NEW YORK Pharmaceutical companies will spend more than $1 billion on direct marketing in 2008 and see revenue of $10.6 billion, according to a new report from the Direct Marketing Association.
And those figures will not slow down anytime soon. Over the next five years, direct marketing-driven sales are projected to compound 9.4 percent annually, topping $15 billion in 2012.
“The American pharmaceutical industry employs direct marketing extensively and successfully,” DMA research manager Michelle Tiletnick said in a statement.
Marketing dollars also will continue to be spent in other key areas, according to Direct Marketing Facts and Figures in the Pharmaceutical Industry. In 2012, for example, pharmaceutical companies’ Internet ad expenditures will be nearly $173 million, up from an expected $93.6 million this year. Meanwhile, direct marketing Web-driven sales will reach nearly $3.8 billion by 2012, almost double the $1.9 billion projected in 2008.
Not to be overlooked, print marketing will generate more than $2 billion in sales this year.
“Initially, DMA was going to include the pharmaceutical industry as part of our healthcare report, which was published in February,” said Tiletnick. “However, upon review of the information, we realized that pharmaceutical and healthcare marketers were different enough that each merited its own report.”