Insights into Trends and Challenges of the Pharmaceutical Industry : the Role of Scientific Business Research

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dc.contributor.authorArāja, Diāna
dc.contributor.institutionRīga Stradiņš University
dc.date.accessioned2023-12-11T14:45:01Z
dc.date.available2023-12-11T14:45:01Z
dc.date.issued2023-12-11
dc.description.abstractPurpose: As an important player in the healthcare sector, the pharmaceutical industry has received increased attention in the context of the coronavirus disease caused by the SARS-CoV-2 virus (COVID19) pandemic and medicine shortages. Given the profitability of the pharmaceutical industry, there is a rising focus on business analysis from a wide range of business analysts, as well as consulting and auditing companies. However, the role of scientific research in the analysis of the pharmaceutical industry has been unclear in recent years. Therefore, this study aims to provide insight into the role of scientific business research in the development of the pharmaceutical industry. Methodology: To achieve the research aim, a general review was conducted using Academy of Management journals’ resources, the Web of Science platform, and the Scopus database for the selection of scientific articles. In addition, the views of leading business analysts, as well as consulting and auditing companies, on trends and challenges in the pharmaceutical industry were considered within this framework. Findings: Overall, the trend over the last 15 years has been towards less fundamental research on the development of the pharmaceutical industry. It can be assumed that business analysts, as well as consulting and auditing companies, have taken over this function. However, it is probably the lack of fundamental theoretical research that is one of the determining factors for the uncertain trends and hidden challenges of an outwardly thriving industry. Research limitations: This research provides an overview of trends and challenges in the pharmaceutical industry. In-depth factor analysis is beyond the limitations of this study. Practical implications: This study encourages researchers to focus more on fundamental business research in the pharmaceutical industry, as empirical local market research currently dominates. Originality: The study identified a research gap in fundamental business research on the pharmaceutical industry and proposes to strengthen this research to support the healthcare sector and people’s health.en
dc.description.statusPeer reviewed
dc.format.extent16
dc.format.extent325638
dc.identifier.citationArāja, D 2023, 'Insights into Trends and Challenges of the Pharmaceutical Industry : the Role of Scientific Business Research', Journal of Business Management, vol. 21, pp. 48-63. https://doi.org/10.32025/JBM23002
dc.identifier.doi10.32025/JBM23002
dc.identifier.issn1691-5348
dc.identifier.urihttps://dspace.rsu.lv/jspui/handle/123456789/15047
dc.identifier.urlhttps://journals.riseba.eu/index.php/jbm/article/view/114/267
dc.language.isoeng
dc.relation.ispartofJournal of Business Management
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectPharmaceutical industry
dc.subjecttrends
dc.subjectchallenges
dc.subjecthealthcare sector
dc.subject5.4 Sociology
dc.subject3.1 Basic medicine
dc.subject5.2 Economy and Business
dc.subject3.3 Health sciences
dc.subject1.2. Scientific article included in INT1 or INT2 category journal of ERIH database
dc.subjectGeneral Business,Management and Accounting
dc.subjectGeneral Medicine
dc.subjectPharmacology, Toxicology and Pharmaceutics(all)
dc.subjectSDG 3 - Good Health and Well-being
dc.subjectSDG 9 - Industry, Innovation, and Infrastructure
dc.subjectH Social Sciences
dc.subjectR Medicine
dc.subjectT Technology
dc.titleInsights into Trends and Challenges of the Pharmaceutical Industry : the Role of Scientific Business Researchen
dc.type/dk/atira/pure/researchoutput/researchoutputtypes/contributiontojournal/article

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