Five Trends Shaping Healthcare and Pharma Marketing in 2024
The aftermath of the Covid-19 pandemic and the current cost-of-living crisis have significantly impacted the healthcare and pharmaceuticals industry, highlighting a need to improve the way care is delivered, and adapt to consumers’ changing needs.
The latest WARC Industry Snapshot report combines a rich analysis of macro factors in the healthcare and pharmaceuticals industry with sector-specific research. This reveals a comprehensive picture of the trends that will shape marketing strategies in the coming year.
Based on WARC’s GEISTE methodology, the snapshot reviews the macro drivers expected to impact marketing across six pillars: Government, Economy, Industry, Society, Technology, and Environment.
Why this is useful
Healthcare is undergoing radical change: the vast majority of pharma executives are moving fast on generative AI. At the same time, vastly expanded new datasets create huge opportunities for the technology as a strong minority (41%) of patients are now willing to share their genetic results in anticipation of improved preventive care.
Despite this, there is also great unmet need in healthcare. People are not only feeling failed by their healthcare systems (often because of cost pressures), but they are also seeking advice elsewhere, often from unreliable social media sources.
Five healthcare and pharmaceutical trends
- Unlocking the potential of gen AI: Generative artificial intelligence (gen AI) is emerging as a powerful tool to ease the effects of worldwide labour shortages, and help healthcare and pharmaceutical companies operate more efficiently.
- Expanding the scope of precision medicine: Advancements in precision medicine are enabling consumers to receive customised care before and after the development of diseases.
- Tapping into influencer marketing: As consumers increasingly turn to social media for medical advice, healthcare and pharmaceutical brands could benefit from collaborations with influencers.
- Addressing barriers to healthcare access: Consumers are interested in improving their health now, more than ever, but barriers to better health remain. Organisations are responding by experimenting with AI to offer cheaper and more convenient care.
- Merging physical and mental healthcare: As the cost-of-living crisis continues to affect consumers’ physical and mental health, demand for integrated care is increasing.
To help marketers respond to these trends, the report also contains a series of hypothetical scenarios which businesses can use to plan and prepare themselves for different potential futures.