Medical marketing budgets increased by 15%

Healthcare and medical marketing budgets were up by 15 percent in 2021, but they still fell below pre-pandemic levels, MM+M reported March 8.

The annual Healthcare Marketers Survey conducted by MM+M accumulated marketing budgets from 93 individuals employed by pharmacy companies, biotech companies and medical device companies and found the following:

  • 2021 marketing budgets increased by 15 percent to $8.3 million, compared to $7.2 million in 2020.

  • Pre-pandemic marketing budgets were at $12.5 million in 2019.

  • Forty-percent of respondents said they are putting more money into non personal promotion and channeling it into tactics to help sales representatives and non-rep-deliver digital tactics.

  • Eighty-two percent of marketers say digital channels are their preferred marketing outlet.

  • At about 52 percent, most of companies' marketing budgets are directed at reaching healthcare professionals.

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