$37.6bn
$X.Xbn
183k
22,569
$XX.Xbn
Over the past five years, the patent cliff, an ongoing series of expiration dates for the patents on blockbuster drugs, has stimulated the volume of research and development (R&D) work outsourced by generic pharmaceutical and biotechnology companies, promoting growth for consultants. The outbreak of COVID-19 led to growth for consultants as pharmaceutical manufacturers ramped up R&D expenditures to develop new drugs and looked to consultants to sure up their operations. Industry-wide revenue has been climbing at a CAGR of 1.0% over the past five years and is expected to total $37.6 billion in 2023, when revenue will jump by an estimated 4.1%. Merger and acquisition activity by pharmaceutical manufacturers over the current period has led many manufacturers to consultants to ensure these activities go smoothly and are beneficial. The growing complexity of the pharmaceutical process has incentivized companies to outsource to consultants but created a need for skilled employees that command higher average wages, hindering consultants' profit. Through the end of 2028, consultants will continue to enjoy growth. To cut down on cost-generating operations, downstream companies will increasingly rely more on outsourcing and technologies within their operations as they face headwinds. The changing regulatory environment for developing drugs will continue to spur growth in consultants' services from pharmaceutical manufacturers. Industry revenue is forecast to grow at a CAGR of 2.1% through the end of 2028 to total $41.7 billion.
Industry revenue has grown at a CAGR of 1.0 % over the past five years, to reach an estimated $37.6bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Iqvia Holdings Inc. | 1,293.3 | 88.6 | 6.9 | |
Deloitte Touche Tohmatsu | 706.1 | 85.9 | 12.2 |
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Industry revenue is measured across several distinct product and services lines, including Business strategy and planning consulting services, Marketing strategy and market development services and Technical. Business strategy and planning consulting services is the largest segment of the Pharmaceutical Contract Management Consulting in the US.
Consultants have enjoyed growth from business strategy and planning consulting services
This industry provides consulting to pharmaceutical companies, which includes the assessment of cost structures and client contracting processes. Firms ensure compliance and track performance. This can include the development and implementation of software for these purposes.
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NAICS 54161 - Pharmaceutical Contract Management Consulting in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Consultants have enjoyed growth. Merger and acquisition activity, expiring patents and the increased complexity of developing drugs have led pharmaceutical manufacturers to i...
Learn about an industry's products and services, markets and trends in international trade.
Consultants have enjoyed growth from brand-name pharmaceutical manufacturers. An increasing number of new drug launches in recent years has increased brand-name pharmaceutica...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Consultants tend to establish near downstream markets. Consultants establish near hospitals, pharmacies and other local companies to secure favorable contracts and reduce ope...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Internal competition is high among consultants. Pharmaceutical contract management consultants compete based on the skills, expertise and flexibility they can provide clients...
Learn about the performance of the top companies in the industry.
No company has amassed more than 5.0% of the market. The multitude of pharmaceutical contract management consultants and their services makes accumulating a considerable mark...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Pharmaceutical contract management consultants enjoy light regulations. While management consultants enjoy light regulations, they must be aware of various regulations relati...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Increased wage costs have hindered profit growth. Pharmaceutical contract management consultants’ profit has dipped as regulatory hurdles have increased competition for skill...
Including values and annual change:
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The market size of the Pharmaceutical Contract Management Consulting in the US industry in United States is $37.6bn in 2024.
There are 22,569 businesses in the Pharmaceutical Contract Management Consulting in the US industry in United States, which has grown at a CAGR of 4.3 % between 2018 and 2023.
The market size of the Pharmaceutical Contract Management Consulting in the US industry in United States has been growing at a CAGR of 1.0 % between 2018 and 2023.
Over the next five years, the Pharmaceutical Contract Management Consulting in the US industry in United States is expected to grow.
The biggest companies operating in the Pharmaceutical Contract Management Consulting market in United States are Iqvia Holdings Inc. and Deloitte Touche Tohmatsu
Software development and sales and Contract analysis services are part of the Pharmaceutical Contract Management Consulting in the US industry.
The company holding the most market share in United States is Iqvia Holdings Inc..
The level of competition is high and increasing in the Pharmaceutical Contract Management Consulting in the US industry in United States.