31, August 2022
Written by Julian Upton
Contract sales organizations are evolving alongside the companies they serve.
Last year saw a few reports pointing to the current buoyancy—and major forecasted growth—of the contract sales organization (CSO) in the life sciences space. Visiongain valued the 2020 global pharma contract sales market at just over $5 billion and reported that it is set to grow at a compound annual growth rate (CAGR) of 5.8% by 2031. Transparency Market Research’s 2021 Pharmaceutical Contract Sales Outsourcing report placed the market’s 2020 value at $7 billion and forecasts a CAGR of 7% to 2031. India’s Maximize Market Research expected the market to reach $14.5 billion by 2026.
Firms offering contract sales services range from those well known in the pharma support space to others more focused on the sales operation. Companies include IQVIA, Axxelus, Ashfield Engage Medical Sales, QFR Solutions, Syneos Health, Sales Focus, and Amplity Health. As Visiongain noted in its 2021 report, however, many firms are now widening their service offerings, “simplifying their customers’ operations and gaining the maximum share of their outsourcing budgets, driven by the willingness of pharma to reduce the number of outsourcers they use.”
Check the original featured article in the link.
As originally published in
Pharmaceutical Commerce, Pharmaceutical Commerce – August 2022, Volume 17, Issue 4
Securing Sales Solutions in Pharma
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