceutical businesses have to offer. In this blog, we will discuss why KOL interview is an integral part of market research in pharmaceutical industry. What are KOL interviews? Before we discuss the importance of KOL interviews and the types of KOL interview questions that you must develop, first we must understand the nature of the interviews. Healthcare professionals with substantial knowledge in particular therapeutic areas of the pharmaceutical sector are known as KOLs of the industry. They are primarily independent scientific and medical professionals who advise pharmaceutical firms on a variety of tasks, from pre-clinical and clinical stages of drug development research to clinical trials, regulatory approval, and product launch. Establishing relationships with knowledgeable clinicians and healthcare professionals in your target market or among your key stakeholders is a key component of KOL engagement. By doing so, you can gain their opinions and other insightful information that could help you improve your business’ competitive edge. Advantages of KOL engagement Here are the three main advantages of KOL interview for pharmaceutical market research: KOLs are essential to pharmaceutical companies’ marketing and communication initiatives because they can shape other healthcare experts’ views and lend credibility.  KOL involvement provides organizations with the right direction and assistance on technical issues, marketing, running clinical trials, and the regulatory process as they create new products.  KOLs can assist businesses in identifying unmet requirements and market gaps, so they can take advantage of excellent chances because of their ongoing interactions with patients and other professionals. How to identify KOLs for your research program  Now that you understand the significance of KOL engagement in life sciences market research, it is equally important to know how to identify the ideal KOLs for your research program. Here are the three factors to consider when identifying KOLs for your research:

2. Therapeutic Area expertise: Look for experts in any therapeutic area related to your research subject. KOLs are those who have produced publications, presented their findings at forums, and/or have been tied with prominent academic hospitals or disease state centers. Knowledge about adverse medical cases: KOLs generally specialize in complex diseases that come with a higher relapse risk and need subsequent therapy. Global influence: KOLs, in most cases, generally receive international referrals. As a result, they treat patients from across the globe and have been affiliated with multiple countries and global physician associations. Final word    The need for life sciences market research has significantly grown over the last decade. The first step to successful medical market research is to hire the best pharma market research company. When looking to conduct a KOL interview, look no further than Unimrkt Healthcare. Our efforts are fuelled by a team of highly qualified and experienced life sciences researchers. We bring out the perfect blend of service delivery with meaningful insights. To know more about our medical market research services, call +91-124-424-5210 or +91-9870-377-557 or email sales@unimrkthealth.com.