Pharmaceutical Contract Sales Organizations (CSO)

The Global Contract Sales Outsourcing Market will Witness a Double-Digit Growth Rate to Reach $9.2 Billion in 2016
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Aug. 19, 2010 - PRLog -- GBI Research estimates the global contract sales outsourcing market was worth $3.7 billion in 2009 and expects it to witness a healthy double-digit growth rate of 13.9% to reach $9.2 billion in 2016. The increasing pressure on pharmaceutical companies to improve their sales efficiency coupled with CSOs increasing and improving their service offering will provide a significant boost to the growth of the global contract sales outsourcing industry. As CSOs expand their service portfolio to provide a wide range of sales outsourcing services, pharmaceutical companies are able to concentrate better on their core competencies. In the future, the role of CSOs is expected to change from service providers to partners, providing strategic sales solutions to improve the sales force efficiency and effectiveness of the pharmaceutical companies.

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Thus, with such a complex set of requirements, cost is no longer the sole determinant for CSO selection. Clients are moving towards CSOs that are able to provide a wide range of service capabilities with excellent quality standards to maximize the returns and effectiveness of the sales force. In addition to pricing, criteria such as service portfolio, experience, agility, resources and reputation are also becoming key criteria on which pharmaceutical companies select CSOs. In the future, CSOs, who will be able to demonstrate strong capabilities in all these criteria, will stand the best chance to receive the contract from pharmaceutical companies.

GBI Research, the leading business intelligence provider, has released its latest report, “Pharmaceutical Contract Sales Organizations (CSO) - Emerging Markets to Drive Growth but Talent Acquisition in Specialty Secondary Care Remains a Challenge” that provides key data, information and analysis of the major trends and issues affecting the global contract sales organizations. The report provides a comprehensive insight into the difference between pharma sales and contract sales models. It also provides an insight into the key services that form part of contract sales organizations’ service provisions. The report also provides a detailed analysis of the contract sales outsourcing market characterization in terms of its market size, key reasons for outsourcing sales to contract sales organizations and the key market drivers and barriers. The report also talks about the key regulations that affect contract sales organizations. The report also looks into the competitive landscape of the market and profiles key market players along with brief business description, key service offerings and major deals with the pharmaceutical companies. The report also provides detailed analysis of major deals that have happened in the contract sales outsourcing domain. At the end, the report looks into the major opportunities and challenges that can play a major role in shaping the future of contract sales organizations.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in house analysis by GBI Research’s team of industry experts.

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Source:Rajesh Gunnam
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