Reports
United States Healthcare Advertising Market: Regional Analysis; Key Segmentation and Scope; Industry Opportunities and Challenges; Market Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Industry Events and Developments; Competitive Landscape, 2023-2028
United States Healthcare Advertising Market Outlook
The Procurement Resource United States Healthcare Advertising industry report extensively evaluates important segments, developments, factors that are propelling the market, and the competitive landscape. The report also examines the United States Healthcare Advertising market trends and other key market attributes.
The United States Healthcare Advertising market size attained a value of around USD 21.80 billion in 2021. Furthermore, the industry is anticipated to grow at a CAGR of roughly 4.8% during the forecast period of 2022-2027 to obtain a total value of approximately USD 28.88 billion by 2027.
The rise in prescription drug advertisements is propelling the industry's growth. The United States, specifically California, followed by New York, Texas, Florida, and Pennsylvania, are the highest category spender by region, driving the United States Healthcare Advertising market demand.
Industry Definition and Segmentation
Healthcare advertising includes advertising healthcare and pharmaceutical product range to the common people to disseminate knowledge involving various illnesses and their curative methods and medication accessible in the market. The process creates, plans, and executes advertising for its clients. It is used in many applications, including medical insurance, OTC medications, hygiene products, pharmaceutical manufacturers and brands, prescription medications, fitness and diet items and services, pharmaceutical equipment, and corrective lenses and eyewear.
The United States Healthcare Advertising industry comprises segments by market breakup by product Type (Pharmaceuticals (Small Molecule Drugs) Advertising Market, Vaccines Market, Biopharmaceuticals Market, Over-the-Counter Drugs Market, Others) and Region (California, New York, Texas, Florida, and Pennsylvania).
California, New York, Texas, Florida, and Pennsylvania Regions are Driving the Growth of the Industry
According to the United States Healthcare Advertising market forecast, California, followed by New York, Texas, Florida, and Pennsylvania, hold the largest share in the region due to extensive production of prescription drugs and the strong presence of advertising healthcare agencies.
The increase in prescription medicine ads is driving the sector. In addition, the services are used to spread knowledge on various ailments, health concerns, the availability of new drugs, and procedures in the area, propelling the industry forward. Regulation of the healthcare advertising sector is supported by organisations like the Federal Trade Commission, state consumer protection organisations, and others. This is in turn impacting the United States Healthcare Advertising market price.
Additionally, internet direct-to-consumer medicine advertising provides various pharmaceutical marketers with growth potential. As a result, they have begun refocusing their promotional efforts on digital transformation, including product websites, online advertising or display ads, and social media campaigns, which will help in the United States Healthcare Advertising market growth.
Also, Google has approved the national marketing of prescription medications, addiction treatment programmes, HIV home testing, clinical trial enrollment, and advertising channel, which has contributed to the industry's expansion.
Category Management Studies
Medical Marketing is a branch of marketing which is usually a business-to-consumer service. Healthcare searchers can get physical and online medical services thanks to marketers and healthcare providers. This type of marketing is generally used by medical specialists that provide cosmetic treatments like aesthetic medicine, cosmetic surgery, dental surgery, or dermatology.
Advancements in the Sector, Further Driving the United States Healthcare Advertising Market
The advertisement of the medications is aiding the industry after obtaining the permit to use relevant keywords. Moreover, many pharmaceutical firms are currently utilising several synchronised communication channels to increase their market reach, which is expected to promote the industry's expansion. Furthermore, the sector's technical improvements have pushed customers to obtain pertinent information on various medical disorders and their treatments. Owing to the following factors, the industry is witnessing expansion and is likely to result in the United States Healthcare Advertising market development.
The critical zones the United States Healthcare Advertising Market is divided into are Latin America, the Asia Pacific, North America, Africa and the Middle EastEurope.
United States Healthcare Advertising Market Key Players
- Johnson & Johnson
- Pfizer Inc
- Merck & Co., Inc
- GlaxoSmithKline plc.
- Eli Lilly and Company
Market Landscape
The significant players in the United States Healthcare Advertising Market heavily invest in promotions and advertising their drugs and healthcare range. The participants also employ various methods, including collaborations, mergers, and acquisitions.
Key Initiatives by Companies
- In September 2020, the latest TV campaign to encourage clients to bring excellence in client servicing, innovation in product and value-for-money services after Care Health Insurance launched re-branding.
- On July 12, 2021, an independent public relations business Barokas Communications, based in Seattle, representing several of the area's tech companies, was bought by Finn Partners, a global marketing and communications firm in New York.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 United States Healthcare Advertising Market Snapshot
7 Industry Opportunities and Challenges
7.1 What Drives the Healthcare Advertising Market in the US?
7.1.1 Digitalization and other Technological Advancements
7.1.2 Increasing Presence of Generic and Me-too Drugs
7.1.3 Government Regulations Supporting DTC Advertising
7.1.4 Launch of New Drugs
7.1.5 Increased Consumer Reach through Mobile Advertising
7.1.6 Other Key Drivers
7.2 Market Challenges
7.2.1 Trust Gap between Consumers and Advertisers
7.2.2 Strict Rules and Regulations by FDA
7.2.3 Unethical Practices
7.2.4 Macroeconomic Scenario
7.2.5 Other Challenges
8 United States Healthcare Advertising Market Analysis
8.1 Key Industry Highlights
8.2 United States Healthcare Advertising Historical Market (2017-2021)
8.3 United States Healthcare Advertising Market Forecast (2022-2027)
8.4 United States Healthcare Advertising Market by Product Type
8.4.1 Pharmaceuticals (Small Molecule Drugs) Advertising Market
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.1.4 Breakup by Advertising Channel
8.4.1.5 Advertising Spend by Key Players
8.4.2 Biopharmaceuticals Market
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.2.4 Breakup by Advertising Channel
8.4.2.5 Advertising Spend by Key Players
8.4.3 Vaccines Market
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.3.4 Breakup by Advertising Channel
8.4.3.5 Advertising Spend by Key Players
8.4.4 Over-the-Counter Drugs Market
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2017-2021)
8.4.4.3 Forecast Trend (2022-2027)
8.4.4.4 Breakup by Advertising Channel
8.4.4.5 Advertising Spend by Key Players
8.4.5 Others
9 Current Trends in Healthcare Advertising
9.1 Focus on Content
9.2 Rise of Multichannel Marketing
9.3 Targeting Consumers with Local Advertising
9.4 Reliance on Social Media
9.5 Surging Mobile Marketing
9.6 Consumers Becoming Researchers
9.7 Information Dispensed through Videos
9.8 Increasing Importance of Online Reviews
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Market Challenges
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players’ Sales and Advertising Spend
13.3 Company Profiles
13.3.1 Johnson & Johnson Services, Inc
13.3.1.1 Company Overview
13.3.1.2 Financial Summary
13.3.1.3 Advertising Spend by Channel
13.3.1.4 Global Sales and Advertising Spend
13.3.1.5 Certifications
13.3.2 Pfizer Inc
13.3.2.1 Company Overview
13.3.2.2 Financial Summary
13.3.2.3 Advertising Spend by Channel
13.3.2.4 Global Sales and Advertising Spend
13.3.2.5 Certifications
13.3.3 Merck & Co., Inc
13.3.3.1 Company Overview
13.3.3.2 Financial Summary
13.3.3.3 Advertising Spend by Channel
13.3.3.4 Global Sales and Advertising Spend
13.3.3.5 Certifications
13.3.4 GlaxoSmithKline plc.
13.3.4.1 Company Overview
13.3.4.2 Financial Summary
13.3.4.3 Advertising Spend by Channel
13.3.4.4 Global Sales and Advertising Spend
13.3.4.5 Certifications
13.3.5 Eli Lilly and Company
13.3.5.1 Company Overview
13.3.5.2 Financial Summary
13.3.5.3 Advertising Spend by Channel
13.3.5.4 Global Sales and Advertising Spend
13.3.5.5 Certifications
13.3.6 Novartis AG
13.3.6.1 Company Overview
13.3.6.2 Financial Summary
13.3.6.3 Advertising Spend by Channel
13.3.6.4 Global Sales and Advertising Spend
13.3.6.5 Certifications
13.3.7 Sanofi-Aventis U.S. LLC
13.3.7.1 Company Overview
13.3.7.2 Financial Summary
13.3.7.3 Advertising Spend by Channel
13.3.7.4 Global Sales and Advertising Spend
13.3.7.5 Certifications
13.3.8 AstraZeneca
13.3.8.1 Company Overview
13.3.8.2 Financial Summary
13.3.8.3 Advertising Spend by Channel
13.3.8.4 Global Sales and Advertising Spend
13.3.8.5 Certifications
13.3.9 F. Hoffmann-La Roche Ltd
13.3.9.1 Company Overview
13.3.9.2 Financial Summary
13.3.9.3 Advertising Spend by Channel
13.3.9.4 Global Sales and Advertising Spend
13.3.9.5 Certifications
13.3.10 Bayer AG
13.3.10.1 Company Overview
13.3.10.2 Financial Summary
13.3.10.3 Advertising Spend by Channel
13.3.10.4 Global Sales and Advertising Spend
13.3.10.5 Certifications
13.3.11 Bristol-Myers Squibb Company
13.3.11.1 Company Overview
13.3.11.2 Financial Summary
13.3.11.3 Advertising Spend by Channel
13.3.11.4 Global Sales and Advertising Spend
13.3.11.5 Certifications
13.3.12 Others
14 Industry Events and Developments
The market was valued at USD 21.80 billion in 2021.
The market may possibly develop at a CAGR of 4.8% during the forecast period of 2022-2027.
The growing digitalization and other technological advancements are essential drivers of the Healthcare Advertising market growth.
Johnson & Johnson, Merck & Co., Inc, Pfizer Inc, Eli Lilly and Company, GlaxoSmithKline plc., Novartis AG, Sanofi-Aventis U.S. LLC, F. Hoffmann-La Roche Ltd, AstraZeneca, Bayer AG, Bristol- Myers Squibb Company, and Others are few of the major players in the industry.
Healthcare Advertising market in California, New York, Texas, Florida, and Pennsylvania region of the Healthcare Advertising industry holds a significant share in the market.
The United States Healthcare Advertising market attained a value of USD 21.80 billion in 2021, driven by the rising prescription drug advertisements. In addition, the services are used to spread knowledge about various ailments, health issues, the availability of modern drugs, and procedures in the region, propelling the industry forward.
The market is likely to see additional progress in the anticipated period of 2022-2027 growing at a CAGR of 4.8%, supported by the expansion in the usage of advanced technology in the sector. The market is likely to reach USD 28.88 billion by 2027.
Some of the top players in the United States Healthcare Advertising industry are Johnson & Johnson, Pfizer Inc, Merck & Co., Inc, GlaxoSmithKline plc., Novartis AG, Eli Lilly and Company, Sanofi-Aventis U.S. LLC, AstraZeneca, F. Hoffmann-La Roche Ltd, Bayer AG, Bristol- Myers Squibb Company, and others.
Procurement Resources' team of experts uses a mixture of cutting-edge analytical tools and expertise to explore the macro and micro aspects of the market.
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