Roots Analysis has announced the addition of “Site Management Organizations (SMO) Market, 2021 – 2035” report to its list of offerings
In recent years, drug / device developers have demonstrated a preference to continue relying on SMOs for conducting clinical trials in order to significantly optimize trial cost and research timelines. Driven by the steady growth in clinical research activity and inherent benefits offered by SMOs, the market opportunity for such players is projected to grow at a significant pace in the foreseen future.
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Key Market Insights
Around 250 companies across the world claim to offer clinical trial site management services
Majority (43%) of the industry stakeholders are headquartered in North America, followed by those based in Asia-Pacific (32%) and Europe (19%). In addition, 25% of the companies engaged in this domain offer site management services across the globe, followed by those providing services in Asia-Pacific (23%).
200+ partnerships were established in this domain, during the period 2016-2021
Service alliances (26%) and clinical trial agreements (23%) emerged as the most common types of partnership models adopted by stakeholders engaged in this domain. Nearly 65% of the deals in this domain were established after 2018, with the maximum activity being reported in 2021 (56).
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Key Questions Answered
- Who are the leading players engaged in the clinical trial site management domain?
- What is the relative competitiveness of different site management organizations?
- What type of partnership models are commonly adopted by stakeholders in this industry?
- What is the capital investments trend in the site management organizations domain?
- Which are the most active clinical trial centers?
- What are the major market trends and driving factors that are likely to impact the growth of site management organizations market?
- How is the current and future market opportunity likely to be distributed across key market segments?
The report also features inputs from eminent industry stakeholders, according to whom, complexities associated with clinical trial processes and increasing clinical pipeline will drive the growth of the third-party service providers, such as SMOs, engaged in this domain, in the coming future. The report includes detailed transcripts of discussions held with the following experts:
- Vinod Gyanchandani (Country Head – Clinical Operations, GDD Experts)
- Marisa Vico (Medical Director and Operations Manager, SMO – Dra. Marisa Vico)
- Eugene Winifred (Project Manager, Syncretic Clinical Research Services)
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