Globally, pharmaceuticals & healthcare is among the biggest industries. The health industry is worth $1.2 trillion. In the United States, the healthcare and pharmaceutical industry continues to grow and shows no signs of slowing down, with a value of $808 billion dollars in 2021. Healthcare spending accounted for 19.7% of the US GDP in 2020 alone.
Given the size of the industry and the increased conversation around it because of the pandemic, different trends and consumer voices are likely to emerge. Pharma and Healthcare companies need to take advantage of social listening platforms to better position themselves by identifying key consumer concerns in real-time and innovating to deliver personalized care to their consumers.
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