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The Site Management Organizations (SMO) Market is expected to grow at an 8.00 % CAGR during the forecast period for 2023-2031.
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.
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.
Market Segmentation
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.
Competitive Landscape
Some of The Key Players in The Site Management Organizations (SMO) Market:
- CROMSOURCE
- CMIC
- FOMAT Medical Research
- George Clinical
- Fidelis Research
- Parexel
- Pharm-Olam
- Plexus Research
- Scandinavian CRO
- Veristat
- Syneos Health
- TFS HealthScience
- Trialbee
- Tigermed
- Veeda Clinical Research
- Velocity Clinical Research
- Synexus Limited
- Accelerated Enrollment Solutions (AES)
- WCCT Global
- Worldwide Clinical Trials
- 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
- Other Prominent Players
The Site Management Organizations (SMO) Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 8.00 % from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Therapeutic Areas, By Trial Phases, By Clinical Trial Components, By Interventions Types |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
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Competitive Landscape |
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 |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
