North America Healthcare Advertising Market, By Type (Online, Traditional, Physician Referrals, Internal Marketing, Public Relations, Employer Marketing, Unique Branding and Awareness, and Others), Form of Engagement (Healthcare Facility, In Home/In Person, Digital, and Others), Technology (Telemedicine, Artificial Intelligence, Personal Data Tracking and Others), Approach (Detailing and Direct to Consumer Advertising), Format (Display, Search, and Video), Application (Pharmaceuticals Advertising, Biopharmaceuticals, Vaccines, Over-The-Counter Drugs, Prescription Medicines, Medical Devices and Equipment, Biotech Companies, Medical Insurance, Fitness and Diet Products and Service, Hygiene Products, Corrective Lenses and Glasses, and Others) – Industry Trends and Forecast to 2031.
North America Healthcare Advertising Market Analysis and Size
The healthcare advertising market thrives on innovation, utilizing advanced strategies to promote benefits. Targeted messaging educates consumers on medical advancements, fostering awareness and engagement. This synergy drives positive outcomes, empowering individuals to make informed healthcare decisions. In this dynamic landscape, a collaboration between stakeholders amplifies the reach and impact of these campaigns, enhancing public health.
The North America healthcare advertising market size was valued at USD 18.25 billion in 2023, is projected to reach USD 27.58 billion by 2031, with a CAGR of 5.30% during the forecast period 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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 Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Online, Traditional, Physician Referrals, Internal Marketing, Public Relations, Employer Marketing, Unique Branding and Awareness, and Others), Form of Engagement (Healthcare Facility, In Home/In Person, Digital, and Others), Technology (Telemedicine, Artificial Intelligence, Personal Data Tracking, and Others), Approach (Detailing and Direct to Consumer Advertising), Format (Display, Search, and Video), Application (Pharmaceuticals Advertising, Biopharmaceuticals, Vaccines, Over-The-Counter Drugs, Prescription Medicines, Medical Devices and Equipment, Biotech Companies, Medical Insurance, Fitness and Diet Products and Service, Hygiene Products, Corrective Lenses and Glasses, and Others)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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FCB (U.S.), Havas Health & You (U.S.), Publicis Health (U.S.), CDM New York (U.S.), Xandr Inc. (U.S), Verizon (U.S), Kayzen (China), NextRoll, Inc. (U.S), Google (U.S), Adobe (U.S), Magnite, Inc (U.S), MediaMath (U.S), IPONWEB Limited (U.S), VOYAGE GROUP (Japan), Integral Ad Science Inc.(Denmark), The Trade Desk (U.S), Connexity (U.S), Centro, Incorporated (U.S), RhythmOne, LLC (U.S), and Syneos Health (U.S.)
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Market Opportunities
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Market Definition
Healthcare advertising promotes medical services, treatments, and products to the public. It informs about available healthcare options, educates on preventive measures, and raises awareness about health issues. Healthcare ads utilize multiple channels including TV, radio, internet, and print to link patients with providers, boost health literacy, and foster informed decision-making, ultimately promoting improved well-being among individuals.
Healthcare Advertising Market Dynamics
Drivers
- Growing Aging Population
The rising number of elderly individuals globally fuels demand for healthcare services and products. Healthcare advertising is a vital conduit, informing this demographic about treatments, medications, and healthcare options. For instance, pharmaceutical companies utilize targeted campaigns to educate seniors about medications for age-related conditions such as arthritis and osteoporosis, fostering informed healthcare decisions and enhancing overall well-being among older individuals.
- Healthcare Access and Equity
Advertising campaigns advocating for healthcare access and equity are pivotal in diminishing disparities and enhancing health outcomes for marginalized communities. For instance, campaigns promoting free or low-cost health screenings in underserved areas and messaging on the importance of preventive care can empower individuals to seek timely medical attention, ultimately fostering healthier communities and reducing healthcare inequalities.
Opportunities
- Growing Demand for Personalized Medicine
The rise of personalized medicine fuels the demand for targeted advertising strategies. Through utilizing patients' genetic profiles, medical histories, and preferences, advertisers can customize campaigns to promote specific healthcare solutions, effectively reaching their intended audience. For instance, a pharmaceutical company might use targeted ads to inform patients with a genetic predisposition about a personalized treatment designed to mitigate their risk of developing a certain condition.
