Pharmaceutical Contract Sales Outsourcing (CSO)
Market: Introduction
According to the report, the global pharmaceutical contract sales outsourcing (CSO) market was
valued at US$ 7 Bn in 2020 and is projected
to expand at a CAGR of ~7% from 2021 to 2031.
Increase in R&D and other operating costs in pharmaceutical industries
induces medium and large pharmaceutical companies to outsource their sales
operations, as it offers cost controls, better results, and flexibility in
terms of operations is anticipated to drive the global pharmaceutical contract
sales outsourcing (CSO) market from 2021 to 2031.
North America is expected to account for a
significant share of the global pharmaceutical contract sales outsourcing (CSO)
market during the forecast period. Well-established healthcare, early adoption
of technologically advanced services, and increase in acceptance & demand
for pharmaceutical contract sales outsourcing services are the major factors
likely to drive the market in the region during the forecast period. The market
in Asia Pacific is projected to expand at a high CAGR from 2021 to 2031.
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Digitalization of Services Provided by CSOs to
Propel Market
Improved and advanced services provided by CSOs
such as in the field of non-personal promotions are anticipated to drive the
global market during the forecast period. Large as well as small pharmaceutical
companies are looking for drugs to cost effectively and quickly enter their
pipelines and CSOs play an important role in this endeavor.
The rise in virtual detailing in outsourcing
services is increasing dependence on CSO services. The surge in the usage of
teledetailng propels the non-personal promotion of outsourcing. These advanced
functions, including sales force and customer support are well-established in a
CSO, and hence, can help the brand to get market recognition faster.
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Personal Promotion to Dominate Global Market
In terms of service, the global pharmaceutical
contract sales outsourcing (CSO) market has been classified into personal
promotion, non-personal promotion, and others. The personal promotion segment
has been split into promotional sales team, key account management, and vacancy
management. The non-personal promotion segment has been segregated into
tele-detailing, interactive e-detailing, customer service, medical science
liaisons, patient engagement services, and others.
The personal promotion segment is expected to
dominate the global pharmaceutical contract sales outsourcing (CSO) market
from 2021 to 2031. Significant increase in
research & development costs, technological advancements, and product
innovations have induced several pharmaceutical companies to outsource sales
services to CSOs. This drives the personal promotion services segment.
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Oncology to Grow at Faster Rate
Based on therapeutic area, the global
pharmaceutical contract sales outsourcing (CSO) market has been categorized
into cardiovascular disorders, oncology, metabolic disorders, neurology,
orthopedic diseases, infectious diseases, and others. The oncology segment is
likely to expand at a higher CAGR during the forecast period.
Competition Landscape
The report provides profiles of leading players
operating in the global pharmaceutical contract sales outsourcing (CSO) market.
These include Ashfield (UDG Healthcare plc), inVentiv Health, Inc. (Syneos
Health), IQVIA, Granard Pharmaceutical Sales & Marketing, Vanguard Pharma,
Inc., GTS Solution, EVERSANA, MaBiCo, QFR Solutions, Pharmaforce Ireland Ltd.,
Sales Focus, Inc., Amplity Health, and PharmaLex GmbH.
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Global Pharmaceutical Contract Sales Outsourcing
(CSO) Market: Segmentation
- Pharmaceutical Contract Sales Outsourcing (CSO) Market, by Service
- Personal Promotion
- Promotional Sales Team
- Dedicated Sales Team
- Syndicated Sales Team
- Key Account Management
- Vacancy Management
- Non-personal Promotion
- Tele-detailing
- Interactive E-detailing
- Customer Service
- Medical Science Liaisons
- Patient Engagement Services
- Others (telesampling)
- Others (Field Management/Reporting and Sales Training)
- Pharmaceutical Contract Sales Outsourcing (CSO) Market, by
Therapeutic Area
- Cardiovascular Disorders
- Oncology
- Metabolic Disorders
- Neurology
- Orthopedic Diseases
- Infectious Diseases
- Others
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- Pharmaceutical Contract Sales Outsourcing (CSO) Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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