The global healthcare contract sales organizations market is expected to reach USD 21.8 billion by 2030, registering a CAGR of 7.8% over the forecast period. High adoption of new technologies for contract sales by healthcare contract sales organizations, an increase in the interest among end users to maximize the sales of biopharmaceutical and small molecule drugs, a need for cost reduction associated with in-house sales, a rise in regulatory scrutiny, evolving provider habits, growing demand for personalized medicine, and increasing competition among healthcare companies are some of the key factors supporting the growth of the Healthcare Contract Sales Organizations market.
Pharmaceutical, biopharmaceutical, and MedTech companies are facing increasing complexity in managing their product portfolios and engaging with stakeholders due to the constant advancement of healthcare systems and technologies. The COVID-19 pandemic has also posed challenges in effectively engaging with healthcare professionals. To address these challenges, many companies are turning to contract sales organizations as outsourcing partners. CSOs offer dedicated services for various industries and provide flexibility in scaling sales forces up or down as needed. This strategic option is driving the growth of the healthcare contract sales organizations market and allowing companies to focus on development, performance, and growth while CSOs handle sales activities.
The healthcare contract sales organizations market is being driven by the adoption of the latest sales force automation solutions and omnichannel patient engagement. These technologies enable seamless communication between clients, sales representatives, and the field force, leading to increased efficiency and effectiveness in delivering services. As companies seek to maximize their sales and expand their businesses, CSOs are delivering services more effectively and efficiently with the help of these technological advancements. With the increasing demand for these solutions, the healthcare contract sales organizations market is expected to grow further in the coming years.
Pharmaceutical, biopharmaceutical, and MedTech companies are facing increasing complexity in managing their product portfolios and engaging with stakeholders due to the constant advancement of healthcare systems and technologies. The COVID-19 pandemic has also posed challenges in effectively engaging with healthcare professionals. To address these challenges, many companies are turning to contract sales organizations as outsourcing partners. CSOs offer dedicated services for various industries and provide flexibility in scaling sales forces up or down as needed. This strategic option is driving the growth of the healthcare contract sales organizations market and allowing companies to focus on development, performance, and growth while CSOs handle sales activities.
The healthcare contract sales organizations market is being driven by the adoption of the latest sales force automation solutions and omnichannel patient engagement. These technologies enable seamless communication between clients, sales representatives, and the field force, leading to increased efficiency and effectiveness in delivering services. As companies seek to maximize their sales and expand their businesses, CSOs are delivering services more effectively and efficiently with the help of these technological advancements. With the increasing demand for these solutions, the healthcare contract sales organizations market is expected to grow further in the coming years.
Healthcare Contract Sales Organizations Market Report Highlights
- The personal promotion segment accounted for 46.6% of the Healthcare Contract Sales Organizations Market in 2022. This can be attributed to the growing R&D activities of pharmaceutical, biopharmaceutical, and MedTech companies, which are expected to increase the number of new product launches and approvals, thereby supporting the growth of the personal promotion segment.
- Pharmaceutical companies segment held the largest share of 37.6% in 2022 in the Healthcare Contract Sales Organizations Market based on end-use. This can be attributed to the intense competition among pharmaceutical companies to maximize their sales, which in turn has created a demand for efficient teams to support their sales activities.
- The North American region accounted for the largest share of over 40.0% in the healthcare contract sales organizations market in 2022. This can be attributed to the presence of a substantial number of pharmaceutical, biopharmaceutical, and MedTech companies in the region. These companies are actively investing in R&D activities, launching new products, and focusing on maximizing their sales, thereby increasing the demand for efficient contract sales services to support their sales activities.
Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.1.1. Service
1.1.2. End use
1.1.3. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.4. Information or Data Analysis
1.4.1. Data analysis models
1.5. Market Formulation & Validation
1.6. Model Details
1.6.1. Commodity flow analysis
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
1.9.1. Objective 1
1.9.2. Objective 2
1.9.3. Objective 3
1.9.4. Objective 4
Chapter 2. Executive Summary
2.1. Market Outlook
Chapter 3. Healthcare Contract Sales Organizations Market (CSO) Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Market Dynamics
3.2.1. Market driver analysis
3.2.1.1. Increase the R&D activities on drugs and increase in the drug pipeline
3.2.1.2. Growing interest of healthcare companies to increase the sales of the products
3.2.1.3. Adoption of digital technologies by Healthcare Contract Sales Organizations
3.2.2. Market restraint analysis
3.2.2.1. Quality issues associated with outsourcing
3.2.3. Covid-19 Impact & Recovery Analysis
3.2.4. Industry Analysis - Porter’s
3.2.5. PESTLE Analysis
Chapter 4. Healthcare Contract Sales Organizations Market (CSO): Service Segment Analysis
4.1. Healthcare Contract Sales Organizations Market (CSO) Market : Definition & Scope
4.2. Healthcare Contract Sales Organizations Market (CSO) Market : Service Market Share Analysis, 2022 & 2030
4.2.1. Personal Promotion
4.2.1.1. Personal promotion market, 2018 - 2030 (USD Million)
4.2.1.2. Promotional sales team
4.2.1.2.1. Promotional sales team market, 2018 - 2030 (USD Million)
4.2.1.3. Key account management
4.2.1.3.1. Key account management market, 2018 - 2030 (USD Million)
4.2.1.4. Vacancy Management
4.2.1.4.1. Vacancy Management market, 2018 - 2030 (USD Million)
4.2.2. Non-Personal Promotion
4.2.2.1. Non-Personal promotion market, 2018 - 2030 (USD Million)
4.2.2.2. Medical affairs solutions
4.2.2.2.1. Medical affairs solutions market, 2018 - 2030 (USD Million)
4.2.2.3. Remote medical science liaisons
4.2.2.3.1. Remote medical science liaisons market, 2018 - 2030 (USD Million)
4.2.2.4. Nurse (clinical) educators
4.2.2.4.1. Nurse (clinical) educators market, 2018 - 2030 (USD Million)
4.2.2.5. Others
4.2.2.5.1. Others market, 2018 - 2030 (USD Million)
Chapter 5. Healthcare Contract Sales Organizations Market (CSO): End-use Segment Analysis
5.1. Healthcare Contract Sales Organizations Market (CSO) Market : Definition & Scope
5.2. Healthcare Contract Sales Organizations Market (CSO) Market : End-use Market Share Analysis, 2022 & 2030
5.2.1. Pharmaceutical companies
5.2.1.1. Pharmaceutical companies Market, 2018 - 2030 (USD Million)
5.2.2. Biopharmaceutical companies
5.2.2.1. Biopharmaceutical companies Market, 2018 - 2030 (USD Million)
5.2.3. Medical device companies
5.2.3.1. Medical device companies Market, 2018 - 2030 (USD Million)
Chapter 6. Healthcare Contract Sales Organizations Market (CSO): Regional Analysis
