BIA/Kelsey estimates that the health care advertising category will grow at a 1.8% compound annual rate to $11.56 billion in 2021.
BIA/Kelsey estimates health care organizations will spend more than $10.85 billion on local advertising in the U.S. in 2017. This represents 7% of the $147.94 billion total estimated local advertising market. In addition, the research projects that the sector will grow at a 1.8% compound annual rate to $11.56 billion in 2021.
The report, Insights in Local Advertising — Health Care Vertical, details where this important vertical is spending ad dollars across traditional and digital media. It also identifies which media will experience growth in advertising revenue in the next five years.
The Health Care Vertical, as defined by the U.S. government, consists of eight subcategories:
- Residential Care Facilities
- Veterinary Offices
- Pharmacies/Drug Stores
The report focuses on the first six categories, excluding veterinary offices and pharmacies/drug stores. BIA/Kelsey will release further details on the study at the TVB Forward Conference in New York on Thursday.