The site management organizations (SMO) market is projected to grow at an annualized rate of ~10% during the period 2021-2035, claims Roots Analysis The rapidly growing clinical pipeline and challenges associated with the conduct of clinical trials in a cost and time effective manner, has presented lucrative opportunities for service providers with expertise in clinical trial site management 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 Site management organizations (SMO), the market opportunity for such players is projected to grow at a significant pace in the foreseen future. 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). ~USD 1 billion invested in various domain focused initiatives, since 2015 Maximum number of funding instances (21%) were reported in 2021, amounting to USD 614 million in capital investments. A significant number of funding instances (43%) were venture capital rounds, followed by instances of other equity (29%) and grants (7%). Till 2035, annual demand for clinical trial study participants is expected grow at a CAGR of 8.2% Currently, North America and Asia-Pacific hold the majority share of the overall demand for clinical trial study participants (60%). By 2035, the demand for patients in clinical trial studies is projected to reach 25 million. Further, currently, the highest demand is generated via phase III trials (43%), followed by phase IV studies (38%). North America and Europe are anticipated to capture close to 65% of the market share, by 2035 In addition, in Asia-Pacific the Site Management Organization Market Growth is likely to be at a relatively faster pace (9%) in the long term. Further, in 2035, the majority share (~45%) of clinical trial site management revenues is likely to be generated from trials focused on phase III evaluation of clinical studies. To request a sample copy / brochure of this report, please visit https://www.rootsanalysis.com/reports/site-management-organizations-market/request-sample.html For additional details, please visit https://www.rootsanalysis.com/reports/site-management-organizations-market.html or email sales@rootsanalysis.com You may also be interested in the following titles: 1. Patient Recruitment and Retention Services Market (2nd Edition): Industry Trends and Global Forecasts, 2021-2030 2. Pharmaceutical Contract Research Services Market: Industry Trends and Global Forecasts, 2021-2030 About Roots Analysis Roots Analysis is one of the fastest growing market research companies, sharing fresh and independent perspectives in the bio-pharmaceutical industry. The in-depth research, analysis and insights are driven by an experienced leadership team which has gained many years of significant experience in this sector. If you’d like help with your growing business needs, get in touch at info@rootsanalysis.com Contact Information Roots Analysis Private Limited Ben Johnson +1 (415) 800 3415 ben.johnson@rootsanalysis.com