Wilmington, Delaware, United States, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.: An assessment by Transparency Market Research [TMR] notes that the global pharmaceutical contract sales outsourcing market is estimated to register growth at a CAGR of 7% during the forecast period, from 2021 to 2031.
Major companies operating in the biotech and pharmaceutical industry are focusing on their core business aspects including highly regulated promotional programs, complex supply chains, and complicated drug trials. This situation is working as a key business opportunity for players operating in the global market for pharmaceutical contract sales outsourcing [CSO].
The demand for services from the pharmaceutical contract sales outsourcing [CSO] market are on rise as key players in the market are offering exclusive platforms in order to streamline varied operations of biotech and pharmaceutical companies. Such factors are expected to help in the boosting the demand for pharmaceutical contract sales outsourcing [CSO] market during the forecast period.
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Appointing a fresh outside talent in order to achieve successful management of different sales processes can help a pharma company gain new insights on meeting their sales goals. Players in the global pharmaceutical contract sales outsourcing [CSO] market are offering advanced strategic insights that can assist pharma manufacturers gain a competitive advantage over other players in the industry.
North America is estimated to offer sizable growth opportunities in pharmaceutical contract sales outsourcing [CSO] market. The growth of the North America pharmaceutical contract sales outsourcing [CSO] market is ascribed to many factors including the presence of a sturdy pharma industry in the region.
Pharmaceutical Contract Sales Outsourcing [CSO] Market: Key Findings
- The pharmaceutical companies from across the globe are increasing expectations from contract sales enterprises pertaining to several key aspects including building a strong sales team rapidly, decreasing the sales team overhead, and saving efforts and time on the recruitment process. In order to fulfill the current needs, sales companies globally are focusing on different strategies such as networking with varied contacts, utilizing a part-time contract sales team, and appointing skilled medical sales representatives, note analysts of a TMR Report on the pharmaceutical contract sales outsourcing [CSO] market.
- Major players in the pharmaceutical industry are focusing on reducing business risks, notes a TMR study on the global pharmaceutical contract sales outsourcing [CSO] market. Moreover, several pharmaceutical contract sales outsourcing [CSO] manufacturers are seen concentrated on the development of part-time contract sales teams in order to eliminate the requirement of investments as well as maintaining a stable infrastructure. Such factors are estimated to help in the expansion of the global pharmaceutical contract sales outsourcing [CSO] market, which is expected to gain a valuation of US$ 14.7 Bn by the end of 2031.
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Pharmaceutical Contract Sales Outsourcing [CSO] Market: Growth Boosters
- Growing focus of pharmaceutical companies on saving their money and time is resulting into boosting the sales opportunities in the pharmaceutical contract sales outsourcing [CSO] market
- The market is being driven by a rise in the adoption of CSO services by pharma companies in order to reduce the management burden
Pharmaceutical Contract Sales Outsourcing [CSO] Market: Key Players
Some of the key players profiled in the report are:
- inVentiv Health, Inc. (Syneos Health]
- Ashfield (UDG Healthcare plc)
- Granard Pharmaceutical Sales & Marketing
- IQVIA
- GTS Solution
- Vanguard Pharma, Inc.
- MaBiCo
- EVERSANA
- Pharmaforce Ireland Ltd.
- QFR Solutions
- Amplity Health
- Sales Focus, Inc.
- PharmaLex GmbH
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Pharmaceutical Contract Sales Outsourcing [CSO] Market Segmentation
Service
- Personal Promotion
- Promotional Sales Team
- Dedicated Sales Team
- Syndicated Sales Team
- Key Account Management
- Vacancy Management
- Promotional Sales Team
- Non-personal Promotion
- Tele-detailing
- Interactive E-detailing
- Customer Service
- Medical Science Liaisons
- Patient Engagement Services
- Others
- Others
Therapeutic Area
- Cardiovascular Disorders
- Oncology
- Metabolic Disorders
- Neurology
- Orthopedic Diseases
- Infectious Diseases
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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