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The Site Management Organizations (SMO) : Competitive Landscape, Economic Growth, Revenue Analysis and Research, Key Highlights, by Forecast by 2031
Site Management Organizations (SMO)
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Clinical research conducted by medical institutions and clinical studies on pharmaceuticals and medical devices is supported by site management organizations. SMO has significant applications in various services, including the preparation of submissions to institutional review boards (IRBs), patient enrollment, the recruitment of study personnel, the management of clinical research site operations, and the resolution of site-specific study activities.
The potential advantages of a well-developed SMO include the cost-effective sharing of resources, the organization of highly qualified research professionals, the multi-skilled administrative and regulatory team, the rationalization of infrastructure, the standardization of operations, the maintenance of ongoing training, the centralized access to data of potential trial subjects, and the use of standard data logistics.
Rising demand for drug discoveries along with high prevalence of chronic diseases are key factors driving market revenue growth-
The market demand is also anticipated to be driven by the swiftly expanding pharmaceutical industries, the increasing number of clinical trials for novel drugs and therapies, and the growing preference for clinical trial outsourcing to CROs (contract research organizations). The COVID-19 pandemic has exacerbated the burden on healthcare systems worldwide. It has had a substantial effect on the market for site management organizations (SMOs). Furthermore, the expansion of contract research organizations in developing countries, which is a cost-effective alternative for drug and device research and development, including pre-discovery, CMS, preclinical research, clinical trials, post-marketing surveillance, and laboratory services, is anticipated to significantly contribute to the growth of this segment.
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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 October 2021, Parexel announced a strategic alliance with the objective of generating more opportunities for clinical research and establishing efficient and productive methods of supporting those studies. Parexel's partnership with Ki-CONNECT is concentrated on the development of clinical trials for cancer, intractable diseases, and regenerative therapies that utilize iPS cells, in addition to Phase I trials with healthy volunteers.
• In January 2021, CROMSOURCE announced the expansion of its Strategic Site Support Service. This service is available to sites that are part of clinical research studies managed by CROMSOURCE on behalf of companies in the pharmaceutical, biotechnology, and medical device industries, as well as to clients and sites directly. The addition of resources can also be the determining factor in the ability of sites to continue delivering clinical research projects through this expansion.
• In April 2020, CROMSOURCE initiated its inaugural COVID-19 trial on behalf of a European pharmaceutical company. It is anticipated that this trial will be conducted in Italy; however, CROMSOURCE has plans for additional studies in other European countries and the United States.
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The market for Site Management Organizations (SMO) is fragmented, with a presence of numerous participants in the local and international market, including those engaged in research and development.in both Europe and the United States
• Worldwide Clinical Trials
• Novotech
• ERG Holding
• Elligo Health Research
• CROMSOURCE
• CMIC
• Veristat
• Syneos Health
• TFS HealthScience
• Trialbee
• Tigermed
• Veeda Clinical Research
• Velocity Clinical Research
• Synexus Limited
• FOMAT Medical Research
• George Clinical
• Fidelis Research
• Ethic Co.Ltd
• ACTG-CRO
• CIDAL
• OneOncology
• Parexel
• Pharm-Olam
• Plexus Research
• Scandinavian CRO
• MEDEX
• Accelerated Enrollment Solutions (AES)
• WCCT Global
• Apex Medical Research
• ClinChoice Private Limited
• FOMAT Medical Research
• EPSI
• AusTrials
• Altasciences Company
• Beijing Aisimo Medical Science and Technology Co., Ltd
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Market Segments
Global Site Management Organizations (SMO) Market Based on Therapeutic
Areas Revenue
• Oncology
• CNS
• Cardiovascular
• Infectious Diseases
Global Site Management Organizations (SMO) Market Based on Trial Phases
• Phase I
• Phase II
• Phase III
• Phase IV
Global Site Management Organizations (SMO) Market Based on Clinical Trial Components Revenue
• Onsite Monitoring
• Project Management
• Site Management
• Other Clinical Trial Components
Global Site Management Organizations (SMO) Market Based on Occurrence Mode
• Surgical Procedure
• Therapeutics
• Devices
Global Site Management Organizations (SMO) Market Based on Region Revenue
Europe Revenue
• U.K.
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
North America Revenue
• U.S.
• Canada
Asia-Pacific Revenue
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America Revenue
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa Revenue
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis of key market insights in a timely and cost-effective manner.
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