Challenges and Opportunities in the Halal Pharmaceutical Industry in Malaysia

Nasihah Naimat, Mimi Sofiah Ahmad Mustafa, Nasreen Miza Hilmy Nasrijal and Ida Rahayu Mahat

Information Management and Business Review, 2024, vol. 15, issue 4, 73-78

Abstract: Following the global significance of halal pharmaceutical products, Malaysia has positioned itself as a key manufacturer to increase industrial demand. This study examines Malaysia's halal pharmaceutical industry by internalizing consumer preferences for halal pharmaceuticals and the associated complexities. The data derived from literature reviews were subjected to documentation analysis. Consumer preference was substantially influenced by religious beliefs, product quality, and health concerns. Halal certification, cross-contamination concerns, and regulatory compliance were the key issues underlying halal pharmaceutical products. Overall, this empirical work expanded the current literature with pivotal insights into the future developments of halal pharmaceuticals in Malaysia. Industry players, policymakers, and stakeholders can utilize such knowledge to develop strategies that enhance the halal pharmaceutical industry and meet Muslim consumers’ preferences.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:rnd:arimbr:v:15:y:2024:i:4:p:73-78

DOI: 10.22610/imbr.v15i4(I).3565

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