'Worldwide pharma contract sales revenues will reach $5.24bn in 2015' says visiongain report
A new report by visiongain, a London-based business information company, predicts that worldwide pharma contract sales revenues will reach $5.24bn in 2015. In particular, non-personal promotional services will stimulate market growth.
- (1888PressRelease) October 05, 2011 - After 2015, revenues for the pharmaceutical contract sales market will continue to rise. Those findings appear in World Pharma Contract Sales Organisation (CSO) Market 2011-2021, published in September 2011.
Providing field sales teams was the largest source of revenue for CSOs in 2010, accounting for 80% of the contract sales market. Pharmaceutical companies in the US, Europe and Japan will continue to reduce their in-house sales forces over coming years, providing an opportunity for outsourcing. Also, greater emphasis on specialty drugs will require new procedures and expertise for sales teams. E-detailing, tele-detailing and medical science liaison (MSL) will have greater prominence, with service providers contributing significantly, visiongain's study finds.
Richard Lang, pharmaceutical industry analyst, said: "Face-to-face detailing of healthcare professionals is still the most common pharmaceutical sales technique in many markets. However, with increasingly busy schedules, more and more doctors are implementing 'no-see' policies for sales reps. Pharmaceutical companies will look to CSOs for new approaches to sales, targeting doctors and healthcare payers. The drive to cut rising healthcare costs will increase the influence of payers in future prescribing decisions."
Between 2011 and 2021, demand for contract sales services will be highest in developed markets. In 2010, the US, Europe and Japan accounted for most of the world market. Demand for contract sales services will also rise strongly in emerging pharma markets such as China and India, according to visiongain's predictions. Companies seeking to enter or expand their sales presence in developing pharma markets will rely increasingly on the local knowledge and expertise of CSOs.
Visiongain forecasts that the overall pharmaceutical contract sales market will grow steadily to 2021. Technology will continue to provide opportunities for innovative methods of pharmaceutical sales. Online detailing and promotion will become commonplace in the near future. Contract pharma organisations must take advantage of those developments to remain competitive this decade. Visiongain's new study adds to its series of reports on the pharmaceutical outsourcing industry and market. Each year, visiongain publishes a wide range of analytical reports for healthcare and other industries.
To view sample page so this report please visit http://www.visiongain.com/Report/691/World-Pharma-Contract-Sales-Organisation-%28CSO%29-Market-2011-2021
For an exec summary please contact Sara Peerun
Email: sara.peerun ( @ ) visiongain dot com
Tel: +44 0 20 7336 6100
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun ( @ ) visiongainglobal dot com or call her on +44 (0) 207 336 6100
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