Pharma Contract Sales market set to grow at a CAGR of 5.8% by 2031: Visiongain Reports Ltd
Visiongain has published a new report entitled the Pharma Contract Sales Market 2021-2031. It includes profiles of Pharma Contract Sales and Forecasts Market Segment by Type (Personal Promotion, Non-Personal Promotion, Co-Promotion) Market Segment by Personal Promotion (Standard Field Force Roles, Sales Deployment, Vacancy Coverage, HCP Educational Programs, Key Account Management, Other Personal Promotion Services) Market Segment by Non-Personal Promotion (Contact Center, Teledetailing, Medical Call Centers, Telesampling, Online Services) Market Segment by Co-Promotion (Marketing Research and Consulting, Product Commercialization, Territory Optimization & Alignment, Brand Management, Mature Product Line Support, Rest All CSO Services) Market Segment by Therapeutic (Cardiovascular Disease, Metabolic Disorders, Oncology, Alzheimer's Disease, Diabetes, Other Therapeutics) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country
Visiongain’s lead expert says: ‘The global Pharma Contract Sales market was valued at US$5031 million in 2020 and is projected to grow at a CAGR of 5.8% during the forecast period 2021-2031. Pharma services companies are widening their service offerings (either organically or inorganically through M&A) to become full-service providers, 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’.
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How has COVID-19 had a significant negative impact on the Pharma Contract Sales Market?
This COVID-19 related shortage also affected the health market for medical devices and personal protective equipment (PPE), which includes protective goggles and visors, mouth-nose protection equipment, and protective clothing and gloves, that made countries to legislate regulations in this regard. The market entry facilitation and export restrictions of PPE and selected medical devices European Commission (2020/403 of 13 March 2020) is one example, at global levels.
How will this report benefit you?
Visiongain’s 514+ page report provides 331 tables and 311 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global pharma contract sales market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Pharma Contract Sales. Get the financial analysis of the overall market and different segments including type, Personal Promotion, Non-Personal Promotion, Co-Promotion, therapeutic and capture higher market share. We believe that high opportunity remains in this fast-growing pharma contract sales market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Inclination Of Pharma Companies Towards Contract Sales to Gain a Competitive Edge
The pharma services industry is consolidating as companies aim to gain a competitive edge over their competitors by increasing size, expanding geographical reach, and achieving synergies. Recent M&A in the sub-sector motivated by pharma's desire to work with less outsourced service providers, as well as a desire to consolidate but also broaden service portfolios outside of conventional CSO services into complementary adjacent fields. Ash field's entrance into the commercialization consulting and marketing industries is an example of this.
The Pharma Contract Sales Is "All-In-One" Solution
Pharma services companies are widening their service offerings (either organically or inorganically through M&A) to become full-service providers, 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. For example, The Apodi Healthcare is providing wide range of solutions such as for human-centred, requiring the deployment of promotional resources and/or healthcare professionals, and are often aided by cutting-edge technology. Their services are mainly focused on educating and promoting drugs to healthcare professionals, as well as providing patient programmes that help their strategies make a real difference by improving patients' lives, funding the NHS, and generating revenue for their clients.
Where are the market opportunities?
Outsourcing is becoming more common due to pressures from the pharmaceutical industry.
Although attractive as the pharmaceutical industry's fundamental principles remain, the increased cost of R&D and continuing strain on the operating margins of pharmaceutical companies has encouraged the industry to out-source its non-core operations and streamline its fixed cost bases. The industry is expected to continue to expand its medium-term pressures combined with considerable headroom in today's outsourcing penetration. While the market size of clinical research organisations (CRO-conducted clinical development) was $36.7 billion in to 2020.
Increased Interest in CRO Services is Fuelled by Data
Data and analytics are becoming increasingly crucial for the provision of CRO services. M&A objectives have in recent years been set by several organisations specialising in these areas. Big data utilisation in testing is quickly rising and has increased the quality of data collecting so that larger data sets can be analysed better. For Example, in 2020 the eight major European markets, EON has chosen a Publicis Groupe Power of One solution led by Stardom as its media partner.
The major players operating in the pharma contract sales market are: Apodi Healthcare Limited, CMIC Holdings Co., Ltd, Syneos Health Inc., IQVIA Holdings Inc., Marvecs GmbH, OnCall LLC, Publicis Groupe SA, Sofip, UDG Healthcare PLC, Amplity Health, Granard Pharmaceuticals, Vanguard Pharma, GTS Solution, MaBiCo (Contract Sales Organization), Sales Partnerships Inc., QFR Solutions. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. For instance, in Nov 2020, Mondelez International extended its partnership with Publicis Groupe to cover all production duties across Europe as part of its journey to develop a transformative end-to-end consumer experience. With its integrated creative, media, and development capabilities, Publicis Groupe will create a transformative and seamless consumer experience for Mondelz International brands such as Cadbury, OREO, Milka, LU, Trident, Philadelphia, and RITZ.
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Information found nowhere else
With our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain’s study is for everybody needing commercial analyses for the Pharma Contract Sales Market, and leading companies. You will find data, trends and predictions.
Find more Visiongain research reports on Pharma Sector click on the following links:
- Medical Device Contract Manufacturing Market
- Pharmaceutical Contract Manufacturing Market
- Contract Manufacturing Outsourcing (CMO) of Sterile Injectable Drugs Market
- Pharma Leader Series: Top 50 Pharmaceutical Contract Manufacturing Organisations
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