Pharmaceutical Contract Sales Organizations Market Size, Share & Trends Analysis Report By Services (Personal, Non-personal Promotion), By End-use (Pharma, Biopharma Companies), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

全球制药合同销售organizations market was valued at USD 8.6 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2023 to 2030. A growing number of new drug launches, an increase in pharmaceutical R&D activities, and growing demand to reduce the cost associated with in-house sales are some of the key factors supporting the growth of the industry. During the COVID-19 pandemic, the sales activities of drugs were mostly done remotely. i.e., via phone, web conference, email, and through website engagement.

This improved the adoption of new technologies in pharmaceutical contract sales. Moreover, post-pandemic, many COVID-19 vaccines are developed owing to the changing variant of the virus. This is expected to improve the demand for contract sales organization (CSO) activities even post-pandemic. Several drugs have been launched in the last 5 years. A rise in the launch of new drugs, regulatory scrutiny, and the growing need to remain competitive support industry growth. At the same time, promotional preferences and evolving provider habits are changing the traditional model of a sales representative visiting individual doctors.

These factors are expected to improve the demand for contract sales services among pharmaceutical companies and thus promote market growth. The pharmaceutical sales organization is trying to improve its CRM capabilities to improve its sales and marketing efficiencies by adopting digital tools, such as virtual interactions, omnichannel engagement, AI-driven insights, and personalized on-demand content. Adoption of these tools by pharmaceutical contract sales organizations is expected to boost the sales and marketing of pharmaceutical companies, and thus, support market growth.

Services Insights

Based on services, the industry has been segmented into personal promotion and non-personal promotion. The personal promotion segment dominated the industry in 2022 and accounted for the maximum share of 44.4% of the overall revenue. Pharmaceutical companies are increasingly investing in R&D activities, and due to this reason, commercial sales and marketing are essential for the overall revenue of the pharmaceutical company. Moreover, there is a growing interest among pharmaceutical companies to increase their revenue year-on-year, due to which, these companies focus on launching new products.

所有这些因素都支持对个人的需求promotion services. The non-personal promotion segment is expected to exhibit the highest CAGR over the forecast period. Non-personal promotion includes medical affairs solutions, remote medical science liaisons, nurse (clinical) educators, and others. There is a growing need to educate healthcare professionals in the area of medical affairs and to understand the side effects of medications to improve patient care. The non-personal promotion also includes medical science liaison services, which support the pharmaceutical company by informing them of business strategy in product development and market access. The high significance of all these services is expected to support segment growth.

End-use Insights

Based on end-uses, the industry has been segmented into pharmaceutical companies and biopharmaceutical companies. The pharmaceutical companies segment dominated the industry in 2022 and accounted for the maximum share of 59.5% of the overall revenue. An increase in the number of new small molecule drug launches worldwide and the presence of a significant number of pharmaceutical companies offering similar products are one of the key factors contributing to the demand for contract sales services among pharmaceutical companies. Moreover, recruiting and retaining efficient sales professionals for pharmaceutical companies is tough; this further supports the demand for CSO services for pharmaceutical companies.

The biopharmaceutical companies segment is expected to grow at the fastest CAGR during the forecast period. Biopharmaceutical companies are now focusing on improving their research capabilities. According to the Pharma R&D annual review, in 2022, over 45% of the total drugs in the pipeline were biopharmaceuticals. Owing to the high interest of biopharmaceutical companies in research, it is expected that these companies will outsource their sales activities to CSOs to focus on their research capabilities. This is expected to support segment growth.

Regional Insights

On the basis of geographies, the global industry has been further categorized into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominated the global industry in 2022 and accounted for the maximum share of more than 34.45% of the overall revenue. The presence of a significant number of CSOs, such as EPS Corp., IQVIA, Inc., and Axxelus, in the region is one of the key reasons supporting its growth. The adoption of new technologies in the region for pharmaceutical sales and a significant number of new drug launches in the region are further supporting the demand for pharmaceutical CSOs.

On the other hand, the Asia Pacific region is expected to register the fastest growth rate during the forecast period. The region has a significant number of pharmaceutical and biopharmaceutical companies that are constantly inventing new therapeutics, which is increasing the demand for CSO activities in the region. The region provides CSO services at a low cost as compared to other developed regions; this is expected to improve the CSO activities, thereby supporting the segment market.

Key Companies & Market Share Insights

行业参与者进行各种战略initiatives, such as partnerships, collaborations, mergers and acquisitions, and geographic expansion, aiming to strengthen their service portfolio and provide a competitive advantage. For instance, in September 2022, IQVIA, Inc., partnered with pharmaceutical company Dr. Reddy's Laboratories. As per the partnership, IQVIA provided Dr. Reddy’s with its Orchestrated Customer Engagement (OCE) platform to support its CRM operations. As per the agreement, Dr. Reddy's provided IQVIA’s OCE application to entire marketing users and field forces in India to help them in obtaining more impactful and meaningful customer engagement by seamlessly linking marketing, account management, medical science liaison, sales, and other functions. Some of the prominent players in theglobal pharmaceutical contract sales organizations market 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

Pharmaceutical Contract Sales OrganizationsMarketReport Scope

Report Attribute	Details
Market size value in 2023	USD 9.2 billion
Revenue forecast in 2030	USD 16.3 billion
Growth rate	CAGR of 8.4% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Revenue in USD million/billion and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends
Segments Covered	Service, end-use, region
Regional scope	北美;欧洲;亚太地区;拉丁美洲; MEA
Country scope	U.S.; Canada; Germany; U.K.; France; Italy; Spain; Denmark; Sweden; Norway; Japan; China; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait
Key companies profiled	CMIC Holdings Co., Ltd.; Axxelus; EPS Corp.; QFR Solutions; MaBico; Mednext Pharma Pvt. Ltd.; Peak Pharma Solutions Inc.; IQVIA, Inc.; Promoveo Health; Syneous Health
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

Global Pharmaceutical Contract Sales OrganizationsMarket Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global pharmaceutical contract sales organizations market report based on service, end-use, and region:

• Service Outlook (Revenue, USD Million, 2018 - 2030)

  • Personal Promotion

    • Promotional Sales Team

    • Key Account Management

    • Vacancy Management

  • Non-personal Promotion

    • Medical Affairs Solutions

    • Remote Medical Science Liaisons

    • Nurse (Clinical) Educators

    • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmaceutical Companies

  • Biopharmaceutical Companies

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • 拉丁美洲

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait