Abstract

CASE STUDY OF THE METFORMIN IN PHARMACEUTICALS MARKET

Sandip Kumar*, Devashish Jena, Vikash Kumar Patel, Himanshu Jaiswal Shivendra Mishra, Himanshu

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Abstract

Pharma marketing refers to the processes, procedures, and operations pharma firms employ to market and sell their products, be it medication, treatment, or medical devices. Pharma marketing is an essential component of the healthcare sector as it brings medicine to medical practitioners and patients. Pharma marketing operates on a variety of channels such as direct marketing, internet campaigns, direct sales representatives, training programs, and affiliation with medical professionals. The drug industry presents unique challenges in promotion because promotion of drugs and treatment is strictly regulated. Such regulations ensure that that which is communicated is truth, fair, and ethical so that there will be minimal misleading material or excessive control. Drug promotion then focuses on conveying science-based facts about the benefits and limitations of treatments, brand building, and doctor and patient education. In the past decade, growth in online platforms has left its footprint on pharma industry marketing. Social media, email marketing, webinars, and virtual meetings are increasingly being utilized to connect with customers, including doctors. Furthermore, growth in personalized medicine and advanced healthcare technology is influencing how pharmaceutical companies engage with customers. In conclusion, drug marketing is an integral component of the healthcare system with the goal to improve patient outcomes, broaden access to treatments, and promote pharmaceuticals in a cost-effective and safe manner in increasingly complex and regulated society. This abstract represents the key issues of pharmaceutical marketing, focusing on the role of ethical practice, regulation, and development of marketing trends in the field.

Keywords: Introduction , Drug profile, Market survey.