ISSUES AND WAY FORWARD FOR THE MALAYSIAN HALAL PHARMACEUTICAL MARKET

The market for certified Halal products is expanding rapidly, both domestically and internationally, with Malaysia emerging as the world's leader and reference point. As the forefront of the global Halal fraternity thanks to the tireless efforts of the Halal Industry Development Corporation (HDC), Malaysia has been widely regarded as the gold standard across the Islamic world, which is a critical component in promoting the Halal industry to the rest of the world. Thus, the goal of this study is to investigate the issues and way forward for Malaysian halal pharmaceutical market. The method of this study is through literature review analysis. Pharmaceutical companies should indeed focus on product innovation in addition to standards. For the time being, they are primarily focused on developing halal alternatives for existing medications. Future growth will be dependent on thinking "halal first" and developing products for the Muslim consumers.