The Global Pharmaceutical Contract Sales Outsourcing (CSO) Market is projected to grow at a CAGR of 8.7% during the forecast period (2021 – 2029). The global pharmaceutical contract sales outsourcing (CSO) market is driven by the changing nature of the pharmaceutical industry with new product launches and commercialization. Furthermore, the utilisation of data and technology has become a crucial competitive differentiation for many pharmaceutical companies in the CSO market. The contract sales outsourcing organizations provide a broad range of sophisticated integrated services such as product commercialization, product launch data along with product support, life cycle management, and return on investment analysis amongst others as pharmaceutical companies are shifting towards customer centric CSO industry.
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The research report on Pharmaceutical Contract Sales Outsourcing (CSO) Market will include extensive information based on the following pointers:
- Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Market Determinants and Influencing Factors
- Macro-Economic and Micro-Economic Indicators
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Trends on Global Pharmaceutical Contract Sales Outsourcing (CSO) Market
- Exclusive Details on the Effect of the Pandemic
- Porter’s Five Forces Analysis
- Competitor Landscape
- Product Benchmarking
- Market Share Analysis, 2020
- Global Presence and Growth Strategies
- The final report will include competitive product benchmarking which will encompass comparison of varied services offered by different market participants on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information regarding company details, company overview, product offerings, key developments, financial analysis, and SWOT analysis and business strategies.
- The research study specific to a region, including North America, Europe, Asia Pacific, Middle East & Africa and Latin America, is also available.
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Dedicated Sales Model to Witness Fastest Growth rate over the Forecast Period
Dedicated sales model functions in the same way as in-house sales teams work for the marketing, sales, field management and distribution and other services required in pharmaceutical companies. Since, pharmaceutical companies are increasingly focusing on personalized marketing and contract sales, adopting dedicated sales model has proven to be a huge advantage. As the competition in the pharmaceutical industry is increasing, dedicated CSO representatives are building up wide range of service portfolio such as access to unprecedented levels of data and digital marketing resources, which are focused on the holistic and multichannel commercialisation of the products. Moreover, these pharmaceutical companies require homogenous service offerings across multiple territories, as their offerings need to be tailored on a country by country basis. This represents an opportunity for dedicated pharmaceutical contract sales outsourcing (CSO) market participants, which can offer their customers country specific teams and expertise.
The Impact of COVID-19 Pandemic on the Global Pharmaceutical Contract Sales Outsourcing (CSO) Market
The COVID-19 pandemic has affected the commercialization of pharmaceutical products globally. The pandemic has changed the pharmaceutical industry scenarios dramatically. Through these times, the CSO companies were connected digitally via remote (phone, web conference) and non-personal (email, website) engagements, thus establishing a new norm. The organizations started evaluating their CRM capabilities to empower sales and marketing teams with the right data at the right time. The adoption of novel approaches like virtual interactions, omnichannel engagement, AI-driven insights and personalized on-demand content, pharmaceutical CSOs positioned themselves at a competitive advantage in the marketplace. Amidst the COVID-19 pandemic, a substantial number of appointments are being carried out through a digital medium. Pharmaceutical contract sales organizations (CSOs) are therefore, adjusting to the new engagement model and scaling up their current ecosystem with the right technology and digital tools for the sales team to gain a deeper insights of customer needs in a remote or hybrid setting and to operate within self-sustaining, agile feedback loops. Similar initiatives by companies to adapt more seamlessly with the changing market conditions showcases positive growth prospects for global pharmaceutical contract sales outsourcing (CSO) market over the forecast period.
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Asia Pacific Region Is Expected to Grow at the Highest Rate during the Forecast Years, Primarily driven by the Growing Interest of Drug Manufacturers in Establishing Their Sales Offices in Emerging Countries such as India, Brazil and Others
According to the global figures, Asia Pacific region has the highest population. In countries like India, China and Japan, the pharmaceutical industry is growing at a very fast pace. The economic factors such as aging population, high GDP per capita, health expenditures, health regulatory systems along with adoption of new technologies, innovation and digital transformation are driving the pharmaceutical industry. Pharmaceutical businesses from around the world are increasingly considering Asia to boost sales and marketing, which is simultaneously recognised by the industry as vital for product success. The pharmaceutical sales model in Asia Pacific has been innovated and modified in response to changing dynamics in the pharmaceutical and healthcare sectors. The pharmaceutical contract sales outsourcing (CSO) market participants in these countries are focusing on partnerships with major pharmaceutical companies for commercialization and launching their brand to the market.
The key market participants operating in the Global Pharmaceutical Contract Sales Outsourcing (CSO) Market are:
- Ascott Sales Integration
- Ashfield (UDG Healthcare PLC)
- CMIC HOLDINGS Co., LTD.
- EPS International Co., Ltd.
- Granard Pharmaceutical Sales and Marketing
- GTS Solution
- IQVIA Inc.
- MaBiCo
- Publicis Touchpoint Solutions
- Sales Partnerships, Inc.
- Syneos Health
- Vanguard Pharma Inc
- Other Market Participants
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Global Pharmaceutical Contract Sales Outsourcing (CSO) Market
By Sales Model
- Dedicated Sales Model
- Syndicate Sales Model
By Service Type
- Personal Promotion
- Sales Force Deployment
- Vacancy Management
- Others (Key Account Management, Physician Education Services, Etc.)
- Non-personal Promotion
- Telesales
- Medical Call Centers
- Online Marketing and Sales
- e-Sampling
- Others
- Field Management
- Distribution services
- KOL relationship development program
- Products registration in MOH
- Training and development
- Targeting, Access and Reimbursement
- Others (Recruiting, Sales Training, Etc.)
By Therapeutic Area
- Cardiovascular Disorders
- Oncology
- Covid-19
- Metabolic Disorders
- Neurology
- Orthopaedic Diseases
- Infectious Diseases
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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