The Global Pharma Contract Sales Market Will Be Driven by Cost Saving and the Need for More Flexibility
Thursday 7 March 2019, Amsterdam
Dominated by the contract sales detailing services, the Global Pharma Contract Sales Market is estimated to grow at a CAGR of 7.2%% from 2019 to 2029.
Outsourcing is a growing trend in the pharma industry, with contract providers now offering services from the drug discovery stage through to commercialisation, manufacturing and sales.
Both large and small pharma companies are becoming increasingly reliant upon contract service providers, as they look to focus on perceived core competencies in-house, although companies can now outsource almost any task. Significant changes have been made to pharma sales strategies, with many leading companies cutting sales forces. As pharmaceutical companies are restructuring and cutting operational cost, jobs are being cut especially in divisions that can be outsourced.
Leading companies such as CMIC, IQVIA, Marvecs, Oncall, UDG Healthcare and others are investing in the pharma contract sales market.
The lead analyst commented that "With higher-cost therapies in development, combined with increasing burdens on healthcare budgets from ageing populations and rising disease incidence, market access is becoming more challenging in countries worldwide. Greater emphasis is being placed on demonstrating cost-effectiveness and comparative effectiveness to current therapies. In targeting doctors and other stakeholders, including payers, sales reps must become more knowledgeable on health economic data for new therapies, as well as offering benefits for the patient, such as adherence services.
Leading CSOs have invested in market access consultancy and patient support divisions in recent years in order to meet the expected rise in demand for these services in this 10-year forecast period, and the increasing challenges and complexity of market access provides new opportunities for CSOs to provide services to meet these challenges."