eConsent in Healthcare Market: Analysis by Size, Share, Growth, Trends & Forecast (2023-2030)

 

eConsent in Healthcare Market Booming with Rise in Clinical Trials and Digital Healthcare

The eConsent in Healthcare market, valued at USD 435.95 million in 2023, is projected to reach new heights with a CAGR of around 5.6% by 2030. This growth is fueled by the ever-increasing number of clinical trials being conducted worldwide.

Why eConsent Matters:

eConsent, or electronic consent, replaces traditional paper forms with digital platforms for obtaining informed consent in healthcare settings. This innovative approach offers significant advantages:

• Enhanced Efficiency: Streamlines the consent process, saving time and resources for both patients and healthcare providers.
• Improved Accuracy: Reduces errors and ensures clear communication regarding procedures and risks.
• Greater Patient Satisfaction: Empowers patients with better access to information and a more convenient consent experience.

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Driving Forces:

The surge in clinical trials is a key driver of the eConsent market. Here's a glimpse into the remarkable rise:

• Global Clinical Trial Boom: The number of clinical studies has skyrocketed from 2,119 in 2000 to a staggering 437,530 as of July 2023 (ClinicalTrial.gov). This 49.2% increase in just five years highlights the critical need for efficient consent processes.

Market Landscape:

Leading players like Veeva Systems, Florence Healthcare, and Concentric Health Ltd. are at the forefront, offering innovative eConsent solutions. Collaborations like Validic's partnership with Cerner and Epic Systems' launch of their web-based eConsent module showcase the increasing focus on integrating eConsent with electronic health records (EHR) for a seamless experience.

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Market Segmentation and Trends:

• Platform: Web-based solutions are projected to see significant growth due to their accessibility and user-friendly nature.
• Enrollment: While on-site eConsent currently dominates, the convenience of remote enrollment is gaining traction.
• Form Type: "General denials with specific consents" forms are expected to rise as they offer a balance between patient control and data protection.
• Region: The Asia Pacific region is a promising market due to its growing focus on healthcare research and rapid technology adoption.

Looking Ahead:

The eConsent market presents a compelling opportunity as the healthcare industry embraces digital transformation. As clinical trials continue to evolve and patient-centric care gains priority, eConsent solutions will play a vital role in streamlining consent processes and improving healthcare delivery.