Clinical Trials Site Management Organizations Market Size, Growth, Trends | Report 2023-2032
The global clinical trials site management organizations market size was estimated at around USD 5,912.45 million in 2022 and it is projected to hit around USD 10,698.69 million by 2032, growing at a CAGR of 6.11% from 2023 to 2032.
Key Pointers
Report Scope of the Clinical Trials Site Management Organizations Market
| Report Coverage | Details |
| Market Size in 2022 | USD 5,912.45 million |
| Revenue Forecast by 2032 | USD 10,698.69 million |
| Growth rate from 2023 to 2032 | CAGR of 6.11% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | Clinedge; WCG; ClinChoice; Access Clinical Research; FOMAT Medical Research INC.; SGS; KV Clinical; SMO-Pharmina; Xylem Clinical Research; Aurum Clinical Research |
The market has noticed critical growth on account of the rising R&D investments by pharmaceutical companies owing to the high burden of chronic and infectious diseases. Apart from this, the COVID-19 pandemic has contributed significantly to the demand for clinical trials; as of 12th April 2022, over 4,645 studies for COVID-19 were in the active stage. Such factors are promoting the market growth.
In recent years the number of clinical trials has increased tremendously. According to Clinical trials.gov, the total number of clinical trials accounted for 325,773 in 2020, whereas, as of April 2022, the number of clinical trials accounted for 410,903. The growth in clinical trial activities has profited the market for clinical trial site management organizations (SMOs). Complexities associated with clinical trials have improved the demand for CROs. A significant number of CROs offering clinical trial site management organizations solutions have further promoted market growth.
During the advent of the pandemic, clinical trials were halted to reduce the spread of the virus. However, owing to the urgent need for vaccines, diagnostics, and therapeutics, the clinical trials were resumed by following social distancing measures. Public organizations globally had made a high investment in R&D to support the clinical trials of COVID-19 vaccines and therapeutics. For instance, as of February 2022, the U.K., government has invested USD 119.1 million to support the development of the Oxford/AstraZeneca COVID-19 vaccine. This is expected to have a positive impact on the market for clinical trial site management organizations.
Clinical research sites have historically been a highly fragmented sector, consisting largely of part-time physician practices and small stand-alone companies. Consolidation has been occurring at an unprecedented rate, with sites coming together under common ownership or administration to operate as a single network. There are two business models in the clinical research industry for clinical trial sites - Free-standing research sites or dedicated research centers, and physician-affiliated clinical trial sites.
Private equity and other institutional investors are more involved in clinical trial sites. The investment thesis for private equity companies is the opportunity to consolidate operations in a highly fragmented industry, resulting in a predictable cash-flow business with economies of scale. Many companies are actively pursuing freestanding sites as part of a roll-up strategy. They prefer to acquire sites with a minimum revenue size, a track record of predictable positive EBITDA, and a diverse PI base, or, at the very least, an active PI who agrees to stay on for an extended period of time. Other institutionally funded companies are pursuing a physician-only model. These companies are exploring relationships with a large number of medical practices in order to scale. Large health systems are particularly appealing partners due to their size and reach, both in terms of PIs and patients.
Clinical Trials Site Management Organizations Market Segmentations:
| By Clinical Trial Services/ Components | By Phase | By Therapeutic Areas |
|
Site Management Project Management Regulatory Onsite Monitoring Others |
Phase I Phase II Phase III Phase IV |
Oncology Cardiology CNS Pain Management Endocrine Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Clinical Trial Services/ Components Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Clinical Trials Site Management Organizations Market
5.1. COVID-19 Landscape: Clinical Trials Site Management Organizations Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Clinical Trials Site Management Organizations Market, By Clinical Trial Services/ Components
8.1. Clinical Trials Site Management Organizations Market, by Clinical Trial Services/ Components, 2023-2032
8.1.1 Site Management
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Project Management
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Regulatory
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Onsite Monitoring
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Clinical Trials Site Management Organizations Market, By Phase
9.1. Clinical Trials Site Management Organizations Market, by Phase, 2023-2032
9.1.1. Phase I
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Phase II
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Phase III
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Phase IV
9.1.4.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Clinical Trials Site Management Organizations Market, By Therapeutic Areas
10.1. Clinical Trials Site Management Organizations Market, by Therapeutic Areas, 2023-2032
10.1.1. Oncology
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Cardiology
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. CNS
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Pain Management
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Endocrine
10.1.5.1. Market Revenue and Forecast (2020-2032)
10.1.6. Others
10.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Clinical Trials Site Management Organizations Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.1.2. Market Revenue and Forecast, by Phase (2020-2032)
11.1.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Phase (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Phase (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.2.2. Market Revenue and Forecast, by Phase (2020-2032)
11.2.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Phase (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Phase (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Phase (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Phase (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.3.2. Market Revenue and Forecast, by Phase (2020-2032)
11.3.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Phase (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Phase (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Phase (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Phase (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.4.2. Market Revenue and Forecast, by Phase (2020-2032)
11.4.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Phase (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Phase (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Phase (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Phase (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.5.2. Market Revenue and Forecast, by Phase (2020-2032)
11.5.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Phase (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Clinical Trial Services/ Components (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Phase (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Therapeutic Areas (2020-2032)
Chapter 12. Company Profiles
12.1. Clinedge
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. WCG
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. ClinChoice
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Access Clinical Research
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. FOMAT Medical Research INC.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. SGS
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. KV Clinical
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. SMO-Pharmina
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Xylem Clinical Research
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Aurum Clinical Research
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers