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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.
United States Healthcare Advertising Market Analysis
The United States healthcare advertising market is driven by the growth opportunities offered to several pharmaceutical marketers by online direct-to-consumer drug advertising. On account of this, they have started shifting their promotional spending to digital promotions such as product websites, online display advertising, and social media campaigns. In addition to this, Google has permitted the advertisement of prescription drugs, addiction services, HIV home tests, and clinical trial recruitment across the country, further aiding the growth of the United States healthcare advertising industry.
The industry is further invigorated by the advertisement of the medications, which is done after obtaining the certification permitting the usage of relevant keywords. Moreover, many pharmaceutical companies have begun advertising through different channels like multiple synchronised communication channels to boost their consumer reach. Apart from this, technological advancement over the years has empowered consumers to find relevant information concerning various health-related conditions and the various available treatments. On account of this, the industry is witnessing an increase and is expected to expand over the forecast period.
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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