SCORR Marketing, the leading global, full-service marketing and communications firm serving the health science industry, has released its tenth annual Health & Life Sciences Marketing Trends Report — a survey revealing top marketing trends, including how and where companies spend their marketing budgets, how companies, agencies, or internal marketing teams are performing across a variety of functions, and which tactics work best.
“The marketing landscape, particularly in health sciences, is always evolving,” said SCORR Marketing CEO Krystle Buntemeyer. “The insights in this report can be a valuable resource to help health science professionals better understand and assess strategic, general, technological, and tactical marketing trends as well as benchmark current spending, activities, and performance in comparison to other companies in the industry.”
Mostly CEOs, presidents, vice presidents, or directors from pharmaceutical sponsor companies, contract research organizations (CROs), contract development manufacturing organizations (CDMOs)/contract manufacturing organizations (CMOs), and software/technology companies in North America and Europe were surveyed for this report and more than three-fourths of survey respondents had over six years of experience in the industry. The survey revealed many marketing activity trends and changes over the past year, including:
- In 2022, drug development services (DDS) companies invested the most in trade shows and website, apps, and interactive development; CDMOs increased their allocation for trade shows and social media; and sponsors allocated the most in content creation
- Prior to 2022, trade show investment had been both the largest part of most budgets and trending downward; the downward trend reversed in 2022 as more than one-half (52%) of respondents reported increases in trade show investment
- More than one-third (37%) of respondent companies increased their marketing investment in social media from 2021 to 2022; DDS companies’ ratings for YouTube and Twitter both trended upward from 2020 to 2022
- Marketing budgets are still lagging behind pre-pandemic levels — during 2022, 39% of companies surveyed said they invested 2 to 5% of annual revenue into marketing spend
- About two-thirds (66%) of respondents outsourced some or all their marketing work to an external marketing agency; market research and website development are the areas most likely to be outsourced to an agency
What other marketing activities do health science companies often outsource and what marketing activities are most important and effective? Find out these answers and more in this full survey report.
SCORR Marketing is the leading full-service marketing agency for the health science industry. Executing globally, SCORR partners with companies involved in the research, development, and commercialization of biopharmaceutical and device products, as well as those delivering health care products and services. SCORR provides integrated programs to help clients achieve their goals and improve health and well-being worldwide. Learn more at www.SCORRMarketing.com.