Trust in the pharma industry is up among consumers, but slipped for the biotech sector in an unusual flip of sentiment about the two industries, according to Edelman’s annual Trust Barometer research.
Consumer trust in the pharmaceutical industry rose five points to 54%, while trust in biotech and life sciences dipped two points to 56%, compared to a year ago.
But that’s not the only switch this year. The review also found that healthcare providers made a comeback as trusted sources, with a 10% increase year-over-year. However, employers and businesses both fell 9% when consumers were asked about their importance in keeping people healthy.
Pharma’s trust increase is the latest in several years of seesawing consumer opinions — low before the pandemic, spiking up during the Covid years, and then slipping again the past two years.
Clik here to view.
Courtney Gray Haupt“We saw trust drop following Covid, but it seems to have come back, especially given a year when we had so much news about new treatments and drugs,” said Courtney Gray Haupt, Edelman’s US health practice leader. “Obviously weight loss, which has been front and center, but also menopause and women’s health, migraine and the promise of what’s to come in Alzheimer’s disease.”
Biotech fell into what Edelman calls “neutral territory,” as did health tech, which also fell from 57% to 56%. The slightly lower scores may be related to the rise of AI, Haupt said.
“A lot of stories we’ve seen about the business environment question, especially with health tech, the use of AI,” she said. “There’s a lot of room for education, explaining how and why AI is helpful.”
When asked about specific innovations for AI in health, 42% of people rejected its use for patient interactions, while another 32% said no thanks for drug development and 31% for medical diagnosis.
