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Healthcare Glossary

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Market growth rate

The rate at which a market's size is increasing. This is usually expressed as a percentage per annum.

Market growth comparisons are a primary barometer of the progress of a business.

The market growth rate is a key factor to be considered when calculating the development of a specific product in a particular market. Commonly marketers create a marketing campaign founded primarily on maximising a specific market's growth rate. This can be achieved through comprehensive advertising to allow consumers better awareness of the product or greater perceived understanding of their need for that product.

See also:
Market Forecast
Market entry
Market penetration

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