The pharmaceutical industry has long struggled with a poor reputation among the American public, with trust in drugmakers dwindling over the years. Public spats with lawmakers over drug prices and a growing distrust of vaccines have only added to the industry’s woes. In a recent poll, improving public perception and trust emerged as a top priority for the pharma industry in the coming year.
However, there may be a glimmer of hope on the horizon in the form of Generation Z. Born between 1997 and 2012, Gen Z is quickly becoming a key demographic for the pharmaceutical industry as they enter adulthood. While the younger generation remains skeptical of the industry, there is a potential opportunity for drugmakers to rebuild trust and establish a better reputation in the years to come.
According to a study by Burson, only 43% of Gen Z respondents believe that pharma companies care about them. This lack of trust can be attributed to past experiences where young, healthy patients were not a priority for pharmaceutical companies. However, the landscape is changing as Gen Z becomes more engaged in their healthcare, particularly in the wake of the COVID-19 pandemic.
Gen Z is placing a greater emphasis on holistic health, prioritizing both their physical and mental well-being. This shift presents an opportunity for pharma companies to connect with Gen Z as loyal consumers. Despite the low levels of trust, 55% of Gen Z respondents believe that pharma companies could meet their needs and play a role in their healthcare.
While there are challenges to overcome, such as the lowest level of trust in pharmaceutical companies among Gen Z compared to other generations, there are also bright spots. A report from Tebra found that 35% of Gen Z prefer name-brand drugs over generics, citing trust and familiarity as key factors in their decision-making.
Gen Z’s digital nativity presents a unique opportunity for pharma companies to engage with this generation. With a strong presence online, Gen Z is open to dialogue with pharma and more accepting of mental health discussions. This aligns with the industry’s focus on developing new drugs for depression, schizophrenia, and sleep disorders.
Pharma marketers targeting Gen Z must be intentional about their communication strategies, meeting the younger generation where they are online. It is crucial to use language, tone, and visuals that resonate with Gen Z while navigating the challenges of a highly regulated industry. Despite the hurdles, Gen Z is open to trusting in healthcare solutions and empathetic voices that allow them to make informed decisions.
In conclusion, while the pharmaceutical industry faces challenges in rebuilding trust among Gen Z, there is a unique opportunity to establish meaningful connections with the younger generation. By understanding Gen Z’s preferences and engaging with them authentically, pharma companies can pave the way for a more positive reputation in the future.
