United States Healthcare Advertising Market to Grow at a CAGR of 4% During 2024-2032, Aided by the Increasing Healthcare Spending

The United States healthcare advertising market is expected to be aided by the rising spending in the healthcare and pharmaceutical sectors. In 2022, United States healthcare spending reached USD 4.5 trillion, growing 4.1% from the previous year. This amounted to USD 13,493 per person. Healthcare spending accounted for 17.3% of the nation's Gross Domestic Product in the same year.

Significant investment in advertising across various sectors is shaping the market dynamics of the US healthcare advertising market. In June 2023, MullenLowe Group secured a contract with the Department of Health and Social Care (DHSC) after a competitive pitch managed by the Crown Commercial Service. Their brief includes creating campaigns addressing cardiovascular diseases and supporting the Swap to Stop Smoking scheme. Building on past collaborations, MullenLowe will focus on mental health, early childhood development, and driving innovation in DHSC's communications, aiming to engage diverse audiences effectively.

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Market Breakup by Product Type:

• The market is segmented based on product type into pharmaceuticals (small molecule drugs), advertising market, biopharmaceuticals market, vaccines market, and over-the-counter drugs market, among others.

Key Findings of the Report:

• The growth of the healthcare and pharmaceutical sectors supports substantial advertising investments for innovative medical products and solutions.

• Significant investment in advertising is reshaping the dynamics of the US healthcare advertising market, with government initiatives to bring about awareness about several diseases including cardiovascular disease, TB, HIV, STDs, and diabetes, among others.

• The emphasis on addressing healthcare challenges, such as shortages of medical professionals and public health concerns like smoking cessation, drives the need for targeted advertising campaigns.

Key Offerings of the Report:

• The EMR report gives an overview of the United States healthcare advertising market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product type and major regions of healthcare advertising.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States healthcare advertising market are Johnson & Johnson, Inc, Pfizer Inc, Merck & Co., Inc, GlaxoSmithKline plc., Eli Lilly and Company, Novartis AG, Sanofi-Aventis U.S. LLC, AstraZeneca, F. Hoffmann-La Roche Ltd, Bayer AG, and Bristol- Myers Squibb Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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