Global Site Management Organizations (SMO) Market

Report ID : 1191 | Published : 2021-11-10 | Pages: | Format:

Site management organizations (SMO) are essential elements of biopharmaceutical companies. Such organizations help to solve the issues related to clinical trials. SMO offers 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. It is estimated that the global site management organizations (SMO) market is valued at US$  1,106.2 million in 2021, and it is expected to reach US$  2,986.0 million by 2030 with a CAGR of 11.7% during a forecast period of 2021-2030.

The driving factors of the site management organizations market include increasing demand for drug discoveries, high prevalence of chronic diseases, a growing number of clinical trials for novel drugs & therapies, surging pharmaceutical industries, and rising preference for clinical trial outsourcing to the CROs (contract research organizations). With the growing drug development processes, the number of clinical trials and complexities in the clinical trial phases also increases, boosting the demand for SMOs in the coming years. However, intense competition among the market players is a big challenge to this market.

The site management organizations market is segmented into therapeutic areas, trial phases, clinical trial components, interventions types, and regions. The market is classified into oncology, central nervous system (CNS), cardiovascular, and infectious diseases in terms of therapeutic areas. The oncology segment would be the fastest-growing segment of this market in the upcoming years, owing to the increasing cancer cases and the growing elderly population. The trial phases segment is grouped into four phases: phase I, phase II, phase III, and IV. Based on clinical trial components, the market is divided into site management, onsite monitoring, project management, and other clinical trial components. The site management segment dominated this market in 2020 due to the increasing trend of clinical trial outsourcing. By interventions types, the market comprises therapeutics, devices, and surgical procedures. Regionally, the market is analysed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America region is expected to account for the highest share of this market over the forecast years, followed by Europe, which is attributed to the rising investments in drug development and well-established healthcare systems & biopharma companies in this region.

Few market players operating in the site management organizations market are 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.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Site Management Organizations Market Snapshot

Chapter 4. Global Site Management Organizations Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Industry Analysis – Porter’s Five Forces Analysis

4.6. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: By Route of Administration, Estimates & Trend Analysis

5.1. By Therapeutic Areas, & Market Share, 2020 & 2030

5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Therapeutic Areas:

5.2.1. Oncology

5.2.2. CNS

5.2.3. Cardiovascular

5.2.4. Infectious Diseases

5.2.5. Other Therapeutic Area

Chapter 6. Market Segmentation 2: By Molecule Estimates & Trend Analysis

6.1. By Trial Phases & Market Share, 2020 & 2030

6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Trial Phases:

6.2.1. Phase I

6.2.2. Phase II

6.2.3. Phase III

6.2.4. Phase IV

Chapter 7. Market Segmentation 3: By Therapy Estimates & Trend Analysis

7.1. By Clinical Trial Components & Market Share, 2020& 2030

7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Clinical Trial Components:

7.2.1. Site Management

7.2.2. Onsite Monitoring

7.2.3. Project Management

7.2.4. Other Clinical Trial Components

Chapter 8. Market Segmentation 4: By Interventions Types Estimates & Trend Analysis

8.1. By Interventions Types & Market Share, 2020& 2030

8.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 for the following By Interventions Types

8.2.1. Therapeutics

8.2.2. Devices

8.2.3. Surgical Procedure

Chapter 9. Site Management Organizations Market Segmentation 5: Regional Estimates & Trend Analysis

9.1. North America

9.1.1. North America Site Management Organizations Market revenue (US$ Million) estimates and forecasts By Therapeutic Areas, 2019-2030

9.1.2. North America Site Management Organizations Market revenue (US$ Million) estimates and forecasts By Trial Phases, 2019-2030

9.1.3. North America Site Management Organizations Market revenue (US$ Million) estimates and forecasts By Clinical Trial Components, 2019-2030

9.1.4. North America Site Management Organizations Market revenue (US$ Million) estimates and forecasts by Interventions Types, 2019-2030

9.1.5. North America Site Management Organizations Market revenue (US$ Million) estimates and forecasts by country, 2019-2030

9.2. Europe

9.2.1. Europe Site Management Organizations Market revenue (US$ Million) By Therapeutic Areas, 2019-2030

9.2.2. Europe Site Management Organizations Market revenue (US$ Million) By Trial Phases, 2019-2030

9.2.3. Europe Site Management Organizations Market revenue (US$ Million) By Clinical Trial Components, 2019-2030

9.2.4. Europe Site Management Organizations Market revenue (US$ Million) estimates and forecasts by Interventions Types, 2019-2030