6.1. Healthcare Contract Sales Organizations Market (CSO): Regional market share analysis, 2022 & 2030
6.2. North America
6.2.1. North America Market estimates and forecast, 2018 - 2030
6.2.2. U.S.
6.2.2.1. U.S. Market estimates and forecast, 2018 - 2030
6.2.3. Canada
6.2.3.1. Canada Market estimates and forecast, 2018 - 2030
6.3. Europe
6.3.1. Europe Market estimates and forecast, 2018 - 2030
6.3.2. U.K.
6.3.2.1. U.K. Market estimates and forecast, 2018 - 2030
6.3.3. Germany
6.3.3.1. Germany Market estimates and forecast, 2018 - 2030
6.3.4. France
6.3.4.1. France Market estimates and forecast, 2018 - 2030
6.3.5. Italy
6.3.5.1. Italy Market estimates and forecast, 2018 - 2030
6.3.6. Spain
6.3.6.1. Spain Market estimates and forecast, 2018 - 2030
6.3.7. Denmark
6.3.7.1. Denmark Market estimates and forecast, 2018 - 2030
6.3.8. Sweden
6.3.8.1. Sweden Market estimates and forecast, 2018 - 2030
6.3.9. Norway
6.3.9.1. Norway Market estimates and forecast, 2018 - 2030
6.4. Asia Pacific
6.4.1. Asia Pacific Market estimates and forecast, 2018 - 2030
6.4.2. Japan
6.4.2.1. Japan Market estimates and forecast, 2018 - 2030
6.4.3. China
6.4.3.1. China Market estimates and forecast, 2018 - 2030
6.4.4. India
6.4.4.1. India Market estimates and forecast, 2018 - 2030
6.4.5. South Korea
6.4.5.1. South Korea Market estimates and forecast, 2018 - 2030
6.4.6. Australia
6.4.6.1. Australia Market estimates and forecast, 2018 - 2030
6.4.7. Thailand
6.4.7.1. Thailand Market estimates and forecast, 2018 - 2030
6.5. Latin America
6.5.1. Latin America Market estimates and forecast, 2018 - 2030
6.5.2. Brazil
6.5.2.1. Brazil Market estimates and forecast, 2018 - 2030
6.5.3. Mexico
6.5.3.1. Mexico Market estimates and forecast, 2018 - 2030
6.5.4. Argentina
6.5.4.1. Argentina Market estimates and forecast, 2018 - 2030
6.6. `MEA
6.6.1. MEA Market estimates and forecast, 2018 - 2030
6.6.2. South Africa
6.6.2.1. South Africa Market estimates and forecast, 2018 - 2030
6.6.3. Saudi Arabia
6.6.3.1. Saudi Arabia Market estimates and forecast, 2018 - 2030
6.6.4. UAE
6.6.4.1. UAE Market estimates and forecast, 2018 - 2030
6.6.5. Kuwait
6.6.5.1. Kuwait Market estimates and forecast, 2018 - 2030
Chapter 7. Competitive Landscape
7.1. CMIC HOLDINGS Co., LTD
7.1.1. Company overview
7.1.2. Financial performance
7.1.3. Service benchmarking
7.1.4. Strategic initiatives
7.2. Axxelus
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Service benchmarking
7.2.4. Strategic initiatives
7.3. EPS Corporation.
7.3.1. Company overview
7.3.2. Financial performance
7.3.3. Service benchmarking
7.3.4. Strategic initiatives
7.4. QFR SOLUTIONS
7.4.1. Company overview
7.4.2. Financial performance
7.4.3. Service benchmarking
7.4.4. Strategic initiatives
7.5. MaBico
7.5.1. Company overview
7.5.2. Financial performance
7.5.3. Service benchmarking
7.5.4. Strategic initiatives
7.6. Mednext Pharma Private Limited
7.6.1. Company overview
7.6.2. Financial performance
7.6.3. Service benchmarking
7.6.4. Strategic initiatives
7.7. Peak Pharma Solutions Inc.
7.7.1. Company overview
7.7.2. Financial performance
7.7.3. Service benchmarking
7.7.4. Strategic initiatives
7.8. IQVIA, Inc.
7.8.1. Company overview
7.8.2. Financial performance
7.8.3. Service benchmarking
7.8.4. Strategic initiatives
7.9. Promoveo Health
7.9.1. Company overview
7.9.2. Financial performance
7.9.3. Service benchmarking
7.9.4. Strategic initiatives
7.10. Syneos Health
7.10.1. Company overview
7.10.2. Financial performance
7.10.3. Service benchmarking
7.11. Publicis Group
7.11.1. Company overview
7.11.2. Financial performance
7.11.3. Service benchmarking
7.11.4. Strategic initiatives
7.12. UDG Healthcare plc.
7.12.1. Company overview
7.12.2. Financial performance
7.12.3. Service benchmarking
7.12.4. Strategic initiatives
List of Tables
Table 1 List of secondary sources
Table 2 List of Abbreviations
List of Figures
Fig. 1 Market research process
Fig. 2 Information Procurement
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain based sizing & forecasting
Fig. 6 QFD modelling for market share assessment
Fig. 7 Market segmentation & scope
Fig. 8 Healthcare CSO market outlook, 2018 - 2030
Fig. 9 Market trends & outlook
Fig. 10 Market driver relevance analysis (Current & future impact)
Fig. 11 Market restraint relevance analysis (Current & future impact)
Fig. 12 SWOT Analysis, By Factor (political & legal, economic and technological)
Fig. 13 Porter’s Five Forces Analysis
Fig. 14 Healthcare CSO market : Service outlook key takeaways
Fig. 15 Healthcare CSO market : Service movement analysis
Fig. 16 Personal Promotion market, 2018 - 2030 (USD Million)
Fig. 17 Promotional sales team-market, 2018 - 2030 (USD Million)
Fig. 18 Key account management market, 2018 - 2030 (USD Million)
Fig. 19 Vacancy management market, 2018 - 2030 (USD Million)
Fig. 20 Non - Personal Promotion market, 2018 - 2030 (USD Million)
Fig. 21 Medical affairs solutions market, 2018 - 2030 (USD Million)
Fig. 22 Remote medical science liaisons market, 2018 - 2030 (USD Million)
Fig. 23 Nurse (clinical) educators market, 2018 - 2030 (USD Million)
Fig. 24 Others market, 2018 - 2030 (USD Million)
Fig. 25 Healthcare CSO market:End use outlook key takeaways
Fig. 26 Healthcare CSO market:End use movement analysis
Fig. 27 Pharmaceutical companies market, 2018 - 2030 (USD Million)
Fig. 28 Biopharmaceutical companies market, 2018 - 2030 (USD Million)
Fig. 29 Regional market place: Key takeaway
Fig. 30 Healthcare CSO market regional outlook, 2020 & 2028
Fig. 31 North America Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 32 U.S. Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 33 Canada Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 34 Europe Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 35 Germany Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 36 France Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 37 U.K. Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 38 Spain Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 39 Italy Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 40 Denmark Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 41 Sweden Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 42 Norway Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 43 Asia Pacific Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 44 Healthcare CSO market Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 45 Japan Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 46 India Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 47 Thailand Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 48 South Korea Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 49 Australia Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 50 Latin America Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 51 Brazil Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 52 Mexico Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 53 Argentina Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 54 Middle East & Africa Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 55 South Africa Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 56 Saudi Arabia Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 57 UAE Healthcare CSO market market, 2018 - 2030 (USD Million)
Fig. 58 Kuwait Healthcare CSO market market, 2018 - 2030 (USD Million)
Companies Mentioned
- CMIC HOLDINGS Co., LTD
- Axxelus
- EPS Corporation.
- QFR SOLUTIONS
- MaBico
- Mednext Pharma Private Limited
- Peak Pharma Solutions Inc.
- IQVIA, Inc.
- Promoveo Health
- Syneos Health
- Publicis Group
- UDG Healthcare plc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | March 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 11.9 Billion |
| Forecasted Market Value ( USD | $ 21.8 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
