Annually, over a million global professionals from the medical and pharmaceutical industry convene at tradeshows and conferences in-person and virtually. The last five years have been extremely eventful, especially for this industry.
As healthcare reforms took center stage and IoT began to transform the industry, Medical and Pharma events brought the entire industry together to network, share critical insights, and witness big advancements in the growing healthcare ecosystem.
The COVID-19 pandemic resulted in the postponement or cancellation of various medical and pharmaceutical events in early 2020. However, virtual platforms enabled event organizers to continue offering educational and networking opportunities to attendees, to continue the engagement & interaction with industry stakeholders.
The time between early 2020 till end of 2021, can be seen as Covid period for the purpose of this report. We compare pre-2020 and post 2021, as pre and post period to see where we are and the road ahead.
2022 saw a mix of virtual, in-person, and hybrid events coming to the forefront. With the increase in physical events mixed with virtual & hybrid formats, events became more accessible and allowed for greater collaboration between experts in the medical and pharma sector.
MEDICAL & PHARMA EVENTS OVERVIEW
The medical and pharma events industry has seen significant growth in recent years, leading to new opportunities for collaboration, networking, and innovation. With a growing focus on improving human-wellbeing, all research points towards continued growth in this sector for the foreseeable future.
Medical and pharmaceutical events provide a platform for industry professionals to congregate, network, share knowledge and forge partnerships. In addition, these events offer a wealth of expertise and experience from around the world and facilitate networking.The COVID-19 pandemic significantly impacted events in this industry, as it highly relied on in-person product launches, displays and relationship building.
With sudden cancellation, postponement, or transition to virtual formats for all events, adaptation took center stage. However, in 2022, we saw events returned to in-person formats in full-force while some leveraged hybrid formats.
This report will provide an overview of the number of events in the industry as a comparison metric to assess the state of events returning to normalcy post-covid and also analyze them across several key regions and other relevant trends. The core focus of the report is to access pre vs. covid status and the way forward.
(Note: The numbers of events reflect events captured on the 10Times platform across the regions. While not perfect, we expect it to be close to reality with less than a 10% standard deviation).
MEDICAL AND PHARMA EVENTS TRENDS
As demonstrated by the information in Figure 1, a significant number of medical and pharmaceutical events have been happening over the last five years, allowing attendees to connect and engage in business with leading industry innovators, companies, and specialists.
It is noteworthy that the number of events that have occurred post-COVID is greater than before the outbreak, as indicated by the data shown in Figure 1. This is likely a result of the cost-effectiveness and wider reach of virtual events (in terms of frequency but smaller size), which event organizers utilized in response to the pandemic.
Despite the abrupt shift to virtual or hybrid delivery formats for events in 2020, the importance of these gatherings did not diminish for medical and pharmaceutical companies that had already incorporated them into their marketing strategies.
The United States typically hosts a significantly larger number of B2B events compared to other regions. The following charts depict trends in medical and pharmaceutical events within various countries, according to 10times data.
MEDICAL AND PHARMA TRADE SHOWS
As depicted in Figure 3, thousands of medical and pharmaceutical trade shows were hosted during the last five years. As compared to 2019, more trade shows were organized in 2022, as shown in Figure 3.
Post-pandemic, the number of trade shows has increased because of the advent of virtual event platforms. These platforms provided an easy, cost-efficient and accessible way for organizers to host events.
The data below illustrates the trend of medical and pharmaceutical trade shows held in five major regions over the past five years (selected on the basis of the number of events and audience size for this report).
From the data, we can see that the number of medical and pharma trade shows held in the USA has consistently been the highest among the five regions over the past five years. This suggests that the USA has a strong demand for such events and a thriving medical and pharma industry.
It is noteworthy to observe the speed at which each region has recovered in terms of the number of events being held.
Figure 4 illustrates the number of medical and pharmaceutical trade shows held in the United States over the past five years. As a result of the widespread adoption of virtual and hybrid formats, the number of events organized in the US post-pandemic exceeded the level in 2019.
Figure 5 illustrates the number of medical and pharma trade shows held in the UK for the past five years. From the data, it is clear that the number of events organized in the UK post-pandemic has surpassed the figures from 2019. This is primarily due to the mix of in-person and virtual, unlike pre-covid, which was a majorly in-person affair.
Figure 6 illustrates the number of medical and pharma trade shows held in India for the past five years. After COVID, surprisingly, India has hosted more medical and pharma trade shows as of 2022, than it did before the pandemic.
It seems to be in- line with the general trend of growing demand for events in India and a sign for coming years as the country catches up with other regions in-terms of industry/economy size and the number of large events.
Figure 7 illustrates the number of medical and pharma trade shows held in Australia for the past five years. While the base is a lot lower compared to other countries like US and UK, Australia seems to be grown when comparing 2019 with 2022.
MEDICAL AND PHARMA CONFERENCES
These figures show medical and pharmaceutical conferences held in five major geographical regions over the past five years. Post-pandemic, the number of medical and pharma conferences hosted has increased and is expected to exceed pre- pandemic levels for all countries. This seems to be due to the feasibility and acceptability of some conferences continuing as virtual only.
Figure 8 shows the number of medical and pharmaceutical conferences held during the past five years. Overall post-covid numbers have shown a steady growth trajectory, and the trend is expected to grow in 2023.
According to Figure 9, thousands of medical and pharma conferences have been held in the United States over the past five years. It is worth noting that many events scheduled for 2020 were postponed or cancelled due to the COVID-19 pandemic.
Figure 10 below illustrates the number of medical and pharma conferences held in the UK over the past five years. Compared to the pre-pandemic era, the number of conferences hosted post-pandemic has already reached the 2019 count in the UK.
Figure 11 shows the number of medical and pharma conferences held in India over the past five years. Hundreds of medical and pharma conferences were scheduled for 2020, but most got either cancelled or switched to virtual.
While India experienced a lot more virtual events in 2020 than in prior years, the number of conferences hosted in India is increasing steadily post-covid.
Figure 12 illustrates the number of medical and pharmaceutical conferences held in Australia over the past five years. The country’s base is lower than that of the US and UK, but it has shown steady growth since COVID, and the trend is expected to continue through 2023.
NEW EVENTS HOSTED PRE-COVID VS. POST-COVID
The findings in Figure 13 indicate that in 2019 a large number of new medical & pharma events were hosted globally. However, in 2022, the number of new events hosted has not kept pace with reached pre-covd levels. This is majorly due to existing events still coming back instead of demand for new event IPs being created.
The fall in the number of new events due to the pandemic is not unexpected, as many events were either cancelled or postponed. There are indications that the number of medical and pharma events (old events getting rehosted and new events launched) in 2023 will increase, keeping pace with fast innovation in this sector.
EVENTS REHOSTED PRE-COVID VS. POST-COVID
When looking at event hosting trend, its important to note that this number is affected by bi-annual. Additionally. event rehosting means an event being hosted in the same city, as its next edition. If the event get hosted in a different city, as part of a moving event, its considered part of the event series, but a different event on 10Times platform.
As illustrated in Figure 14, overall around 40% event were rehosted every year pre- covid. However, this trend saw a significant change in 2022, where the percentage of rehosted events increased to 58.2%.
This increase in the percentage of rehosted events in 2022 can be attributed to various reasons. Such as:
- Organizers waiting out 2020-2021 to rehost their event in-person event. (Note: If an older edition of an in-person event is rehosted as a hybrid, it’s considered the same event with a new edition on the platform).
- Many event organizers, who earlier were not rehosting their events, went ahead with hosting it virtually to leverage the cost advantage offered by the format.
Overall, the increase in the percentage of rehosted events in 2022 indicates that event organizers are becoming more resourceful and innovative in their approach to hosting or rehosting events.
REGION WISE SEARCH TRENDS FOR MEDICAL & PHARMA EVENTS
Medical and Pharma events attract visitors from different regions to network, exchange ideas, learn about market opportunities, and meet potential clients.
Data shown in Figure 16 indicates that before COVID-19 pandemic hit the world, the majority of medical and pharma events were searched in the Americas, followed by Asia and Europe and then Africa.
No significant change has been seen in the pattern on 10Times. There is a 3% overall increase in the share of America, with a similar percent dip in Europe.
Figure 17 illustrates the overall percentage of people searching for medical and pharma events in the USA has gone up.
COUNTRY WISE SEARCH TRENDS FOR MEDICAL & PHARMA EVENTS
The data in Figure 18 shows percent breakdown across-region for searches by professionals for medical and pharma events before the pandemic and after the pandemic. The United States had the highest number of searches (33%), followed by India and other countries. What’s interesting to note is that individual participant search in the United States has significantly gone up, while that from India took a hit.
Figure 19 compares search percent across major countries pre-post pandemic. While no clear reasoning seems to justify why there would be less searches from India when the number of events went up but, this insight deserves deeper analysis. Our R&D team is doing some qualitative research to get more clarity on the same.
PRE-COVID VS. POST-COVID TRENDS – USERS LOOKING FOR EVENTS WITHIN THE SAME GEOGRAPHY (USA)
Figure 20 shows that a significant percentage of individuals searching for medical and pharmaceutical events from the United States are within the United States, unlike in other geographies, where the search seems to be higher for international events.
The data in Figure 20 also indicates that the number of users searching for such events in 2022 is greater than in 2019, though the increase is modest.
But, what should be noted is the local demand for events happening within the US instead of exploring external markets. We expect this percentage to change in coming years, as shown in other countries grow, and user sellers explore new markets.
PRE-COVID VS. POST-COVID USERS FROM THE USA LOOKING FOR EVENTS OUTSIDE
Figure 21 shows the pre and post-covid users from the US looking at events outside the USA.
As a result of the high number of COVID-19 cases and travel restrictions in China, the country has recorded the lowest search percentage post-pandemic from the US.
This change in search patterns may indicate where US audiences are looking for potential investment opportunities or importing/exporting prospects. The disruption caused by the pandemic is reflected in these figures.
PRE-COVID VS. POST-COVID TRENDS – USERS LOOKING FOR EVENTS WITHIN THE SAME GEOGRAPHY IN THE (INDIA)
Prior to the COVID-19 pandemic, 70% of Indian users, searched for medical and pharmaceutical events being held within India.
As per Figure 22, the number of users looking for medical and pharmaceutical events within India in 2022 is comparatively lower than the pre-covid level. It will be interesting to see if this trend continues. We can attribute this to a higher percentage of Indian companies exploring international events to either sell or source from.
Will big pharma events get rehosted in India in 2023? This trend might reverse. But it would be interesting to keep a close eye on it.
PRE-COVID VS. POST-COVID USERS FROM INDIA LOOKING FOR EVENTS OUTSIDE
Medical and pharma events outside India were attracting an increasing number of visitors from India before the COVID-19 outbreak.
Figure 23 shows the pre and post-covid users from India looking at events outside India. Two major points really stand out. First, the demand for events in China for this sector is almost wiped out. This could be temporary due to China’s covid restrictions and policies, but it might take a while for this demand to reverse.
On the other hand, there is a significant increase in percent share for the United States. So a lot of Indian businesses in this sector are looking towards America in this sector. Lastly, it would be interesting to see how the percent distributions change in 2023, especially with push in hosting large format events in UAE (Dubai) and visa issues in USA.
PRE-COVID VS. POST-COVID USERS TRENDS – USERS LOOKING FOR EVENTS WITHIN THE SAME GEOGRAPHY IN THE (UK)
Figure 24 shows that 51.8% of users were looking for medical and pharmaceutical events in the UK before covid-19.
In 2022, medical and pharmaceutical searches within the UK soared to pre- pandemic levels and were slightly higher than pre-covid levels, as shown in Figure 21. But overall, we can say it’s an even split. Around 50% of the users from the UK search for events locally, while others explore international markets. (Note: It would be worth exploring how this compares with other EU countries.)
PRE-COVID VS. POST-COVID USERS FROM THE UK LOOKING FOR EVENTS OUTSIDE
Users from the UK actively search for medical and pharma events in countries outside the UK. Figure 25 shows the pre and post-covid users from the UK looking at events outside the UK.
Countries such as the US, Germany, Spain, France, and Italy have reached or are almost at pre-pandemic levels. With a high number of cases in China, the COVID- 19 pandemic greatly affected the Asia Pacific (APAC) events market.
In terms of search percentage for medical and pharma events, the United States was the top choice for users in the United Kingdom both pre- and post-covid.Besides the USA, user search from the UK seems to be well spread across regions, and no major percent change in demand, besides China & Switzerland (Note: while the dip is 50%, the base search query, in general, was low from both these countries).
PRE-COVID VS. POST-COVID USERS TRENDS – USERS LOOKING FOR EVENTS WITHIN THE SAME GEOGRAPHY IN THE (CANADA)
In 2022, medical and pharmaceutical searches within Canada almost touched pre- pandemic percentage, as shown in Figure 26. The country is well-balanced in terms of user demand for local and international events, similar to the UK but starkly different from US and India.
Medical and pharma events are gaining more recognition among professionals in Canada. The medical and pharma industry in Canada is a major contributor to the country’s economy and is responsible for providing Canadians with the best healthcare possible.
In 2022, Canada successfully played host to many medical and pharma events, proving the resilience and dynamism of a sector ready to rebound.
