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.
Published on Insights Association, we shared how MCDA can be leveraged to handle small sample sizes, is easy to set up and uses fixed product profiles that allow each characteristic to be evaluated individually and assigned a weighted score. While not widely used in pharma market research today, it has proven applications in healthcare including risk-benefit assessment, HTA and portfolio analysis decision-making.