According to the latest report by IMARC Group, titled US Healthcare Advertising Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027. The US healthcare advertising market reached a value of US$ 21.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 28.1 Billion by 2027, exhibiting a CAGR of 4.81% during 2022-2027.
Healthcare advertising represents the process of developing marketing strategies for enhancing patient care by creating an open line of communication between them and healthcare organizations. It generally relies on highly segmented and targeted online as well as offline strategies to boost engagement and accelerate enterprise growth. In line with this, healthcare advertising is used to spread awareness among consumers towards the availability of advanced drugs and procedures and various diseases across the US.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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US Healthcare Advertising Market Trends:
The growing utilization of several synchronized communication channels by pharmaceutical companies is primarily driving the US healthcare advertising market. Moreover, the inflating popularity of generic and me-too drugs, the expanding geriatric population, and numerous technological advancements are further catalyzing the market growth. Apart from this, the increasing investments by healthcare organizations in advertising via television and print ads, and the introduction of telemedicine, electronic health records, remote medical monitoring, etc., are acting as significant growth-inducing factors. Additionally, Google, one of the widely used search engine, has allowed advertisers to post advertisements for addiction services, human immunodeficiency virus (HIV) home tests, prescription drug clinical trial recruitment, etc., which is bolstering the market growth in the country. Besides this, the rising number of digital promotions, such as product websites and social media campaigns, is projected to fuel the US healthcare advertising market in the coming years.
Competitive Landscape With Key Players:
The competitive landscape of the US healthcare advertising market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Johnson & Johnson Services, Inc.
- Pfizer Inc.
- Merck & Co., Inc.
- GlaxoSmithKline plc.
- Eli Lilly and Company
- Novartis International AG
- Sanofi S.A
- AstraZeneca PLC
- Hoffmann-La Roche Ltd. (Roche)
- Bayer AG
- Bristol- Myers Squibb (BMS).
Key Market Segmentation:
The report has segmented the US healthcare advertising market on the basis of product type.
Breakup by Product Type:
- Pharmaceuticals (Small Molecule Drugs)
- Over-the-Counter (OTC) Drugs
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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