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Report Overview
The United States healthcare advertising market reached a value of almost USD 22.84 billion in the year 2023. The market is further expected to grow at a CAGR of 4.00% between 2024 and 2032 to reach a value of almost USD 29.11 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- In 2022, the total healthcare spending in the US was USD 4.5 trillion or USD 13,493 per person.
- The largest source of healthcare funding in the country in 2022 was the Federal government.
- According to the Census Bureau, there are gaps in health insurance coverage by race and ethnicity, which necessitates a strong demand for healthcare awareness and advertising among the uninsured.
Competitive Landscape
The report gives a detailed analysis of the following key players in the healthcare advertising market in the United States, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds. Several companies are adopting AI and machine learning to create more personalised and effective marketing strategies that can aid United States healthcare advertising demand. They are deploying AI chatbots and conversational AI to engage with both patients and healthcare professionals (HCPs) as these tools allow for deeper interactions between HCPs and pharmaceutical companies.
Key Industry Players
Johnson & Johnson, Inc
Established in 1886, this company is a prominent multinational corporation known for its diverse offerings in pharmaceuticals, medical devices, and consumer health products. The company offers an extensive portfolio that includes items ranging from baby care and skincare to high-end medical devices, making it one of the largest healthcare enterprises worldwide, and contributing to the United States healthcare advertising industry revenue.
Pfizer Inc
Pfizer, founded in 1849, is one of the leading global pharmaceutical companies headquartered in the United States. It is known for its groundbreaking contributions to medicines, vaccines, and therapeutic solutions, The company gained significant recognition for its role in the development of the COVID-19 vaccine in partnership with BioNTech.
Merck & Co., Inc
Merck & Co., Inc., also known as MSD outside the U.S. and Canada, was established in 1891 and ranks among the largest pharmaceutical firms globally. The company specialises in prescription medications, vaccines, biological therapies, and products for animal health, which can boost the growth of the United States healthcare advertising market.
Other major players in the market are GlaxoSmithKline plc., Eli Lilly and Company, Novartis AG, Sanofi-Aventis U.S. LLC, AstraZeneca, F. Hoffmann-La Roche Ltd, Bayer AG, and Bristol- Myers Squibb Company, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
United States Healthcare Advertising Market Report Snapshots
United States Healthcare Advertising Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the healthcare advertising market in the United States attained a value of nearly USD 22.84 billion.
The market is projected to grow at a CAGR of 4% between 2024 and 2032.
The market is estimated to witness a moderate growth in the forecast period of 2024-2032 to reach around USD 29.11 billion by 2032.
The major drivers of the market are rising advertisements for drugs, growth opportunities offered to several pharmaceutical marketers, and the rising number of health-conscious consumers in the country.
The key trends guiding the growth of the market include the rise of multichannel marketing and targeting consumers with local advertising.
Pharmaceuticals (small molecule drugs) advertising market, biopharmaceuticals market, vaccines market, and over-the-counter drugs market are the various product types in the market.
In the United States, the goal of healthcare advertising is to increase awareness regarding specific health issues and conditions as well as about the availability of procedures and drugs in the country.
The major players in the United States healthcare advertising market are Johnson & Johnson Services, Inc, Pfizer Inc, Merck & Co., Inc, GlaxoSmithKline plc., Eli Lilly and Company, Novartis AG, Sanofi-Aventis U.S. LLC, AstraZeneca, F. Hoffmann-La Roche Ltd, Bayer AG, and Bristol- Myers Squibb Company, among others.
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