What Has Been the Growth of the Healthcare Advertising Market So Far?
The healthcare advertising market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the healthcare advertising market size in the past few years. The market is projected to swell from $45.1 billion in 2024 to $48.02 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.5%.
This growth over the historical period can be credited to the growing awareness about healthcare, the advent of telehealth services, advancements in pharmaceuticals, escalating healthcare costs, worldwide health crises, and competition among healthcare providers.
How Will the Healthcare Advertising Market?
The healthcare advertising market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for healthcare advertising is anticipated to experience robust growth over the coming years, reaching $61.9 billion by 2029 with a compound annual growth rate (CAGR) of 6.6%.
Factors contributing to growth during this forecast period include the rapid pace of digitalization, progress in genomic medicine, the rise of remote patient monitoring, increased focus on mental health, and concerns about health data privacy. Forecasted trends include digital transformation, the promotion of telehealth, advertising of health and wellness apps, the use of blockchain for data security, and the integration of chatbots and AI-driven interactions.
Which Factors Are Boosting Growth In The Healthcare Advertising Market?
The growth of the healthcare advertising market is predicted to notably advance due to the expanding use of telehealth. Telehealth, a term that defines the application of digital technology and communication instruments for distant healthcare services, consultations, supervision, and learning, is becoming a widely used tool in healthcare advertising. It helps healthcare providers to reach out to patients irrespective of their location or physical ability, and carry out targeted promotional initiatives. Moreover, it aids in increasing patient engagement, improving their outcomes, and embellishing the overall healthcare journey. For instance, data from a report by the Australia-based government agency, the Australian Digital Health Agency, in August 2022 revealed that 118.2 million telehealth services were offered to 18 million patients between 2020 and 2022. Over 95,000 practitioners used telehealth services during this period. Moreover, a report from the US-based government entity, the National Library of Medicine published in April 2023, showed that the average daily use of telemedicine in the US surged from 19.6% in 2021 to 25.7% in 2022. Consequently, the burgeoning use of telehealth is contributing to the expansion of the healthcare advertising market.
What Key Areas Define The Segmentation Of The Global Healthcare Advertising Market?
The healthcare advertising market covered in this report is segmented –
1) By Type: Traditional, Digital, Public Relations, Unique Branding And Awareness, Internal marketing, Physician Referrals, Employer marketing, Other Types
2) By Approach: Direct-To-Consumer Advertising, Healthcare Professional (Detailing)
3) By Technology: Personal Data Tracking, Telemedicine, Artificial Intelligence, Other Technologies
4) By Application: Biotechnology Companies, Medical Insurance, Weight Loss And Fitness Products, Other Applications
Subsegments:
1) By Traditional: Print, Television, Radio, Outdoor
2) By Digital: Social Media Advertising, Search Engine marketing (SEM), Display Advertising, Email marketing, Mobile Advertising
3) By Public Relations: Media Relations, Community Relations, Crisis Management, Press Releases
4) By Unique Branding And Awareness: Brand Identity Development, Cause marketing, Sponsorships And Events
5) By Internal marketing: Employee Communications, Internal Newsletters, Training Programs
6) By Physician Referrals: Referral Programs, Physician Outreach, Networking Events
7) By Employer marketing: Employer Branding, Employee Benefits Communication, Health And Wellness Programs
8) By Other Types: Influencer marketing, Content marketing, Patient Testimonials And Case Studies
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What New Trends Are Influencing The Healthcare Advertising Market?
Leading companies in the healthcare advertising market are emphasizing on innovative developments like DeepIntent Copilot to improve their advertising approaches. DeepIntent Copilot, an AI-based tool integrated into the DeepIntent healthcare advertising platform, provides applicable insights and recommendations by analysing real-time media data. For example, in September 2023, DeepIntent, a healthcare advertising platform from the US, introduced the DeepIntent Copilot, an AI-equipped tool developed for smart healthcare advertising. This tool aims to elevate campaign strategies, optimize media investments, and boost efficiency and performance in healthcare ads. By utilizing the unique connected datasets throughout DeepIntent's platform, the tool offers useful insights and suggestions focused on accomplishing specific objectives in healthcare. Furthermore, it transforms healthcare advertising through delivery of actionable insights, accelerating the time to a positive ROI, and augmenting adaptability to instantaneous market shifts.
Who Are the Key Players In The Healthcare Advertising Market?
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 InteractiveInc.
• 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 MarketingInc.
• Dobies Health Marketing
• Healthcare Success
• LLC
• Thrive Internet Marketing Agency
What Is The Most Dominant Region In The Healthcare Advertising Market?
North America was the largest region in the healthcare advertising market in 2024. The regions covered in the healthcare advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
