"Pharmaceutical Contract Sales Market to reach $6.46bn in 2019, new Visiongain analysis predicts"

LONDON - June 11, 2015 - PRLog -- A new report byvisiongain (http://www.visiongain.com/Content/3/About-Us) forecasts the worldwide market for pharmaceutical (http://www.visiongain.com/Sector/8/Pharma)contract sales will generate $6.46bn in 2019. Between 2019 and 2015, that revenue will increase with a CAGR of over 7.2%. Demand for outsourced sales teams and non-personal promotion, such as edetailing, will raise revenues from 2015. Those forecasts and others appear in Pharma Contract Sales Industry and Market: Trends and Forecasts 2015-2025, published in March 2015.

Personal promotion will account for the largest proportion of pharma contract sales organisation (CSO) revenues throughout that 10-year forecasting period. However, faster growth will come from other sectors of the contract sales market. Outsourcing of non-personal promotion will increase from 2015 to 2025, driven by greater use of edetailing and teledetailing. Innovation and improvements to current technology will provide more opportunities for virtual detailing. In 2025, outsourced edetailing will account for $0.26bn in CSO revenues, the report shows. CSOs are expanding beyond traditional sales services to meet demand for market access expertise from pharmaceutical partners. Add-on services, such as medical education and patient compliance, will offer new sources of revenue for CSOs in the years to 2025.

Sandra Wenas, a pharmaceutical industry analyst in visiongain, said: “Historically pharmaceutical companies rely heavily on information dissemination to healthcare professionals via their sales representatives. In today’s environment, where doctors are closing their doors to medical reps, companies are forced to creatively and strategically use other channels without crossing ethics and regulations. Among other efforts, e-detailing is the channel expected to grow the fastest. Despite the heavy deployment of technology platforms, pharmaceutical companies are still to effectively integrate their CRM and CLM.

“A number of CSOs are now differentiating their offers by offering not only sales forces, but also digital content and CLM solutions. Healthcare payers have greater influence in prescribing decisions, complicating market access strategies for pharmaceutical companies. There are more stakeholders to engage, each requiring a different approach and tailored messages. And the role of key account managers has become more important. Also CSOs are partnering with pharma companies not only for contract field sales, but also to offer consultancy on market access, as well as pricing and reimbursement analysis. Medical scientific liaison, patient and nurse educators will also increasingly be outsourced, especially with the increasing recognition of the importance of patient adherence in treating chronic diseases.”

That investigation gives independent quantitative and qualitative analyses of the pharma contract sales market. It shows revenue forecasts to 2025 for that overall world market, its service submarkets, as well as prominent national markets. Those analyses discuss trends affecting that industry and market from 2015, as well as showing interviews with companies. That work explores the commercial potential of outsourced pharmaceutical selling.

In particular, that new survey gives individual predictions of revenues to 2025 for 11 world-level service submarkets:

·         Field sales (detailing)

·         Non-personal promotion, also with sub-forecasting for teledetailing, e-detailing and other selling operations

·         Medical education

·         Sample management activities

·         Other outsourced promotional services.

Other forecasts appear by therapeutic application:

·         Cardiovascular disease therapies

·         Metabolic disorder treatments

·         Cancer-treating medicines.

Pharma Contract Sales Industry and Market: Trends and Forecasts 2015-2025 also forecasts 11 national markets in the Americas, Europe and Asia to 2025. In addition it gives outlooks for established, rising and emerging service providers. Companies that study reviews include Quintiles, inVentiv Health, UDG Healthcare, Publicis Touchpoint Solutions and PDI. Also interviews with three companies – OnCall, Apodi and Hilver – appear.

Visiongain’s new investigation adds to its portfolio of analyses covering pharmaceutical outsourcing and other healthcare segments. Each year that business information publisher and consultancy in London, UK, expands its range of reports to help organisations understand technological and commercial potentials of industries.