Know The Impact Of Drug Marketing
Everything has turned out to be a business now including the life of a human being. Have you ever noticed a medical representative visiting a doctor while you are in waiting outside for your turn of consulting? If so, they are there to promote the products from their respective drug companies. This is another such big business which is referred to as the drug marketing or the detailing marketing where doctors take a chance to know about the new drugs along with its benefits and side effects. In return, he gets a lot of free drug samples as well as other attractive gifts. Further, the specialist starts to prescribe these medicines to his patients or visitors.
There are many competitive drug companies who are just ready to afford the sum needed for developing an easy solution for almost every health problem. It has been noticed that the yearly amount spends on advertising these prescription drugs in all the media channels has simply elevated from $3.4 billion to around $5.5 billion and is certainly expected to rise only. Mostly, they focus on the old aged people while advertising because they are already susceptible to develop many health disorders.
The goal behind the drug-specific ads
This can be further classified as
- The product entitlement. This includes the naming of the drug along with the health condition it handles. Moreover, the pros and cons of using it are also explained in a balanced manner. Usually, the potential consequence of using this item is detailed at the end of the ads which is much difficult to be interpreted.
- And the reminder, where it just gives the drug name but does not go for describing the associated risk information with it.
Even though many of the academic medical centers restrict the business of advertising drugs, still this practice goes on by considering the personal visit. A recent analysis conducted by the FDA on the mean market share of the drug for eight diseased categories like depression, diabetics, and other disorders showed that
- The sale of detailed drugs decreased only by 2 percent from the previous 20 percent whereas that of the non-detailed type slightly increased by 0.9 percent.
- This was mainly because of the major policy changes brought about in the medical centers which included changes in the salesperson registration and the corresponding training requirements.
What do you need to realize?
Whatever content the ads promote, try to understand that these are only concerned about selling the products. However, beware of trading of these products via the Gatesway software.