Pharmaceutical Contract Sales Organizations Market Size, Share & Trends Analysis Report By Services (Commercial Services), By End-user, By Region, And Segment Forecasts, 2023 To 2030

The global pharmaceutical CSO market (Contract Sales Organization) is anticipated to reflect a considerable growth rate across the forecast period. A pharmaceutical CSO is a third-party organization, that provides sales services to a pharmaceutical or biopharmaceutical company on a contract basis. These companies offer services such as MR services, recruiting services, training services, remote detailing services, and others. A growing number of new drug launches, an increase in pharmaceutical R&D activities, and growing demand to reduce the cost associated with in-house sales are some of the key factors supporting the growth of the pharmaceutical CSO market

During the COVID-19 pandemic, the sales activities of drugs were mostly done remotely. i.e., via phone, web conference, email, and through website engagement. This improved the adoption of new technologies in pharmaceutical contract sales. Moreover, during the pandemic period, there was a rise in the production of COVID-19 drugs and vaccines. This is expected to have improved the demand for CSO activities, especially for conducting sales effectively, owing to changing market demands. Thus, supporting the market.

Based on end use, the pharmaceutical company segment has held a substantial share in the pharmaceutical CSO market. The increase in the number of new drug launches worldwide and the presence of a significant number of pharmaceutical companies offering similar products are one of the key factors contributing to the demand for contract sales services among pharmaceutical companies. Moreover, recruiting and retaining efficient sales professionals for pharmaceutical companies is tough, this further supports the demand for CSO services for pharmaceutical companies.

North America has held a significant share in the pharmaceutical CSO market in 2022. The presence of a significant number of CSOs such as EPS Corporation, IQVIA, Inc., Axxelus, and others in the region is one of the key reasons supporting the North American pharmaceutical CSO Market. Adoption of new technologies in the region for pharmaceutical sales and a significant number of new drug launches in the region are further supporting the demand for pharmaceutical contract sales services in the region.

The key global industry players across the pharmaceutical CSO market includes CMIC HOLDINGS Co., LTD.; Axxelus; EPS Corporation.; QFR Solutions; MaBiCo; Mednext Pharma Private Limited; Peak Pharma Solutions Inc.; IQVIA, Inc.; Promoveo Healthl; Syneous Health.