Global Healthcare Contract Sales Organizations Market Size, Trends & Growth Opportunity, By Service (Personal Promotion, Non-Personal Promotion), By End-use (Pharmaceutical Companies, Biopharmaceutical Companies, Medical Device Companies), Regional Outlook, Competitive Market Share & Forecast, 2022 – 2027.
Global Healthcare Contract Sales Organizations Market.
The Global Healthcare Contract Sales Organizations Market was valued at USD 12.9 billion in 2021 which is expected to reach USD 19.8 billion by 2027 at a CAGR of 7.26% from 2022-2027.
Under contracts with pharmaceutical or biotech companies, the contract sales organization (CSO) provides a variety of services and solutions related to pharmaceutical marketing and sales activities. In the ever-changing pharmaceutical industry, the use of CSOs is an essential strategic option.
Market Drivers
The healthcare contract sales organizations market is expanding due to a variety of factors. The increasing number of new drug launches and pharmaceutical R&D activities are two key factors driving growth. The biopharmaceutical pipeline is also expanding, with biopharmaceuticals accounting for more than 45% of all drugs in the pipeline.
COVID-19 Impact
As the COVID-19 pandemic recedes, healthcare CSOs face a new reality. The post-COVID-19 world has ushered in a new era of remote sales activities, necessitating the adaptation of organizations’ engagement models and sales strategies. Digital tools and technologies have become essential for CSOs in a hybrid or remote setting to gain a deeper understanding of customer needs, deliver effective communication and collaboration, and foster strong customer relationships. As a result, businesses must prioritize investments in technology solutions that allow them to optimize their sales processes, analyze customer data, and provide personalized and effective experiences.
Market Segmentation
The global healthcare contract sales organizations market is segmented into service, end-use, and region.
By services, the market is segmented into personal promotion and non-personal promotion. Further, the market is segmented into pharmaceutical companies, biopharmaceutical companies, and medical device companies.
Regional Analysis
The global healthcare contract sales organizations market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American healthcare contract sales organizations market represents the largest share of the global market. The presence of several well-established CSOs in the region, including Syneos Health, UDG Healthcare plc., and IQVIA, Inc., has been one of the primary factors driving the growth of the North American healthcare contract sales organizations market.
Furthermore, the adoption of new pharmaceutical sales technologies, as well as a significant number of new drug launches in the region, have increased demand for pharmaceutical contract sales services.
Key Players
Various key players are listed in this report such as CMIC HOLDINGS Co., LTD., Axxelus, EPS Corporation, IQVIA, Inc, Publicis Group, UDG Healthcare plc, Syneos Health, and Others.
Market Taxonomy
By Service
• Personal Promotion
• Promotional Sales Team
• Key Account Management
• Vacancy Management
• Non-Personal Promotion
• Medical Affairs Solutions
• Remote Medical Science Liaisons
• Nurse (Clinical) Educators
• Others
By End-Use
• Pharmaceutical Companies
• Biopharmaceutical Companies
• Medical Device Companies
By Region
• North America
• Latin America
• Europe
• China
• Asia Pacific
• Middle East & Africa
Global Healthcare Contract Sales Organizations Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Healthcare Contract Sales Organizations Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Healthcare Contract Sales Organizations Market, By Service
5.1 Y-o-Y Growth Comparison, By Service
5.2 Global Healthcare Contract Sales Organizations Market Share Analysis, By Service
5.3 Global Healthcare Contract Sales Organizations Market Size and Forecast, By Service
5.3.1 Personal Promotion
5.3.1.1 Promotional sales team
5.3.1.2 Key account management
5.3.1.3 Vacancy Management
5.3.2 Non-Personal Promotion
5.3.2.1 Medical affairs solutions
5.3.2.2 Remote medical science liaisons
5.3.2.3 Nurse (Clinical) educators
5.3.2.4 Others
6 Global Healthcare Contract Sales Organizations Market, By End-use
6.1 Y-o-Y Growth Comparison, By End-use
6.2 Global Healthcare Contract Sales Organizations Market Share Analysis, By End-use
6.3 Global Healthcare Contract Sales Organizations Market Size and Forecast, By End-use
6.3. 1 Pharmaceutical companies
6.3.2 Biopharmaceutical companies
6.3.3 Medical device companies
7 Global Healthcare Contract Sales Organizations Market, By Region
7.1 Global Healthcare Contract Sales Organizations Market Share Analysis, By Region
7.2 Global Healthcare Contract Sales Organizations Market Share Analysis, By Region
7.3 Global Healthcare Contract Sales Organizations Market Size and Forecast, By Region
8 North America Healthcare Contract Sales Organizations Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 North America Healthcare Contract Sales Organizations Market Share Analysis, By Service
8.3 North America Healthcare Contract Sales Organizations Market Size and Forecast, By End-use
8.4 North America Healthcare Contract Sales Organizations Market Size and Forecast, By Country
8.5.1 U.S.
8.6.2 Canada
9.7.3 Mexico
9 Europe Healthcare Contract Sales Organizations Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Europe Healthcare Contract Sales Organizations Market Share Analysis, By Service
9.3 Europe Healthcare Contract Sales Organizations Market Size and Forecast, By End-use
9.4 Europe Healthcare Contract Sales Organizations Market Size and Forecast, By Country
9.5.1 Germany
9.6.2 France
9.7.3 UK
9.8.4. Rest of Europe
10 Asia Pacific Healthcare Contract Sales Organizations Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Asia Pacific Healthcare Contract Sales Organizations Market Share Analysis, By Service
10.3 Asia Pacific Healthcare Contract Sales Organizations Market Size and Forecast, By End-use
10.4 Asia Pacific Healthcare Contract Sales Organizations Market Size and Forecast, By Country
10.5.1 China
10.6.2 Japan
10.7.3 India
10.8.4. Rest of Asia Pacific
11 Latin America Healthcare Contract Sales Organizations Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Latin America Healthcare Contract Sales Organizations Market Share Analysis, By Service
11.3 Latin America Healthcare Contract Sales Organizations Market Size and Forecast, By End-use
11.4 Latin America Healthcare Contract Sales Organizations Market Size and Forecast, Country
11.5.1. Brazil
11.6.2. Rest of Latin America
12 Middle East Healthcare Contract Sales Organizations Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Middle East Healthcare Contract Sales Organizations Market Share Analysis, By Service
12.3 Middle East Healthcare Contract Sales Organizations Market Size and Forecast, By End-use
12.4 Middle East Healthcare Contract Sales Organizations Market Size and Forecast, By Country
12.5.1. Saudi Arabia
12.6.2. UAE
12.7.3. Egypt
12.8.4. Kuwait
12.9.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 CMIC HOLDINGS Co., LTD.
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Axxelus
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. EPS Corporation.
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 IQVIA, Inc
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Publicis Group
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 UDG Healthcare plc
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Syneos Health.
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