- Advancements in Medical Technology
The rapid evolution of medical technology presents fertile ground for healthcare advertising. Companies innovating in medical devices, treatments, and therapies seize this opportunity to educate healthcare professionals and consumers about their breakthroughs. For instance, a company developing a non-invasive glucose monitoring device may utilize advertising to highlight its benefits, such as improved patient comfort and diabetes management.
Restraints/Challenges
- High Cost Associated with External Marketing in the Healthcare Sector
The healthcare sector grapples with the hurdle of exorbitant external marketing costs, hindering market expansion. Outbound strategies command USD10 to USD34 CPM, vastly surpassing inbound's USD1.54 to USD10.00 CPM. This stark contrast influences budget allocation and strategic planning, necessitating a careful balance between cost-effective inbound methods and traditional outbound approaches to optimize marketing impact.
- Increasing Concern Regarding Data Security
Rising data security concerns, especially regarding protected health information (PHI) and personally identifiable information (PII), present a major obstacle to growth in healthcare advertising. Safeguarding sensitive data from breaches becomes paramount, demanding rigorous measures to ensure privacy and trust. Navigating this challenge will be crucial for sustaining the healthcare advertising market in the forecast period.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2020, PUBLICIS GROUPE Heartbeat was honored with the MANNYAwards for Med Ad News, reinforcing its ongoing dedication to Diversity and Inclusion. This accolade is poised to elevate the company's brand value, subsequently driving increased revenue generation
- In 2020, Havas Health & You partnered with the Programmatic Health Council Media group, leveraging expertise in programmatic advertising within the healthcare sector. This collaboration seeks to fortify the company's market position, amplifying consumer engagement through data-driven strategies to enhance brand reputation and revenue streams
- In 2020, Care Health Insurance unveiled plans for a new TV campaign post-rebranding, emphasizing exceptional customer service, value-driven offerings, and product innovation. This initiative underscores the company's commitment to delivering unparalleled service, fostering customer loyalty, and stimulating revenue growth
Healthcare Advertising Market Scope
The market is segmented on the basis of type, form of engagement, technology, approach, format, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Online
- Traditional
- Physician Referrals
- Internal Marketing
- Public Relations
- Employer Marketing
- Unique Branding and Awareness
- Others
Form of Engagement
- Healthcare Facility
- In Home/In Person
- Digital
- Others
Technology
- Telemedicine
- Artificial Intelligence
- Personal Data Tracking
- Others
Approach
- Detailing
- Direct to Consumer Advertising
Format
- Display
- Search
- Video
Application
- Pharmaceuticals Advertising
- Biopharmaceuticals
- Vaccines
- Over-The-Counter Drugs
- Prescription Medicines
- Medical Devices and Equipment
- Biotech Companies
- Medical Insurance
- Fitness and Diet Products and Service
- Hygiene Products
- Corrective Lenses and Glasses
- Others
Healthcare Advertising Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by country, type, form of engagement, technology, approach, format, and application as referenced above.
The countries covered in the market report are U.S., Canada, and Mexico.
The U.S. is expected to dominate the healthcare advertising market due to the surge in prescription drug manufacturing and the significant presence of healthcare companies. Rising healthcare expenditure and organizational efforts to reach more customers will fuel market growth. The country's robust infrastructure and strategic marketing initiatives position it as a key player in driving advancements in healthcare advertising.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Healthcare Advertising Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- FCB (U.S.)
- Havas Health and You (U.S.)
- Publicis Health (U.S.)
- CDM New York (U.S.)
- Xandr Inc. (U.S)
- Verizon (U.S)
- Kayzen (China)
- NextRoll, Inc. (U.S)
- Google (U.S)
- Adobe (U.S)
- Magnite, Inc (U.S)
- MediaMath (U.S)
- IPONWEB Limited (U.S)
- VOYAGE GROUP (Japan)
- Integral Ad Science Inc.(Denmark)
- The Trade Desk (U.S)
- Connexity (U.S)
- Centro, Incorporated (U.S)
- RhythmOne, LLC (U.S)
- Syneos Health (U.S.)
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