Categories: Healthcare

Health Care Social Media Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Health Care Social Media Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Health Care Social Media Global Market Report 2024, The health care social media market size has grown strongly in recent years. It will grow from $12.4 billion in 2023 to $13.45 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to rising patient empowerment, regulatory environment, health awareness campaigns, collaboration and knowledge sharing, patient-centric care.

The health care social media market size is expected to see strong growth in the next few years. It will grow to $19.27 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to telehealth integration, global health crisis impact, virtual communities and support groups, evolving regulatory landscape, mental health emphasis. Major trends in the forecast period include AI and data analytics integration, technological advancements, increasing digitalization in healthcare, gamification for health promotion, AI and chatbots for healthcare support.

The increase in internet and social media usage is expected to propel the health care social media market. The use of the internet is expanding to create new business practices and customer experiences to meet shifting company and market needs. The demand for social media is increasing due to growing internet penetration, rising subscriptions to social media, improved communication needs, and others. During the COVID-19 pandemic, smartphones, social media, and internet use dramatically increased due to long quarantine periods and work-from-home scenarios. This increase in social media and the internet has contributed to the rise in health care social media use due to its increased user experience that provides tools for medical practitioners to share more information, discuss health care policies, and raise health awareness. For instance, according to a report by the International Telecommunication Union (ITU), a United Nations specialized agency for matters related to information and communication technologies, during the COVID-19 pandemic, the number of internet users increased from 4.1 billion in 2019 to 4.9 billion in 2021. Therefore, rising internet and social media usage will drive the health care social media market.

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The health care social media market covered in this report is segmented –

1) By Component: Hardware, Software, Services

2) By Product: YouTube, Twitter, Instagram, Facebook, Tumblr, Snapchat

3) By End Users: Hospitals, Medical Professionals, Research Institutes, Biotechnology Companies, Patients, Others End Users

Major companies operating in the healthcare social media market are focusing on product innovation, such as a social media app designed to combat the spread of health misinformation. A social media app is a digital platform that enables users to create, share, and interact with content, fostering online communication and connection among individuals or groups. For instance, in January 2023, Tell Health Inc., a US-based company that provides a social media platform for health, launched the Tell social media app. This launch stands out with its innovative features, including stringent verification of health experts’ credentials and a medical advisory board of Ivy League physicians. These elements ensure that only qualified professionals share information, addressing the challenges of the healthcare social media market by providing a reliable source for physician-verified health information and effectively combating the spread of health misinformation.

The health care social media market report table of contents includes: