Global Pharmaceutical Contract Sales Organizations Market is valued at approximately USD 7.90 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.4% over the forecast period 2022-2029. In order to expand the production capacity for vaccinations and other efficient treatment alternatives, the pharmaceutical sector has come under scrutiny. These advances are being used by market participants in the pharmaceutical contract sales outsourcing (CSO) sector to meet consumer and healthcare facility demand. Another significant factor generating income prospects for industry participants in the pharmaceutical contract sales outsourcing (CSO) sector is the increased knowledge of the immune system's potential. A rising desire for lower in-house sales costs, a rise in pharmaceutical R&D activities, and a rising number of new medication launches are a few of the major drivers of the industry's expansion. Moreover, high government initiatives and rising geriatric population are creating a lucrative growth opportunity for the market over the forecast period 2022-2029.
Companies that make biopharmaceuticals are currently concentrating on enhancing their research capacities. Almost 45% of all drugs in development in 2022, as per the Pharma R&D annual review, were biopharmaceuticals. It is anticipated that biopharmaceutical companies will outsource their sales activities to CSOs so they may concentrate on their research capabilities due to the great interest these companies have in research. However, the high cost of Pharmaceutical Contract Sales Organizations stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Pharmaceutical Contract Sales Organizations Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2022, North America had the largest market share, accounting for approximately 34.45% of global industry revenue. One of the main factors promoting the region's growth is the existence of a sizable number of CSOs there, including IQVIA, Inc., EPS Corp., and Axxelus. The demand for pharmaceutical CSOs is further supported by the region's embrace of new technology for pharmaceutical sales and a sizable number of new drug launches in the area. During the projected period, the Asia Pacific region is anticipated to increase at the fastest rate. The demand for CSO operations in the region is rising as a result of the substantial number of pharmaceutical and biopharmaceutical businesses in the area that are consistently developing novel treatments. In comparison to other developed areas, the region offers CSO services at a lower cost; this is anticipated to improve CSO activities and assist the sector market.
Major market players included in this report are:
- CMIC Holdings Co., Ltd.
- Axxelus
- EPS Corp.
- QFR Solutions
- MaBico
- Mednext Pharma Pvt. Ltd.
- Peak Pharma Solutions Inc.
- IQVIA, Inc.
- Promoveo Health
- Syneous Health
Recent Developments in the Market:
- Dr Reddy's Laboratories and IQVIA, Inc. entered a partnership in September 2022. In accordance with the agreement, IQVIA gave Dr Reddy access to its Orchestrated Customer Engagement (OCE) platform to support its CRM activities. According to the deal, Dr Reddy gave IQVIA's OCE application to all of its marketing users and field staff in India so they could more effectively engage customers by integrating marketing, account management, medical scientific liaison, sales, and other activities.
Global Pharmaceutical Contract Sales Organizations Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Service, End-use, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Service offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Service:
- Personal Promotion
- Non-personal Promotion
By End-use:
- Pharmaceutical Companies
- Biopharmaceutical Companies
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Pharmaceutical Contract Sales Organizations Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Pharmaceutical Contract Sales Organizations Market, by Service, 2019-2029 (USD Billion)
- 1.2.3. Pharmaceutical Contract Sales Organizations Market, by End-use, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Pharmaceutical Contract Sales Organizations Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Pharmaceutical Contract Sales Organizations Market Dynamics
- 3.1. Pharmaceutical Contract Sales Organizations Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing pharmaceutical R&D activities
- 3.1.1.2. Growing drug development
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Pharmaceutical Contract Sales Organizations
- 3.1.3. Market Opportunities
- 3.1.3.1. High government initiatives
- 3.1.3.2. Rising geriatric population
Chapter 4. Global Pharmaceutical Contract Sales Organizations Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Investment Adoption Model
- 4.5. Analyst Recommendation & Conclusion
- 4.6. Top investment opportunity
- 4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Pharmaceutical Contract Sales Organizations Market, by Service
- 6.1. Market Snapshot
- 6.2. Global Pharmaceutical Contract Sales Organizations Market by Service, Performance - Potential Analysis
- 6.3. Global Pharmaceutical Contract Sales Organizations Market Estimates & Forecasts by Service 2019-2029 (USD Billion)
- 6.4. Pharmaceutical Contract Sales Organizations Market, Sub Segment Analysis
- 6.4.1. Personal Promotion
- 6.4.2. Non-personal Promotion
Chapter 7. Global Pharmaceutical Contract Sales Organizations Market, by End-use
- 7.1. Market Snapshot
- 7.2. Global Pharmaceutical Contract Sales Organizations Market by End-use, Performance - Potential Analysis
- 7.3. Global Pharmaceutical Contract Sales Organizations Market Estimates & Forecasts by End-use 2019-2029 (USD Billion)
- 7.4. Pharmaceutical Contract Sales Organizations Market, Sub Segment Analysis
- 7.4.1. Pharmaceutical Companies
- 7.4.2. Biopharmaceutical Companies
Chapter 8. Global Pharmaceutical Contract Sales Organizations Market, Regional Analysis
- 8.1. Pharmaceutical Contract Sales Organizations Market, Regional Market Snapshot
- 8.2. North America Pharmaceutical Contract Sales Organizations Market
- 8.2.1. U.S. Pharmaceutical Contract Sales Organizations Market
- 8.2.1.1. Service breakdown estimates & forecasts, 2019-2029
- 8.2.1.2. End-use breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada Pharmaceutical Contract Sales Organizations Market
- 8.3. Europe Pharmaceutical Contract Sales Organizations Market Snapshot
- 8.3.1. U.K. Pharmaceutical Contract Sales Organizations Market
- 8.3.2. Germany Pharmaceutical Contract Sales Organizations Market
- 8.3.3. France Pharmaceutical Contract Sales Organizations Market
- 8.3.4. Spain Pharmaceutical Contract Sales Organizations Market
- 8.3.5. Italy Pharmaceutical Contract Sales Organizations Market
- 8.3.6. Rest of Europe Pharmaceutical Contract Sales Organizations Market
- 8.4. Asia-Pacific Pharmaceutical Contract Sales Organizations Market Snapshot
- 8.4.1. China Pharmaceutical Contract Sales Organizations Market
- 8.4.2. India Pharmaceutical Contract Sales Organizations Market
- 8.4.3. Japan Pharmaceutical Contract Sales Organizations Market
- 8.4.4. Australia Pharmaceutical Contract Sales Organizations Market
- 8.4.5. South Korea Pharmaceutical Contract Sales Organizations Market
- 8.4.6. Rest of Asia Pacific Pharmaceutical Contract Sales Organizations Market
- 8.5. Latin America Pharmaceutical Contract Sales Organizations Market Snapshot
- 8.5.1. Brazil Pharmaceutical Contract Sales Organizations Market
- 8.5.2. Mexico Pharmaceutical Contract Sales Organizations Market
- 8.6. Rest of The World Pharmaceutical Contract Sales Organizations Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Company Profiles
- 9.2.1. CMIC Holdings Co., Ltd.
- 9.2.1.1. Key Information
- 9.2.1.2. Overview
- 9.2.1.3. Financial (Subject to Data Availability)
- 9.2.1.4. Product Summary
- 9.2.1.5. Recent Developments
- 9.2.2. Axxelus
- 9.2.3. EPS Corp.
- 9.2.4. QFR Solutions
- 9.2.5. MaBico
- 9.2.6. Mednext Pharma Pvt. Ltd.
- 9.2.7. Peak Pharma Solutions Inc.
- 9.2.8. IQVIA, Inc.
- 9.2.9. Promoveo Health
- 9.2.10. Syneous Health
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption