The trend: Healthcare marketing budgets hit a five-year low in MM+M/Swoop’s annual Healthcare Marketers Trend Survey (HCMS) of 113 director-level or above respondents with visibility into their biopharma or medtech companies’ promotional budgets.
Digging into the data: The average healthcare marketing budget fell to $7.2 million in 2024, a 21% drop year over year from $9.1 million in 2023.
Shifts in spending varied across categories: