Pharmaceutical Contract Sales Organizations Market Size and Forecasts, Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Services, Modules, Therapeutic Area, End User, and Geography

Description

List of Tables

The pharmaceutical contract sales organizations market size is expected to grow from US$ 8.212 billion in 2022 to US$ 15.820 billion by 2030; it is estimated to record a CAGR of 8.6% during 2022 to 2030.

The pharmaceutical contract sales organizations market growth is attributed to the increasing integration of digital technologies and the growing interest of pharmaceutical companies to increase sales of products.

The increasing use of telemedicine and remote detailing leads to new opportunities for the pharmaceutical contract sales organizations (CSO) market. The transformative influence of digital health technologies has redefined patient-doctor interactions and revolutionized the dynamics of pharmaceutical sales. With its capacity to facilitate virtual consultations and engagements, telemedicine creates a fertile ground for CSOs to adapt and innovate. Remote detailing, which involves using digital channels to communicate product information and engage healthcare professionals, becomes a strategic avenue for CSOs to extend their reach. This strategic change highlights the pharmaceutical industry's proactive approach to navigating the market's complexity. By working with CSOs, these businesses can access specialist sales personnel, leveraging outside expertise to increase market penetration and improve sales effectiveness. Through this collaborative model, pharmaceutical companies may streamline their operations and concentrate on key capabilities like research and development while utilizing the specific knowledge of CSOs to increase the marketability of their products. The rising cooperation between pharmaceutical corporations and CSOs demonstrates a dedication to adaptation and a profound grasp of the developing dynamics within the very competitive pharmaceutical industry. It also displays a nuanced understanding of resource optimization. This mutually beneficial partnership makes revenue maximization possible and strategically places pharmaceutical firms in a market where adaptability and focused market strategies are essential for long-term success.

End User-Based Insights

Based on end user, the pharmaceutical contract sales organizations market is segmented into biopharmaceutical companies and pharmaceutical companies. The pharmaceutical companies segment held a larger market share in 2022. Pharmaceutical companies are the major end users of contract sales organizations (CSOs). These companies utilize CSOs as strategic partners to bolster their sales and marketing endeavors, streamline market access, and optimize resource allocation.

Pharmaceutical companies are increasingly turning to CSO services due to the growing number of new small molecule drug launches worldwide, the presence of a significant number of pharmaceutical companies offering similar products, and the high adoption of new technologies for contract sales by companies. Moreover, recruiting and retaining efficient sales professionals for pharmaceutical companies is challenging; this supports the demand for CSO services for pharmaceutical companies. Pharmaceutical companies are increasingly looking to CSOs to help them build strong sales teams quickly, reduce sales team overhead costs, save time and effort on the recruitment process, and develop part-time contract sales teams to eliminate the need for investments. Thus, the growing focus of pharmaceutical companies on saving money and time is boosting sales opportunities for the pharmaceutical contract sales organizations market.

However, the biopharmaceutical companies segment is anticipated to register a higher CAGR during 2022-2030. Biopharmaceutical companies strategically employ CSOs to optimize various facets of their operations. These partnerships are instrumental in bolstering the sales and marketing activities of biopharmaceutical companies. CSOs provide a roster of experienced sales representatives specializing in biopharmaceutical products, enabling comprehensive product promotion and market penetration. They also provide the agility to scale sales efforts as needed without the long-term financial commitment of an in-house team. Such collaborations offer biopharmaceutical companies expertise, scalability, and cost efficiencies, allowing them to focus on innovation and research while leveraging the specialized skills and resources that CSOs provide for successful product commercialization.

Biopharmaceutical companies are focusing on improving their research capabilities. According to the Pharma R&D annual review, in 2022, more than 45% of the total drugs in the pipeline were biopharmaceuticals. Owing to the high interest of biopharmaceutical companies in research and boosting the sales of biopharmaceutical and small molecule drugs, it is expected that these companies will outsource their sales activities to CSOs in order to focus on their research capabilities, which in turn is anticipated to support the market growth for the segment.

Europe is the second leading region in the market. The demand for pharmaceutical products is growing significantly in this region with the burgeoning prevalence of chronic diseases, the rising geriatric population, and increasing demand for new drug molecules for various therapeutic applications to fulfill unmet needs. Nearly 550 pharmaceutical companies have operations in Germany. Contract sales organizations (CSOs) in this country provide their services to large pharmaceutical companies and small-scale biotech companies, assisting them in attaining leading positions in the European market. As per data by Germany Trade & Invest, pharmaceutical sales in Germany increased by 6.7% in 2020 compared to 2019, reaching US$ 60.79 billion (EUR 49.5 billion).

Major pharmaceutical companies in Belgium include Janssen Pharmaceutica, Solvay, UCB (Union Chimique Belge), and GMED Healthcare, as well as subsidiaries such as BASF Antwerpen and GlaxoSmithKline Biologicals. Further, most leading multinationals-including Pfizer, Sanofi-Aventis, Novartis, GlaxoSmithKline, and AstraZeneca-have a direct presence in Spain. The presence of such pharmaceutical giants has strengthened the European pharmaceutical market. Sales growth strategies adopted by market players are anticipated to drive the pharmaceutical contract sales organizations market in the region. CSO helps attain brand success and secure the financial viability of an emerging pharmaceutical company. Their expertise in areas such as market analysis and targeting analysis helps pharmaceutical companies surpass their target goals. CSOs leverage data analytics tools to gather market insights, track product performance, and identify opportunities. This data-driven approach allows for more targeted marketing and sales efforts. They use machine learning and AI algorithms to analyze data, predict sales trends, and personalize marketing content. Therefore, the proliferating pharmaceutical and biopharmaceutical industries, owing to the presence of top pharmaceutical companies, collaborations of pharmaceutical companies with CSOs, and the strategic efforts of market players to enhance their reach, fuel the growth of the pharmaceutical contract sales organizations market in Europe.

Germany Trade & Invest, GLOBOCAN, the Centers for Disease Control and Prevention (CDC), and the World Health Organization (WHO) are among the primary and secondary sources referred to while preparing the pharmaceutical contract sales organizations market report.

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Product Code: TIPRE00030074

1. Introduction

1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness Analysis

3. Research Methodology

4. Pharmaceutical Contract Sales Organizations Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in the Value Chain

5. Pharmaceutical Contract Sales Organizations Market - Key Market Dynamics

5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints

6. Pharmaceutical Contract Sales Organizations Market - Global Market Analysis

6.1 Pharmaceutical Contract Sales Organizations - Global Market Overview
6.2 Pharmaceutical Contract Sales Organizations - Global Market and Forecast to 2030

7. Pharmaceutical Contract Sales Organizations Market - Revenue Analysis (USD Million) - By Services, 2020-2030

7.1 Overview
7.2 Commercial Services
7.3 Non-Commercial Services

8. Pharmaceutical Contract Sales Organizations Market - Revenue Analysis (USD Million) - By Module, 2020-2030

8.1 Overview
8.2 Syndicated Modules
8.3 Dedicated Modules

9. Pharmaceutical Contract Sales Organizations Market - Revenue Analysis (USD Million) - By Therapeutic Area, 2020-2030

9.1 Overview
9.2 Cardiovascular Disorders
9.3 Oncology
9.4 Metabolic Disorders
9.5 Neurology
9.6 Orthopedic Diseases
9.7 Infectious Diseases
9.8 Others

10. Pharmaceutical Contract Sales Organizations Market - Revenue Analysis (USD Million) - By End User, 2020-2030

10.1 Overview
10.2 Biopharmaceutical Companies
10.3 Pharmaceutical Companies

11. Pharmaceutical Contract Sales Organizations Market - Revenue Analysis (USD Million), 2020-2030 - Geographical Analysis

11.1 North America
- 11.1.1 North America Pharmaceutical Contract Sales Organizations Market Overview
- 11.1.2 North America Pharmaceutical Contract Sales Organizations Market Revenue and Forecasts to 2030
- 11.1.3 North America Pharmaceutical Contract Sales Organizations Market Revenue and Forecasts and Analysis - By Services
- 11.1.4 North America Pharmaceutical Contract Sales Organizations Market Revenue and Forecasts and Analysis - By Module
- 11.1.5 North America Pharmaceutical Contract Sales Organizations Market Revenue and Forecasts and Analysis - By Therapeutic Area
- 11.1.6 North America Pharmaceutical Contract Sales Organizations Market Revenue and Forecasts and Analysis - By End User
- 11.1.7 North America Pharmaceutical Contract Sales Organizations Market Revenue and Forecasts and Analysis - By Countries
  - 11.1.7.1 United States Pharmaceutical Contract Sales Organizations Market
    - 11.1.7.1.1 United States Pharmaceutical Contract Sales Organizations Market, by Services
    - 11.1.7.1.2 United States Pharmaceutical Contract Sales Organizations Market, by Module
    - 11.1.7.1.3 United States Pharmaceutical Contract Sales Organizations Market, by Therapeutic Area
    - 11.1.7.1.4 United States Pharmaceutical Contract Sales Organizations Market, by End User
  - 11.1.7.2 Canada Pharmaceutical Contract Sales Organizations Market
    - 11.1.7.2.1 Canada Pharmaceutical Contract Sales Organizations Market, by Services
    - 11.1.7.2.2 Canada Pharmaceutical Contract Sales Organizations Market, by Module
    - 11.1.7.2.3 Canada Pharmaceutical Contract Sales Organizations Market, by Therapeutic Area
    - 11.1.7.2.4 Canada Pharmaceutical Contract Sales Organizations Market, by End User
  - 11.1.7.3 Mexico Pharmaceutical Contract Sales Organizations Market
    - 11.1.7.3.1 Mexico Pharmaceutical Contract Sales Organizations Market, by Services
    - 11.1.7.3.2 Mexico Pharmaceutical Contract Sales Organizations Market, by Module
    - 11.1.7.3.3 Mexico Pharmaceutical Contract Sales Organizations Market, by Therapeutic Area
    - 11.1.7.3.4 Mexico Pharmaceutical Contract Sales Organizations Market, by End User

Note - Similar analysis would be provided for below mentioned regions/countries

11.2 Europe
- 11.2.1 Germany
- 11.2.2 France
- 11.2.3 Italy
- 11.2.4 Spain
- 11.2.5 United Kingdom
- 11.2.6 Rest of Europe
11.3 Asia-Pacific
- 11.3.1 Australia
- 11.3.2 China
- 11.3.3 India
- 11.3.4 Japan
- 11.3.5 South Korea
- 11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
- 11.4.1 South Africa
- 11.4.2 Saudi Arabia
- 11.4.3 U.A.E
- 11.4.4 Rest of Middle East and Africa
11.5 South and Central America
- 11.5.1 Brazil
- 11.5.2 Argentina
- 11.5.3 Rest of South and Central America

12. Industry Landscape

12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments

13. Competitive Landscape

13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration

14. Pharmaceutical Contract Sales Organizations Market - Key Company Profiles

14.1 CMIC Holdings Co., Ltd.
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments

Note - Similar information would be provided for below list of companies

14.2 Axxelus
14.3 EPS Holdings, Inc.
14.4 MaBico
14.5 IQVIA, Inc.
14.6 Peak Pharma
14.7 QFR Solutions
14.8 Promoveo Health
14.9 Syneous Health Inc.
14.10 Mednext Pharmaceuticals Pvt. Ltd

15. Appendix

15.1 Glossary
15.2 About The Insight Partners
15.3 Market Intelligence Cloud