PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401770
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401770
Econsent in Healthcare Market size was valued at USD 418.5 Million in 2022, expanding at a CAGR of 10.5% from 2023 to 2030.
E-consent, also known as electronic consent, is a contemporary method used in healthcare to obtain and manage informed consent from patients for various healthcare interventions, treatments, or research activities. With the increasing integration of information technology and management in healthcare, there is a growing interest in E-consent systems. These systems play a vital role in ensuring that patients are well-informed about the potential outcomes of clinical interventions and the utilization of their personal health information. Moreover, they empower patients to document consent conditions and establish an audit trail. E-consent leverages digital platforms such as electronic health record (EHR) systems, patient portals, or dedicated consent management tools to streamline the consent process. By implementing E-consent in healthcare, providers can enhance the efficiency and user-friendliness of consent procedures, ultimately resulting in improved patient satisfaction and a better comprehension of their healthcare options.
Econsent in Healthcare Market- Market Dynamics
Increasing adoption of electronic health records (EHRs) and health information exchange systems are projected to drive the growth of the market.
The integration of EHRs has streamlined various healthcare workflows, and econsent complements this trend by digitizing and automating the consent process. This not only enhances efficiency but also reduces administrative burden, providing a more seamless experience for healthcare providers and patients alike. According to the National Center for Health Statistics, as of 2021, approximately 78% of office-based physicians and 96% of non-federal acute care hospitals have adopted a certified EHR. Moreover, the emergence of telehealth and the ability to obtain remote consent present new opportunities for expanding healthcare services beyond traditional settings. However, the lack of standardization and interoperability among different healthcare systems and econsent solutions can pose challenges for the market.
Econsent in Healthcare Market- Key Insights
As per the analysis shared by our research analyst, the global Econsent in Healthcare market is estimated to grow annually at a CAGR of around 10.5% over the forecast period (2023-2030)
Based on Platform segmentation, Cloud-based was predicted to show maximum market share in the year 2022
Based on Enrollment Type segmentation, On-site was the leading type in 2022
Based on Form Type segmentation, General Consent was the leading type in 2022
Based on region, North America was the leading revenue generator in 2022
The Global Econsent in Healthcare Market is segmented based on Platform, Enrollment Type, Form Type, and Region.
The market is divided into Two categories based on Platform: Cloud-based and Web-based. The market is primarily dominated by the cloud-based segment. Cloud-based eConsent solutions empower Healthcare providers to provide patients with access to consent forms from any location with an internet connection. This significantly improves convenience for both patients and Healthcare providers.
The market is divided into two categories based on Enrollment Type: On-site and Remote. The market is primarily dominated by the on-site segment. Healthcare providers who value having direct control over their data may find on-site eConsent solutions appealing. Certain institutions may prefer an on-premises solution, especially if they have specific data governance policies in place.
The market is divided into five categories based on Form Type: General Consent, General Consent with Specific Denial(s), General Denial with Specific Consent(s) and General Denial. The market is largely dominated by the General Consent form. The preference for either general consent forms or electronic consent can be influenced by the demographics of the patient population served by a Healthcare facility. It is worth noting that older populations may have different levels of comfort when it comes to digital processes.
Econsent in Healthcare Market- Geographical Insights
The Econsent in Healthcare Market is geographically widespread across various regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in the business. In terms of growth, North America is expected to dominate the Econsent market in the Healthcare industry. This can be attributed to the high demand for Econsent solutions and the increasing digitalization of patient health information in the region. North America has been actively investing in the digitalization of patient health information through the adoption of electronic health records (EHRs) and other health information technologies. The integration of Econsent solutions aligns with this digital healthcare trend, providing a seamless transition in the continuum of digital healthcare. It is worth noting that while consumers in the United States have quickly adapted to digital health, 33% of them believe that their medical providers should validate such technology. This cautious approach can be attributed to the proliferation of health apps and wearables, which has made consumers more conscious of their choices in the digital healthcare landscape. These insights are supported by digital adoption healthcare statistics in the U.S. In Europe, the market for Econsent in Healthcare holds the second-largest region for growth. This can be attributed to the growing demand for healthcare technologies in the region.
The competitive landscape of the healthcare market is witnessing a significant change in the realm of Econsent. The clinical trial industry has undergone a remarkable transformation due to the growing acceptance of hybrid and decentralized models. These models have been made possible by the availability of digital technologies that support them, enabling a larger pool of patients to participate in trials. In this context, manufacturers are placing their focus on monitoring advancements in Econsent technology. They are particularly interested in the adoption of new features and integration capabilities. Additionally, they are exploring the innovation roadmap of each provider, assessing how well they adapt to emerging technologies and industry trends, and understanding their plans for future developments.
In January 2023, ATLANTA, Florence Healthcare, a clinical research technology company, has released its annual State of Clinical Trial Technology Report. Over four hundred clinical research sites, sponsors, and Contract Research Organizations (CROs) responded to the survey about how they plan to invest in software for their 2023 studies.
The scope of this report covers the market by its major segments, which include as follows: