Marketing budgets of U.S. healthcare companies 2019-2023

A survey among healthcare marketers released in the second quarter of 2024 revealed that the mean marketing budget of a biotech company in the United States amounted to 10.9 million U.S. dollars in 2023. In a pharma company and a medical devices firm, the mean stood at 8.8 million and eight million dollars, respectively.

Marketing budget of the healthcare industry

According to the same study, the mean marketing budget of a healthcare company amounted to 9.1 million dollars in 2023, up from 7.6 million dollars a year earlier. The figure remained significantly below the 12.5-million-dollar mean recorded in 2019 before the pandemic. Furthermore, 47.2 percent of healthcare-related marketers surveyed between late 2023 and early 2024 reported plans to increase marketing budget to patients in the latter year.

U.S. pharma's marketing & advertising

TV advertising in the United States is known, among other characteristics, for its many prescription drug commercials. This translates into multiple companies collectively spending billions of dollars annually in that medium. In March 2023, Rinvoq – a medication against conditions such as arthritis run by Illinois-based AbbVie Inc. – was the U.S. pharma brand spending the most on TV ads at nearly 32.4 million dollars. Skyrizi – another drug developed by AbbVie – ranked second with 30.5 million dollars in expenditure.