9.2.5. Europe Site Management Organizations Market revenue (US$ Million) by country, 2019-2030

9.3. Asia Pacific

9.3.1. Asia Pacific Site Management Organizations Market revenue (US$ Million) By Therapeutic Areas, 2019-2030

9.3.2. Asia Pacific Site Management Organizations Market revenue (US$ Million) By Trial Phases, 2019-2030

9.3.3. Asia Pacific Site Management Organizations Market revenue (US$ Million) By Clinical Trial Components, 2019-2030

9.3.4. Asia Pacific Site Management Organizations Market revenue (US$ Million) estimates and forecasts by Interventions Types, 2019-2030

9.3.5. Asia Pacific Site Management Organizations Market revenue (US$ Million) by country, 2019-2030

9.4. Latin America

9.4.1. Latin America Site Management Organizations Market revenue (US$ Million) By Therapeutic Areas, (US$ Million) 2019-2030

9.4.2. Latin America Site Management Organizations Market revenue (US$ Million) By Trial Phases, (US$ Million) 2019-2030

9.4.3. Latin America Site Management Organizations Market revenue (US$ Million) By Clinical Trial Components, (US$ Million) 2019-2030

9.4.4. Latin America Site Management Organizations Market revenue (US$ Million) estimates and forecasts by Interventions Types, 2019-2030

9.4.5. Latin America Site Management Organizations Market revenue (US$ Million) by country, 2019-2030

9.5. Middle East & Africa

9.5.1. Middle East & Africa Site Management Organizations Market revenue (US$ Million) By Therapeutic Areas, (US$ Million) 2019-2030

9.5.2. Middle East & Africa Site Management Organizations Market revenue (US$ Million) By Trial Phases, (US$ Million) 2019-2030

9.5.3. Middle East & Africa Site Management Organizations Market revenue (US$ Million) By Clinical Trial Components, (US$ Million) 2019-2030

9.5.4. Middle East & Africa Site Management Organizations Market revenue (US$ Million) estimates and forecasts by Interventions Types, 2019-2030

9.5.5. Middle East & Africa Site Management Organizations Market revenue (US$ Million) by country, 2019-2030

Chapter 10. Competitive Landscape

10.1. Major Mergers and Acquisitions/Strategic Alliances

10.2. Company Profiles

10.2.1. CROMSOURCE

10.2.2. CMIC

10.2.3. FOMAT Medical Research

10.2.4. George Clinical

10.2.5. Fidelis Research

10.2.6. Parexel

10.2.7. Pharm-Olam

10.2.8. Plexus Research

10.2.9. Scandinavian CRO

10.2.10. Veristat

10.2.11. Syneos Health

10.2.12. TFS HealthScience

10.2.13. Trialbee

10.2.14. Tigermed

10.2.15. Veeda Clinical Research

10.2.16. Velocity Clinical Research

10.2.17. Synexus Limited

10.2.18. Accelerated Enrollment Solutions (AES)

10.2.19. WCCT Global

10.2.20. Worldwide Clinical Trials

10.2.21. Novotech

10.2.22. ERG Holding

10.2.23. Elligo Health Research

10.2.24. Apex Medical Research

10.2.25. ClinChoice Private Limited

10.2.26. FOMAT Medical Research

10.2.27. EPSI

10.2.28. AusTrials

10.2.29. Altasciences Company

10.2.30. Beijing Aisimo Medical Science and Technology Co., Ltd

10.2.31. MEDEX

10.2.32. Ethic Co.Ltd

10.2.33. ACTG-CRO

10.2.34. CIDAL

10.2.35. OneOncology

10.2.36. MPR Development Group

10.2.37. Other Prominent Players

Global Site Management Organizations Market, by Therapeutic Areas, 2020-2030 (Value US$ Mn)

  • Oncology
  • CNS
  • Cardiovascular
  • Infectious Diseases

Global Site Management Organizations Market, by Trial Phases, 2020-2030 (Value US$ Mn)

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

Global Site Management Organizations Market, by Clinical Trial Components, 2020-2030 (Value US$ Mn)

  • Site Management
  • Onsite Monitoring
  • Project Management
  • Other Clinical Trial Components

Global Site Management Organizations Market, by Interventions Types, 2020-2030 (Value US$ Mn)

  • Therapeutics
  • Devices
  • Surgical Procedure

Global Site Management Organizations Market, by Region, 2020-2030 (Value US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

North America Site Management Organizations Market, by Country, 2020-2030 (Value US$ Mn)

  • U.S.
  • Canada

Europe Site Management Organizations Market, by Country, 2020-2030 (Value US$ Mn)

  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe

Asia Pacific Site Management Organizations Market, by Country, 2020-2030 (Value US$ Mn)

  • India
  • China
  • Japan
  • South Korea
  • Australia & New Zealand

Latin America Site Management Organizations Market, by Country, 2020-2030 (Value US$ Mn)

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa Site Management Organizations Market, by Country, 2020-2030 (Value US$ Mn)

  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Competitive Landscape

  • Company Overview
  • Financial Performance
  • Key Development

Latest Strategic Developments

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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