Healthcare Advertising Global Market Report 2024

The healthcare advertising market size has grown strongly in recent years. It will grow from $42.14 billion in 2023 to $45.1 billion in 2024 at a compound annual growth rate (CAGR) of 7%. The growth observed in the historic period can be attributed to several factors, including the increasing awareness of healthcare, the rise of telehealth services, innovations in the pharmaceutical industry, the escalation of healthcare costs, global health crises, and heightened competition among healthcare providers. These elements collectively contributed to the growth and development of the healthcare advertising sector during the historical period.

The healthcare advertising market size is expected to see strong growth in the next few years. It will grow to $57.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to rapid digitalization, advancements in genomic medicine, the expansion of remote patient monitoring, a heightened emphasis on mental health, and growing concerns regarding health data privacy. Major trends expected in the forecast period include the promotion of digital transformation, the advancement of telehealth services, advertising for health and wellness apps, the utilization of blockchain for enhanced data security, and the integration of chatbots and AI-driven interactions in healthcare advertising strategies.

The anticipated rise in telehealth adoption is poised to drive the growth of the healthcare advertising market. Telehealth, involving the use of digital technologies for remote healthcare services, has become increasingly prevalent. Healthcare advertising leverages telehealth to reach patients, deliver care services irrespective of physical location or mobility constraints, and execute targeted campaigns to boost patient engagement and improve overall healthcare services. An example comes from August 2022, where a report by the Australian Digital Health Agency revealed that between 2020 and 2.02 trillion telehealth services were provided to 18 million patients in Australia, with over 95,000 practitioners utilizing telehealth services. Additionally, a report from the National Library of Medicine in April 2023 indicated an increase in the average daily level of telemedicine usage in the US from 19.6% in 2021 to 25.7% in 2022. The escalating adoption of telehealth is a key driver for the growth of the healthcare advertising market.

Major players in the healthcare advertising market are directing their efforts towards innovative healthcare advancements, such as DeepIntent Copilot, to elevate their advertising strategies. DeepIntent Copilot, an AI-powered tool integrated into the DeepIntent healthcare advertising platform, provides actionable insights and real-time media data-based recommendations. In September 2023, DeepIntent, a US-based healthcare advertising platform, launched DeepIntent Copilot, aimed at optimizing campaign strategies, maximizing media investments, and enhancing performance and efficiency in healthcare advertising. The tool leverages unique connected datasets to deliver actionable insights and recommendations tailored to healthcare-specific goals, transforming healthcare advertising by providing adaptability to real-time market changes and reducing time to positive ROI.

In November 2023, Accenture plc, an Ireland-based information technology company, successfully acquired Concentriclife for an undisclosed amount. This strategic acquisition bolsters Accenture's capabilities in the healthcare industry, enabling the provision of more integrated and intelligent healthcare solutions. The acquisition addresses the growing demand for data-driven insights and analytics in the healthcare sector. Concentriclife, a US-based healthcare marketing agency specializing in life sciences, contributes to Accenture's goal of offering comprehensive and innovative solutions to its clients in the healthcare space.

Major companies operating in the healthcare advertising market report are Alphabet Inc, Verizon, WPP plc., PUBLICIS GROUP, Syneos Health, MCCANN WORLDGROUP, Omnicom Group, Magnite Inc, CMI Media Group, Ogilvy Healthworld LLC, Digitas Health, Response Mine Interactive, Inc., SAGEFROG MARKETING, Practice Builders, McCann Health Worldwide LLC, ProperExpression, Maricich Health, Communications Strategy Group, Thrive Internet Marketing Agency, Intrepy Healthcare Marketing, ParkerWhite Brand Interactive, Distill Health LLC, High Level Marketing, Inc., Dobies Health Marketing, Healthcare Success, LLC, Thrive Internet Marketing Agency.

North America was the largest region in the healthcare advertising market in 2023. The regions covered in the healthcare advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the healthcare advertising market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The healthcare advertising market consists of revenues earned by entities by providing services such as primary care services, diagnostic services, rehabilitation services, maternity and women's health services, and telemedicine services. The market value includes the value of related goods sold by the service provider or included within the service offering. The healthcare advertising market also includes sales of pharmaceuticals, medical devices, diagnostic tools, personal care products, health monitoring devices, and health education materials. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Healthcare advertising is the strategic promotion of healthcare products, services, or organizations directed at a specific target audience. This multifaceted process employs a variety of strategies and tactics to attract and retain patients, bolster the reputation of healthcare providers, and ultimately contribute to improved patient outcomes.

The primary types of healthcare advertising encompass traditional, digital, public relations, unique branding and awareness, internal marketing, physician referrals, employer marketing, and others. Traditional healthcare advertising involves the use of conventional marketing methods, including print ads, TV, radio, and direct mail, to promote healthcare services and products. This approach can be directed at both consumers and healthcare professionals through methods such as detailing. Healthcare advertising employs various technologies such as personal data tracking, telemedicine, artificial intelligence, and others, and finds applications in diverse sectors including biotechnology companies, medical insurance, weight loss and fitness products, among others.

The healthcare advertising market research report is one of a series of new reports that provides healthcare advertising market statistics, including healthcare advertising industry global market size, regional shares, competitors with a healthcare advertising market share, detailed healthcare advertising market segments, market trends and opportunities, and any further data you may need to thrive in the healthcare advertising industry. This healthcare advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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