eConsent In Healthcare Market Expected to Grow at a CAGR of 10.78% & Reach USD 996.61 Million to 2031 | InsightAce Latest Published Study

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Companies covered in this study are Veeva Systems; Wellbeing Software; a Citadel Group; Florence Healthcare; Concentric Health Ltd; 5thPort, LLC; Cloudbyz; Calysta EMR; Interlace Health; Thieme Compliance GmbH

Jersey City, NJ, Aug. 09, 2023 (GLOBE NEWSWIRE) — InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global eConsent In Healthcare Market Size, Share & Trends Analysis Report By Platform (Cloud-based, Web-based), By Enrollment Type (On-site, Remote), By Form Type (general consent, general consent with specific denial(s), general denial with specific consent(s) and general denial), Region, Market Outlook And Industry Analysis 2031″

The global eConsent in healthcare market is estimated to reach over USD 996.61 million by 2031, exhibiting a CAGR of 10.78% during the forecast period. 

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The readiness for eConsent implementation could have been improved by concerns regarding the physical infrastructure, particularly in certain public hospitals. Insufficient Wi-Fi coverage within hospital premises was identified as a significant obstacle and challenge in achieving infrastructure updates within the public health system. These factors collectively contributed to the perceived inadequacy of the physical infrastructure to effectively support the adoption of eConsent. Moreover, the eConsent market within the healthcare industry is projected to experience tremendous growth during the forecast period due to the increasing use of eConsent in clinical trials.

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This growth is supported by advancements in mobile technology, which have transformed the process of informed consent and enhanced patient understanding. The healthcare industry’s focus on streamlining processes and minimizing reconciliation further drives market expansion by integrating eConsent with other clinical solutions. Additionally, there has been a surge in strategic acquisitions and partnership deals. The global eConsent market also benefited from the COVID-19 pandemic, as regulatory flexibility facilitated the widespread adoption of eConsent worldwide.

Recent Developments:

  • In March 2021-The European Contract Research Organisation Federation (EUCROF) released a guide focusing on implementing electronic informed consent. This guide emphasizes that the existing eIDAS regulation, which governs electronic signatures, needs to provide specific instructions on utilizing eSignatures in the context of clinical studies.
  • In October 2020, Veeva Systems unveiled two new applications, Veeva Site Connect and Veeva eConsent, developed on the Veeva Clinical Network. Veeva Site Connect enables seamless digital communication and data exchange between clinical research sites and sponsors during a trial, eliminating the need for paper-based processes.

List of Prominent Players in the eConsent In Healthcare Market:

  • Advarra
  • Castor
  • Climedo Health GmbH
  • Сlinсapture
  • Clinical ink
  • EClinCloud (Shenzhen) Technology Co., Ltd
  • EvidentIQ Group GmbH
  • Eclipse
  • eClinicalHealth
  • Medrio
  • Medable Inc.
  • Magentus
  • Obvio Health USA, Inc.
  • Signant Health
  • Sitero
  • Suvoda LLC
  • IQVIA
  • Interlace Health
  • YonaLink
  • Y-Prime, LLC
  • THREAD
  • Veeva Systems
  • Wellbeing Software
  • Citadel Group
  • Florence Healthcare; Concentric Health Ltd
  • 5thPort, LLC
  • Cloudbyz
  • Calysta EM
  • Interlace Health
  • Thieme Compliance GmbH

Global eConsent In Healthcare Market Report Scope:

Report Attribute Specifications
Market size value in 2022 USD 402.15 Mn
Revenue forecast in 2031 USD 996.61 Mn
Growth rate CAGR CAGR of 10.78 % from 2023 to 2031
Quantitative units Representation of revenue in US$ Billion, and CAGR from 2023 to 2031
Historic Year 2019 to 2022
Forecast Year 2023-2031
Report coverage The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
Segments covered Platform, Enrollment, And Form
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country scope U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia


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Market Dynamics:

Drivers:

Electronic consent (eConsent) has become increasingly available, safe, and user-friendly thanks to ongoing improvements in mobile technology, cloud computing, and electronic signature capabilities. These technical advancements are influencing the healthcare sector’s adoption of eConsent. Adopting eConsent results in cost savings and a decrease in administrative work because there is no longer a need to print, store, and manage paper consent forms.

Additionally, eConsent speeds up the consent procedure, saving patients and healthcare providers time and fueling market expansion. In addition, establishing national guidelines will simplify designing, obtaining regulatory approval for, and implementing strategies to adopt eConsent.

Challenges:

The deployment and adoption of eConsent in the healthcare industry are also accompanied by some limitations or difficulties. To implement eConsent, a strong technical foundation is needed, including integrated electronic health record (EHR) systems, secure networks, and electronic signature capabilities.

The essential technological investments and knowledge needed for successful eConsent implementation may present difficulties for many healthcare institutions, especially smaller ones or those in resource-constrained situations. Ineffective processes, data silos, and a fragmented patient permission process might all be caused by a lack of interoperability, which could limit the market growth.

Regional Trends:

The North America eConsent In the Healthcare market is expected to register a major market share. The demand for digital solutions such as eConsent is on the rise due to several elements, including an increasing disease burden, rapid economic development, and the growing adoption of technology-based solutions like cloud and web-based platforms in clinical trials.

Furthermore, hospitals and research centers strongly emphasize research and clinical trials, creating a greater need for digital solutions like eConsent. Besides, Europe had a substantial share of the market. The adoption of eConsent solutions that guarantee patient data privacy and security has been affected by these requirements, which is what is causing the market to grow. The protection of personal data is emphasized by Europe’s strict data protection laws, such as the General Data Protection Regulation (GDPR).


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Segmentation of eConsent In Healthcare Market-
By Platform

  • Cloud-based
  • Web-based

By Enrollment Type

  • On-site
  • Remote 

By Form Type

  • General Consent
  • General Consent with Specific Denial(s)
  • General Denial with Specific Consent(s)
  • General Denial

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

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