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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.
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.
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.
Asia-Pacific had the highest growth rate of all regions
EPS is one of the major players operating in the Site Management Organization market, holding a share of 12.47% in 2020.
Among different product types, Trials of Drugs segment is anticipated to contribute the largest market share in 2027.
By application, the Tumor segment occupied the biggest share from 2017 to 2022.
The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Site Management Organization market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.
For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.
As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.
Research Scope
This report provides an overview of the global Site Management Organization market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Site Management Organization and its sub-markets in an intuitive way.
Key Companies in the global Site Management Organization market covered in Chapter 3:
Beijing Aisimo Medical Science and Technology Co., Ltd
AusTrials
Apex Medical Research
ERG Holding
Ethic Co.，Ltd
Novotech
ACTG-CRO
Tigermed
MPR Development Group
EPSI
MEDEX
FOMAT Medical Research
CMIC Group
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)
Key Factors Considered
COVID-19
Amid the COVID-19 crisis, the Site Management Organization market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.
Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.
Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.
Chapter Outline
Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.
Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.
Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.
Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.
Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.
Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.
Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.
Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.
Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.
Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.
2022
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.
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.
Asia-Pacific had the highest growth rate of all regions
EPS is one of the major players operating in the Site Management Organization market, holding a share of 12.47% in 2020.
Among different product types, Trials of Drugs segment is anticipated to contribute the largest market share in 2027.
By application, the Tumor segment occupied the biggest share from 2017 to 2022.
The report covers a research time span from 2018 to 2029; combines extensive quantitative analysis and exhaustive qualitative analysis; presents not only an overview of the global Site Management Organization market in metrics of sales, revenue, growth rate, but also a deeper dive into the segmented market by region, product type and downstream industry, showing the readers a clear and distinct picture of how the market is distributed from different perspectives.
For competitive landscape, prominent players with considerable market shares are comprehensively analyzed in this report. With information regarding the concentration ratio and detailed data reflecting the market performance of each player shared, the readers can acquire a holistic view of the competitive situation and a better understanding of their competitors.
As the COVID-19 takes over the world, we are continuously tracking the changes in the markets. We analyzed the impact of the pandemic in detail, along with other key factors, such as macro-economy, regional conflicts, industry related news and policies. Meanwhile, market investment scenario, technology status and developments, supply chain challenges, among other essential research elements are all covered.
Research Scope
This report provides an overview of the global Site Management Organization market and analyzes the segmented market by product type, downstream industry, and region, presenting data points such as sales, revenue, growth rate, explaining the current status and future trends of the Site Management Organization and its sub-markets in an intuitive way.
Key Companies in the global Site Management Organization market covered in Chapter 3:
Beijing Aisimo Medical Science and Technology Co., Ltd
AusTrials
Apex Medical Research
ERG Holding
Ethic Co.，Ltd
Novotech
ACTG-CRO
Tigermed
MPR Development Group
EPSI
MEDEX
FOMAT Medical Research
CMIC Group
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)
Key Factors Considered
COVID-19
Amid the COVID-19 crisis, the Site Management Organization market has definitely taken a hit. The report describes the market scenario during and post the pandemic in the vision of upstream raw materials, major market participants, downstream major customers, etc. Other aspects, such as changes in consumer behavior, demand, transport capacity, trade flow under COVID-19, have also been taken into consideration during the process of the research.
Regional Conflict / Russia-Ukraine War
The report also presents the impact of regional conflict on this market in an effort to aid the readers to understand how the market has been adversely influenced and how it’s going to evolve in the years to come.
Challenges & Opportunities
Factors that may help create opportunities and boost profits for market players, as well as challenges that may restrain or even pose a threat to the development of the players, are revealed in the report, which can shed a light on strategic decisions and implementation.
Chapter Outline
Chapter 1 starts the report with a brief overview of the research scope, as well as the definitions of the target market and the subdivisions.
Chapter 2 integrates and sketches the research findings and conclusions in a clear and explicit way.
Chapter 3 presents the competitive landscape by displaying the sales, revenue, and market shares of the top players. It also profiles the major market participants with their business introductions, sales, price, revenue, gross, growth rates, etc.
Chapter 4 breaks down the market by different product types and shares data correspondingly with the aim of helping the readers know how the market is distributed by type.
Chapter 5 segments the market by downstream industry, with data covers sales, revenue, and growth rate tracing back to 2018.
Chapter 6 is the analysis of the whole market industrial chain, ranging from upstream raw materials to downstream customers, with regional conflicts taken into consideration.
Chapter 7 elaborates on market dynamics. Factors that drive, challenge, or restrain the market are all listed, together with industry news, opportunities, impacts of COVID-19, and SWOT analysis.
Chapter 8 shows the breakdown data at the regional level, which enables the readers to picture the regional competitive pattern of the market and learn about the revenue, sales, and market share of all the major regions.
Chapter 9-13 focus on each and every of the major region, specifically, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. Sales, price, revenue, gross, gross margin, among others, will be all be presented.
Chapter 14 forecasts the future trend of the market not only as a whole but also from the perspective of all segments.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2029Frequently Asked Questions
This market study covers the global and regional market with an
in-depth analysis of the
overall growth prospects...
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by
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