Contract Sales Organization
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Contract Sales Organization Industry Benchmarks
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The industry average payment terms in Contract Sales Organization category for the current quarter is 58.6 days
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Contract Sales Organization Market Intelligence
global market outlook
- The global CSO market size is estimated to be $8.5-8.7 billion USD in 2022. USA, Canada, Australia and Europe have high market maturity in contract sales.
- Global players in the contract sales include Ashfield Engage, IQVIA, Syneos Health, EVERSANA.
- According to the industry experts, the CSO market will grow at 7% CAGR.
- North America and Europe are the key CSO markets, where the pharma companies outsource nearly 30 percent of their salesforce.
- With increasing demand for the latest sales force automation solution along with the omnichannel patient engagement that enhances seamless communication between the client, sales reps and the field force make contract sales organizations deliver more effectively and efficiently.
Contract Sales Organization market report transcript
Contract Sales Organization Global Market Outlook:
Global Market Size: $8.5–8.7 Billion (2023E)
Global Demand CAGR: Approx. 7 percent (2022–2025F)
The global contract sales market size is $8.5–8.7 billion in 2023E growing at 7 percent CAGR
The US, Canada, Australia and Europe have high market maturity in contract sales
North America is the highest market for Contract sales. China shows the highest YoY growth of market share in Contract sales
- China, India, Brazil, Russia and Australia are expected to be high-growth markets
Global CSO Industry Trends
Suppliers are increasing their geographic footprint as mature buyers move towards supplier consolidation. Many established suppliers in Europe have started operations in other key demand markets like the USA
Companies engage with regional suppliers with local market knowledge. However, engaging with global suppliers can help in adopting the industry trends
Porter's Analysis on Contract Sales Organization
CSOs offer extensive services across the lifecycle of drug and bring in substantial expertise in offering sales solutions and with continued investments in technology by CSOs increases the supplier power
Staffing agencies have extensive capabilities in product placement, in-store merchandising and training activities in FMCG industry which can be leveraged when engaging with CSOs
Barriers to New Entrants
Entry for the new suppliers would be difficult as the supply market is dominated by the global and the regional players.
The markets are dominated by global players like Quintiles, Inventive, Pharmexx, Ashfield Acosta, Crossmark, SPAR, Adecco, Manpower and Randstad etc
Intensity of Rivalry
The local supply market is fragmented and competitive across the globe with only few service providers having global presence
The supply market maturity is high in the mature markets like North America and Europe with no substantial difference in the service capabilities of the service providers
Threat of Substitutes
Physicians are increasingly moving towards internet and pharmaceutical related mobile applications, thereby creating a need for digital representative and electronic detailing.
Although Internet marketing, social marketing and Advertisements are not direct substitutes, companies tend to spend more on these new channels to drive sales.
The Pharmaceutical companies and other companies of other industries can leverage the buyer power by consolidation of services
The Growing competition among the CSOs and growth of new companies enables high buyer power among the companies.
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