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Global Site Management Organizations Market Size, Share and Trends Analysis to 2030
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Site management organizations support for clinical studies on drugs and medical devices and clinical research conducted by medical institutions. SMO finds major applications in various services such as preparing submissions to institutional review boards (IRBs), patient enrollment, hiring study staff, addressing site-specific study activities, and managing clinical research site operations
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The well-developed SMO has a potential advantage including cost-effective way of sharing resources, organised highly qualified research professionals, multi-skilled administrative and regulatory team, rationalized infrastructure, standardized operations, maintain ongoing training, centralized access to data of potential trial subjects, and common data logistics.
Rising demand for drug discoveries along with high prevalence of chronic diseases are key factors driving market revenue growth
Increasing growing number of clinical trials for novel drugs & therapies, rapidly growing pharmaceutical industries, and rising preference for clinical trial outsourcing to the CROs (contract research organizations) is further expected to drive the market demand. At present times, The COVID-19 pandemic has increased the burden on healthcare systems across the globe. It has significantly impacted the site management organization (SMO) market. In addition to this, Expansion of contract research organizations in developing countries, owing to cost effective option for drug & devices research and development, i.e., pre-discovery, CMS, preclinical research, clinical trials, post-marketing surveillance, and laboratory services is a major factor expected to drive growth of this segment.
Some Key Highlights in the Report
Strategic partnership between companies has enabled to share scientific, therapeutic, regulatory, and operational expertise, creating a high-quality, highly scalable clinical development capability for variety of study areas
In Oct 2021, Parexel announced a strategic alliance aimed at providing more opportunities for clinical research and producing efficient and productive ways of supporting clinical studies. Parexel's collaboration with Ki-CONNECT focuses on clinical trials for cancer, intractable diseases and regenerative therapies using iPS cells in addition to Phase I trials with healthy volunteers
In Jan 2021, CROMSOURCE announced the expansion of its Strategic Site Support Service that can be provided to sites participating in clinical research studies managed by CROMSOURCE on behalf of companies in the pharmaceutical, biotechnology, and medical device industries, or to clients and sites directly. Through this expansion, addition of resources can also be the difference between sites being able to continue to deliver clinical research projects
In April 2020, CROMSOURCE has initiated its first COVID-19 trial on behalf of a European pharmaceutical company. This trial is expected to be performed in Italy, though additional studies are planned by CROMSOURCE for other countries in Europe as well as the United States
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The Site Management Organizations (SMO) market is fragmented with presence of many players that operates in research and development, Site Management Organizations (SMO) producers in local as well as international market.
Global Site Management Organizations (SMO) market reports cover prominent players such as CROMSOURCE (Italy), CMIC Group (Canada), FOMAT Medical Research (U.S.), George Clinical (Australia), Fidelis Research (Bulgaria), Parexel (U.S.), Pharm-Olam (U.S.), Scandinavian CRO (Sweden), Veristat (U.S.), TFS HealthScience (Sweden), Trialbee (Sweden), Tigermed (China), Veeda Clinical Research (Ahmedabad), WCCT Global (U.S.), Worldwide Clinical Trials (U.S.), Novotech, ERG Holding, Elligo Health Research, Apex Medical Research, ClinChoice Private Limited, FOMAT Medical Research, EPSI, AusTrials, Altasciences Company, Beijing Aisimo Medical Science and Technology Co., Ltd, MEDEX, Ethic Co.Ltd, ACTG-CRO, CIDAL OneOncology, MPR Development Group and Others and Other Prominent Players.
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Market Segments
Global Site Management Organizations (SMO) Market Based on Therapeutic Areas Revenue (US$ Mn) Forecast 2019-2030
oOncology
oCNS
oCardiovascular
oInfectious Diseases
Global Site Management Organizations (SMO) Market Based on Trial Phases (US$ Mn) Forecast 2019-2030
oPhase I
oPhase II
oPhase III
oPhase IV
Global Site Management Organizations (SMO) Market Based on Clinical Trial Components Revenue (US$ Mn) Forecast 2019-2030
oSite Management
oOnsite Monitoring
oProject Management
oOther Clinical Trial Components
Global Site Management Organizations (SMO) Market Based on Occurrence Mode (US$ Mn) Forecast 2019-2030
oTherapeutics
oDevices
Surgical Procedure
Global Site Management Organizations (SMO) Market Based on Region Revenue (US$ Mn) Forecast 2019-2030
Europe Revenue (US$ Mn) Forecast 2019-2030
oU.K.
oGermany
oFrance
oItaly
oSpain
oRussia
oRest of Europe
North America Revenue (US$ Mn) Forecast 2019-2030
oU.S.
oCanada
Asia Pacific Revenue (US$ Mn) Forecast 2019-2030
Latin America Revenue (US$ Mn) Forecast 2019-2030
Middle East & Africa Revenue (US$ Mn) Forecast 2019-2030
Why should buy this report:
To receive a comprehensive analysis of the prospects for global Site Management Organizations (SMO) market
To receive industry overview and future trends Site Management Organizations (SMO) market
To analyse the Site Management Organizations (SMO) market drivers and challenges
To get information on Site Management Organizations (SMO) market size value/revenue (US$ Mn) forecast till 2030
Major Investments, Mergers & Acquisition in Site Management Organizations (SMO) industry
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