Global Clinical Trial Site Management Organizations (SMO) Market Report (2024–2030): Trends, Growth, and Competitive Analysis
The global clinical trials site management organizations market size is expected to reach USD 9.47 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.17% from 2024 to 2030. Site management organizations (SMOs) are essential elements of pharmaceutical and biopharmaceutical companies. Such organizations help to limit the burden associated with clinical research. SMOs offer several services including patient enrollment services, addressing clinical trial location-specific study activities, hiring study staff, and monitoring clinical studies site operations. Improved technological use in integrated site networks and clinical trial services, increasing trend of outsourced clinical services, and growing clinical trial activities globally owing to the high burden of chronic and infectious diseases, are few of the factors driving the market. Technology has improved efficiencies at the site level by...