DUBLIN–(BUSINESS WIRE)–The “Site Management Organizations Market by Therapeutic Areas, Trial Phases, Clinical Trial Components, Type of Interventions and Key Geographies: Industry Trends and Global Forecasts, 2021-2035” report has been added to ResearchAndMarkets.com’s offering.
This report features an extensive study of the current market landscape and future potential of the site management organizations market. The study features an in-depth analysis, highlighting the capabilities of clinical trial site management service providers engaged in this domain.
Clinical trials form an integral part of the overall drug development process, enabling the necessary evaluation of the safety and efficacy of a drug candidate. Studies suggest that around 40% of the total investment made for the development of drug candidate is dedicated to clinical trials; this is equivalent to an expenditure of USD 78 billion annually. However, the conduct of such trials is often fraught with challenges, including scientific and operational complexity, concerns associated with recruitment and retention of suitable patients, issues related to data handling and increasingly stringent regulatory guidelines.
Further, owing to the inherent complexity of the overall process and involvement of several different stakeholders, these trials are prone to delays. In fact, over 80% of the clinical trials are delayed by at least one to six months, while only 10% of the studies are completed on time. Therefore, innovators in the pharmaceutical industry are constantly developing ways to improve the process of conducting clinical trials and managing research sites.
Amidst other alternatives, outsourcing various trial operations to a specialized service provider, such as site management organizations (SMOs), has emerged as a viable option for various developers. The advantages of engaging such specialized service providers are numerous and enable sponsors to meet their clinical research timelines. In addition, SMOs can facilitate rapid patient recruitment, reduce study timelines, and manage the entire clinical trial processes and administrative work for their clients. Moreover, drug/medical device developers, and even the contract research organizations (CROs), can employ the therapeutic and operational expertise, global site networks and well-established processes and tools offered by SMOs in order to carry out their clinical research and site management activities in a cost and time efficient manner.
Currently, around 250 companies claim to be actively providing clinical site management services to drug and medical device developers across the world. Recently, there has been a lot of activity within the site management market, primarily focused on consolidation of affiliated capabilities, service portfolio expansions and collaborations to extend geographical reach. The aforementioned developments may be attributed to the growing preference for one-stop-shops among sponsor companies, and the gradual acceptance of outsourcing as a viable and beneficial operating model for conducting clinical trials and managing research sites. With the growing complexity, as well as rise in the number of clinical trials being registered, the demand for SMOs is anticipated to grow at a steady pace in the coming years.
Key Questions Answered
- Who are the leading players 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 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?
Companies Mentioned
- 23andMe
- 3H Medi Solution
- 3S Pharma
- Accel Clinical Services
- Accell Clinical Research
- Accelovance
- accerise
- Access Clinical Research
- Ace Research
- ACI Clinical
- Acrostar SMO
- ACTG-CRO
- Advanced Clinical
- Aetion
- Affiliated Clinical Research
- AiCure
- Alpha Oncology Research (AOR)
- Altasciences
- Amadeus Capital Partners
- AmberCRO
- American Liver Foundation
- American Research Associates (ARA)
- AmerisourceBergen
- Analgesic Solutions
- Andronovo Labs
- Anteris Bio
- Antev
- Antidote
- AOBiome Therapeutics
- Apex Medical Research
- APF Research
- ApotheCom
- Apptomics
- Aptitude Health
- Ardent Clinical Research Services
- Asian Eye Institute
- Associated Medical
- Association of Clinical Research Professionals (ACRP)
- AstraZeneca
- Atlant Clinical
- Aurum Clinical Research
- AusTrials
- AutoCruitment
- Avacare
- AXELLE Group
- AXIM Biotechnologies
- BBK Worldwide
- Beijing Aisimo Medical Science and Technology
- Beijing CTSMED
- Beijing EasyTrial MedTech
- Beijing Global Pharmaceutical Research (Acquired by EPS International)
- Beijing Illness Challenge Foundation (ICF)
- Best Clinical Practice
- Bioclinica
- Biomapas
- Biomedical Advanced Research and Development Authority (BARDA)
- Biomic Lifescience
- Biosite Research
- Box
- BrainStorm Cell Therapeutics
- Briban Invest
- Bridge Clinical Research
- BTC Network
- Cactus Clinical Research
- Calmark
- Canadian Centre for Clinical Trials (CCCT)
- Cardialysis
- CaringKind
- Caris Life Sciences
- Carpathian Research
- And Many More Companies!
For more information about this report visit https://www.researchandmarkets.com/r/w82u1z
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