Big Data Pharmaceutical Advertising Market: Competitive Landscape, Future Plans and Global Trends by Forecast 2030
Big Data Pharmaceutical Advertising Market Highlights:
Market
Research Report (MRFR)’s report has revealed that the Big Data Pharmaceutical
Advertising Market is projected to reach USD 1,204.07 Million by 2030 at 23.40%
CAGR during the forecast period 2022-2030. The growth is attributable to the
strong value maintained by the pharmaceutical industry.
The
intensified competitive landscape and the adoption of industrial big data in the pharmaceutical industry for gaining an edge
over competitors have accelerated revenue creation for the big data pharmaceutical advertising
market players. The growing budgets for
investments in advertising by the pharmaceutical companies are set to have a
positive influence on the market proliferation. Furthermore, the increasing
trend of digitalization has opened growth avenues for the market players.
Big
data enhance the pathway to reach the targeted customers and optimizes costs
associated with advertising. This has catalysed its adoption in the
pharmaceutical industry and is likely to augur well for the big data pharmaceutical advertising market expansion over the projection period. The market
for big data pharmaceutical advertising resonates strong growth opportunities
presently and is estimated to exhibit a steep rise in the market proliferation
across the review period.
Market
Segmentation:
By
channel, the global big data pharmaceutical advertising market has been
segmented into product website & e-commerce, social media, search engine,
and mobile ads.
By
application, the big data pharmaceutical advertising market is segmented into
product & service targeting, customer targeting, and branding.
Regional
Analysis:
By
region, the global big data pharmaceutical advertising market has been
segmented into North America, Europe, Asia Pacific, and the Middle East &
Africa. North America held the largest share of the market in 2015 which
accounted for 42.3% share. It is likely to retain its prominence over the next
couple of years and is estimated to reach a valuation of USD 1833.5 Mn by 2023.
The growth is attributable to the developed healthcare sector, the presence of
key players, intensified competition in the market, etc.
Europe
is the second largest market for big data pharmaceutical advertising market
currently. It is estimated to show growth throughout the forecasting in
pharmaceutical industry.
Meanwhile, Asia Pacific is projected to register a CAGR of 13% during the
assessment period 2017 to 2023. The consolidation of fast-developing economies
such as China and India are expected to boost the adoption of big data advertising in the pharmaceutical market report. However, the Middle East & Africa Big Data
Pharmaceutical Advertising market is growing is expected to exhibit sluggish
growth due to poor socio-economic conditions in the African countries.
Big Data Pharmaceutical Advertising Market Players
The global big data pharmaceutical advertising
market players are International Business Machines Corporation (U.S.), Oracle
(U.S.), Statistical Analysis System (U.S.), Tata Consultancy Services Limited
(India), and TAKE Solutions Ltd (U.S.) among others.
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