The integration of personalized marketing strategies allows healthcare providers and pharmaceutical companies to tailor their messages and campaigns to specific target audiences. This level of customization enables a more direct and meaningful connection with patients, healthcare professionals, and other stakeholders, fostering a sense of relevance and engagement.
In healthcare, personalized marketing plays an important role as marketers capture individuals’ data and convey the required information to them. The increasing awareness about health is allowing individuals to consume content related to their health issues, which is boosting the adoption of personalized marketing by organizations. Retargeting, for illustration, shows advertisements to people who demonstrate an interest in the website or substance. With advanced marketing tools, understanding the customers becomes crucial. Personalized messages grab more attention and lead to greater interest and response.
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Data Bridge Market Research analyzes that the Global Healthcare Advertising Market is expected to reach USD 64,189,320.31 thousand by 2031 from USD 42,395,348.25 thousand in 2023, growing at a CAGR of 5.5% during the forecast period of 2024 to 2031.
Key Findings of the Study
Increasing Level of Investments in Advertising to Enhance Brand Productivity
One key driver for the increasing levels of investment in advertising is the growing competition among healthcare organizations and pharmaceutical companies to establish a strong brand presence in the market. Companies are realizing the importance of effective advertising in reaching a wider audience and building brand recognition as the healthcare industry becomes more competitive.
Investing in advertising allows healthcare organizations to communicate their unique value propositions, highlight innovative products and services, and establish trust among consumers. With advancements in medical technology and the introduction of new healthcare solutions, companies are leveraging advertising to educate both healthcare professionals and consumers about the benefits of their products. This proactive approach not only drives sales but also contributes to the overall market growth and expansion.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (Traditional, Digital, Public Relations, Unique Branding and Awareness, Internal Marketing, Physician Referrals, Employer Marketing, and Others), Technology (Personal Data Tracking, Telemedicine, Artificial Intelligence, and Others), Approach (Direct-To-Consumer (DTC) and Healthcare Professional (Detailing)), Mode (Online and Offline), Application (Fitness and Diet Product and Service, Over The Counter, Health Hygiene, Medical Insurance, Hospitals and Clinics, Medical Devices and Equipment, Corrective Lenses and Glasses, Pharmaceutical, Prescription Medicines, Wearables, Biotech Companies, Biopharmaceuticals, Vaccine, Medical Spas, Senior Home Care Services, and Others)
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Country Covered
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U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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PUBLICIS GROUP (U.S.), Saatchi & Saatchi Wellness (U.S.), Syneos Health (U.S.), CDM (U.S.), Havas Health & You (U.S.), Pfizer Inc. (U.S.), Merck & Co., Inc. (U.S.), McCann Health (U.S.), High Level Marketing (U.S.), Healthcare Success, LLC (U.S.), Novartis AG (Switzerland), Distill Health (U.S.), Johnson & Johnson Services, Inc (U.S.), Dobies Health Marketing (U.S.), Bayer AG (Germany), Wunderman Thompson Health (U.K.), Brandmed Sp. z o.o. (Poland), Thrive Internet Marketing Agency (U.S.), Levo Healthcare Consulting, LLC (U.S.), RevLocal (U.S.), Communications Strategy Group (U.S.), Sagefrog Marketing Group, LLC (U.S.), FCB Health (U.S.), Trajectory (U.S.), AbelsonTaylor, Inc. (U.S.), VMLY&R (U.S.), and Maricich Health (U.S.) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
The global healthcare advertising market is segmented into five notable segments based on type, technology, approach, mode, and application.
- On the basis of type, the market is segmented into traditional, digital, public relations, unique branding and awareness, internal marketing, physician referrals, employer marketing, and others
In 2024, the traditional segment is expected to dominate the market
In 2024, the traditional segment is expected to dominate the market with a 29.17% market share as it helps reach a larger audience, has a strong prevalence of marketing through TV, increased awareness among individuals, and is easily understood by most people.
- On the basis of technology, the market is segmented into personal data tracking, telemedicine, artificial intelligence, and others
In 2024, the telemedicine segment is expected to dominate the market
In 2024, the telemedicine segment is expected to dominate the market with a 50.64% market share due to the strong presence of telemedicine in the healthcare industry, as it allows patients to access healthcare services anytime and anywhere, exchange information for diagnosis, and effectively address patients' questions.
- On the basis of approach, the market is segmented into direct-to-consumer advertising and healthcare professional (detailing). In 2024, the healthcare professional (detailing) segment is expected to dominate the market with 65.22% market share
- On the basis of mode, the market is segmented into online and offline. In 2024, the offline segment is expected to dominate the market with 58.83% market share
- On the basis of application, the market is segmented into fitness and diet product and service, over the counter, health hygiene, medical insurance, hospitals and clinics, medical devices and equipment, corrective lenses and glasses, pharmaceutical, prescription medicines, wearables, biotech companies, biopharmaceuticals, vaccine, medical spas, senior home care services, and others. In 2024, the fitness and diet product and service segment is expected to dominate the market with a 17.96% market share
Major Players
Data Bridge Market Research analyzes PUBLICIS GROUP (U.S.), FCB Worldwide, Inc. (U.S.), Wunderman Thompson (U.K.), VMLY&R (U.S.), and CDM New York (U.S.) as the major market players operating in the global healthcare advertising market.
Market Developments
- In November 2023, AbelsonTaylor Group was honored with the Healthcare Businesswomen’s Association ACE Aspire Award for its groundbreaking Employee Psychological Safety Initiative. The prestigious ACE Awards focused on Advancement, Commitment, and Engagement, commend companies such as AbelsonTaylor for fostering gender diversity and leadership opportunities. An esteemed panel of healthcare industry leaders recognized AbelsonTaylor's excellence in advancing female talent, considering criteria such as measurable results, business performance, stewardship, execution, and sustainability. This benefited the company to boost its image in the market
- In March 2023, PUBLICIS GROUPE completed its acquisition of Practia, a prominent independent technology firm in Latin America specializing in digital business transformation. Now integrated into Publicis Sapient, the digital transformation arm of Publicis Groupe, the move strategically positions Publicis Sapient in the rapidly growing Latin America market. This acquisition not only expanded their global delivery network, previously in India and Eastern Europe but also established a nearshore delivery platform, enhancing services for North American clients
- In September 2021, VMLY&R launched a new global healthcare agency, VMLY&Rx, to serve Rx specialty pharmaceutical companies creating groundbreaking advanced therapies. The Sudler brand will be formally discontinued at the international level. The company is going to offer a broad range of multidisciplinary for the health ecosystem
- In September 2020, Wunderman Thompson entered into a business partnership with Acquia to intensify their cooperation and is now also striving for optimal solutions for well-known brands as part of a focused partnership. This partnership enhanced the brand image of the company along with revenue generation, which further helped in revenue generation
- In June 2020, FCB Worldwide, Inc. was awarded the most creative agency on 31st Manny Awards. The company was awarded by various campaigns such as the Best Patient Engagement Campaign, the Best Medical Device Campaign, the Best Professional Print Campaign, and the Best Consumer TV/Radio Campaign. The company was awarded the Best Launch Campaign. This award recognition helped the company enhance its brand image and generate revenue
Regional Analysis
Geographically, the countries covered in the global healthcare advertising market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Russia, Spain, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.
As per Data Bridge Market Research analysis:
North America is expected to dominate the global healthcare advertising market
North America is expected to dominate the market due to the widespread production of prescription drugs and the strong presence of advertising healthcare agencies because of increased healthcare spending.
Asia-Pacific is estimated to be the fastest-growing region in the global healthcare advertising market
Asia-Pacific is estimated to be the fastest-growing region in the market due to the increasing focus of healthcare organisations on adopting innovative ways to capture a larger number of patients.
For more detailed information about the global healthcare advertising market report, click here – https://www.databridgemarketresearch.com/reports/global-healthcare-advertising-market
