Ethical Challenges in Pharmaceutical Marketing: A Multidimensional Analysis of Healthcare Industry Practices
DOI:
https://doi.org/10.56294/mw2023119Keywords:
Pharmaceutical Marketing, Healthcare Industry, Ethical Challenges, Descriptive statisticsAbstract
Pharmaceutical marketing plays a crucial role in shaping healthcare practices, influencing both medical professionals and consumers. However, ethical concerns have emerged regarding deceptive advertising, financial incentives for healthcare providers, and the exploitation of vulnerable populations. The objective is to assess how various marketing strategies influence public and healthcare professionals' ethical perceptions of pharmaceutical industry practices and identify areas for improvement in regulatory frameworks. Independent variables include Direct-to-Consumer Advertising (DTCA), Financial Incentives (FI) to healthcare providers, Transparency of Drug Information (TDI), Regulatory Compliance (RC), and Public Trust (PT) in the pharmaceutical industry. The dependent variable is the Ethical Perception of Pharmaceutical Marketing(EPPM),measured by the perceptions of healthcare professionals and patients on the ethical practices in pharmaceutical marketing and their trust in the industry. Data is collected through surveys of 306 healthcare professionals and 216 patients, along with interviews with pharmaceutical executives, using descriptive statistics and regression analysis in SPSS 25. Regression analysis reveals significant correlations between pharmaceutical marketing practices and public trust. Descriptive statistics were performed to identify relationships between revealed varying levels of ethical concerns, particularly related to DTCA and financial incentives. The findings suggest that increased transparency, adherence to regulations, and ethical advertising could improve industry practices and enhance public confidence in pharmaceutical companies.
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Copyright (c) 2023 Malathi H, Rohini, Laxmidhar Maharana (Author)
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