Pharma and healthcare digital ad spending slows after pandemic increase, but still headed for $20B — report
Pharma’s big swing to digital advertising is finally losing steam — but still growing at a double-digit pace. While the massive spending increases in 2020 (28%) and 2021 (26%) are now in the pandemic-pushed rearview mirror, eMarketer is still forecasting strong double-digit growth for the industry over the next three years.
Its latest healthcare and pharma digital advertising report predict $15.8 billion in spending this year, a 14% increase year over year, and additional increases of 12.3% and 10.5% for 2023 and 2024, respectively. The forecasted result would land the industry just shy of $20 billion ($19.66B) in annual spending by 2024.
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