Global Site Management Organization Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Site Management Organization Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Site Management Organization (SMO) is an organization that provides clinical trial related services to a contract research organization (CRO), a pharmaceutical company, a biotechnology company, a medical device company or a clinical site.

Market Overview:

The latest research study on the global Site Management Organization market finds that the global Site Management Organization market reached a value of USD 2260.18 million in 2022. It’s expected that the market will achieve USD 7863.09 million by 2028, exhibiting a CAGR of 23.1% during the forecast period.

Influence of COVID-19 Outbreak on Site Management Organization Industry Development

Covid-19 pandemic is changing the economy, the working style of residents and the health system. People are getting health information in new ways, and their trust has changed. Many people are willing to participate in clinical trials or share their personal data to help discover new treatments or provide care. Enterprises can play a greater role in protecting employees' health, and the health system can provide more space for telemedicine and other forms of virtual nursing, in which consumers can play a more active role in managing health and participating in the system being rebuilt. Under the influence of the epidemic, people pay more and more attention to health problems, and the country pays more and more attention to medical and health care, which promotes the research of life sciences. Life science research needs clinical trials, so it is necessary to organize the related services of clinical trials. The increase of life science research promotes the industry's demand for site management organization, thus promoting the development of site management organization industry.

Novel coronavirus is contagious, so the number of patients is growing rapidly. As of October 1, 2020, the number of coronavirus cases in the world has reached 34,154,636, and the death toll has reached 1,018,769. Under the influence of COVID-19 epidemic, the number of patients in hospitals and other medical institutions has increased rapidly, and the demand for medical services has also increased rapidly. The epidemic has had a great impact on the global economy and human health, so governments in various countries are speeding up the research and development of novel coronavirus vaccine, which needs clinical trials and then distributed to medical institutions for use. Therefore, affected by the epidemic, the demand for site management organizations is increasing, thus promoting the continuous development of the site management organization industry.

Market Driving Factors of Site Management Organization

Driven by the increasingly strict healthcare agenda, the operating environment of pharmaceutical and life science companies is increasingly challenging. The global demand for innovative and cost-effective drugs continues to grow, while regulators, payers, health care providers and patients demand higher cost performance, reliable product efficacy, higher transparency and access to information. To meet these needs, the company is looking for ways to improve R&D productivity, improve operational efficiency, arrange sales and marketing expenses reasonably and improve financial performance.
The increasing demand for people's life and health requires enterprises to develop more new drugs and medical equipment. In order to carry out more effective drug development and experimental research, the demand for site management organizations is increasing, thus promoting the continuous development of the site organization industry.

The cost of single clinical trial is very high, so the cost of developing new drugs is also increasing. With the rising cost of drug development, people at all stages of the process are looking for ways to cut expenses. The cost of clinical trials can be reduced by speeding up the process of evaluating and selecting clinical trial sites. Pharmaceutical companies and site management organizations don't have all the information needed to select sites correctly, so they may not recruit any patients in the end, and the trial time may be twice as long as estimated. Therefore, improving the site selection will reduce the cost of clinical trials. When preparing for clinical trials, companies can choose test sites with good performance records in some trials, which can improve the possibility of successful trials and reduce the problem of patient recruitment. Contact with patients, better performance in similar trials in specific disease areas, and the qualifications of field personnel will be key factors in the site selection process. Enterprises should make changes in site selection, so as to reduce enterprise costs and promote the development of site management organization industry.

Region Overview:

Asia-Pacific had the highest growth rate of all regions

Company Overview:

EPS is one of the major players operating in the Site Management Organization market, holding a share of 12.47% in 2020.

Segmentation Overview:

Among different product types, Trials of Drugs segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Tumor segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Site Management Organization market covered in Chapter 3:

ACTG-CRO
MEDEX
CMIC Group
Beijing Aisimo Medical Science and Technology Co., Ltd
Ethic Co.，Ltd
MPR Development Group
Novotech
Apex Medical Research
Tigermed
AusTrials
EPSI
ERG Holding
FOMAT Medical Research

In Chapter 4 and Chapter 14.2, on the basis of types, the Site Management Organization market from 2018 to 2029 is primarily split into:

Trials of Drugs
Trials of Devices
Trials of Procedures
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Site Management Organization market from 2018 to 2029 covers:

Tumor
Cardiovascular System
Endocrine
Respiration
Anti-infection
Mental State
Gastrointestinal tract
Skin related
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)