The latest market research 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, the market is anticipated to reach a value of US$ 28.1 Billion by 2027, at a projected CAGR of 4.81% over the forecast period of 2022-2027.
Healthcare advertising represents the process of developing communication and marketing strategies for reaching new patients by creating an open line of communication between them and healthcare organizations. It usually relies on highly segmented and targeted online as well as offline strategies to boost engagement and accelerate enterprise growth. In addition to this, healthcare advertising is used to spread awareness towards several diseases and the availability of advanced drugs and procedures 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 and Drivers:
The widespread adoption of various synchronized communication channels by pharmaceutical companies is primarily driving the US healthcare advertising market. Additionally, the increasing number of digital promotions, such as product websites, online display advertising, social media campaigns, etc., is further catalyzing the market growth. Besides this, the rising investments in advertising by healthcare organizations via television and print ads, the inflating popularity of generic and me-too drugs, the expanding geriatric population, and numerous technological advancements are acting as significant growth-inducing factors. Moreover, Google, one of the extensively used search engine, has allowed advertisers to post advertisements for human immunodeficiency virus (HIV) home tests, addiction services, prescription drug clinical trial recruitment, etc., which is propelling the market growth in this country. Apart from this, the introduction of telemedicine, electronic health records, and remote medical monitoring is anticipated to fuel the US healthcare advertising market over the forecasted period.
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