PRE-COVID VS. POST-COVID USERS FROM CANADA LOOKING FOR EVENTS OUTSIDE
Figure 27 shows pre- and post-covid users from Canada searching for medical and pharm events outside the country.
What’s notable below is signs of an increase in interest in events happening in Japan and Spain. It would be interesting to note if any specific events caused this upsurge or if it is a long-term trend.
We should also watch how China opening up would affect the percent spread in 2023, as China lost almost all traffic in 2022.Overall, Canada seems to be highly dependent on USA events in this sector, with over 50% of users searching for events there consistently.
PRE-COVID VS. POST-COVID USERS TRENDS – USERS LOOKING FOR EVENTS WITHIN THE SAME GEOGRAPHY IN THE (AUSTRALIA)
Before the COVID-19 pandemic, approximately 47% of medical and pharmaceutical professionals from Australia were seeking events within the country. As depicted in Figure 28, the percentage of users searching for medical and pharmaceutical events has increased in 2022, surpassing the pre-pandemic search percentage.
This is an interesting trend with a significant change in pattern. Would Australian users continue to grow their demand for local events over shows happening in other regions? It would be worth tracking.
PRE-COVID VS. POST-COVID USERS FROM AUSTRALIA LOOKING FOR EVENTS OUTSIDE
As per the data shown in Figure 29, a significant number of medical and pharmaceutical professionals from Australia have been searching for events outside Australia to meet global manufacturers, suppliers, and distributors of medical devices and equipment.
If we look closely, there seem to be some interesting changes in user demand in Australia. Putting aside numbers from the US and China (fall-out), new regions (UK, Japan, New Zealand, and Canada) gained market share last year while nearby counties like Singapore & India have lost market share.
SEARCH QUERIES USED BY USERS TO FIND MEDICAL & PHARMA EVENTS
During the past year, various search queries were used by users to find medical and pharmaceutical events. Our research found that the most frequently searched terms were “medical conferences,” “medical fair,” “global health exhibition,” “medical events,” “medical expo,” and “medical exhibition.”
Users looking for events in the medical and pharmaceutical sector were particularly searching for medical conferences. The data suggests that users utilized different queries to discover events pertinent to their specific interests and requirements within the industry.
(Note: Interesting trends can emerge if we look closely at sub-sectors and remove the obvious keywords mentioned above.)
MEDICAL AND PHARMA EXHIBITORS
From global manufacturers to established device suppliers, medical and pharma industry professionals actively look for industry events to showcase their innovative products & solutions.
The medical and pharma events cover the end-to-end supply chain and allow exhibitors to meet key industry stakeholders, investors, etc., from every area of the medical and pharma industry.
COVID-19 led to a significant decline in demand in exhibitors’ inquiries for medical and pharma events during the last three years. However, we see demand slowly crawling back up in 2022 and expect it to rise significantly in 2023. Some internal hypotheses we have internally are:
- Exhibitors already paid for 2020 shows in 2019 (which were rescheduled).
- Not enough new companies are still looking at events as a viable marketing channel.
Overall, the decrease in medical and pharmaceutical event exhibitors in 2022 is not unexpected, given the effects of the pandemic. While this decrease may be a temporary setback, it is imperative to note that the medical and pharma events industry is resilient and continues to innovate and adapt to the changing landscape.
While the overall count has not reached 2019 numbers, medical and pharmaceutical events are expected to rebound and meet 2019 numbers in 2023.
Disclaimer: All data, statistics, and metrics used in the report are collected and obtained from 10times.
CONCLUSION
Despite the obstacles presented by the COVID-19 pandemic, the medical and pharmaceutical event industry has demonstrated its capability to adapt. As a result of the widespread adoption of virtual and hybrid formats, the number of events held in 2022 has reached and exceeded pre-pandemic levels in most regions.
Our research indicates that the top five countries that hosted the most medical and pharmaceutical events were the United States, the United Kingdom, India, Australia, and Canada. All these regions have fully recovered with respect to the number of events held before the pandemic.
Search trends also indicate that post-pandemic, users are primarily searching for medical and pharmaceutical events within their own countries due to concerns about health and safety, uncertainty surrounding COVID-19, and travel restrictions. The United States has emerged as a top destination for events outside of a user’s home country, with the highest number of searches for medical and pharmaceutical events from other countries.
As the events landscape continues to evolve, the demands of attendees remain unchanged and may even have increased. As a result, event organizers must be proficient in various formats and tools to deliver events that meet elevated expectations.
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