PUBLISHER: Grand View Research | PRODUCT CODE: 1404799
PUBLISHER: Grand View Research | PRODUCT CODE: 1404799
eConsent In Healthcare Market Growth And Trends
The global eConsent in healthcare market size is anticipated to reach USD 909.14 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 11.3% from 2024 to 2030. Increasing adoption of eConsent in clinical trials, coupled with advancements in mobile technologies, is set to transform processes of designing, delivering, and managing informed consent. eConsent offers improved version control, remote monitoring, and document management benefits. Based on an article published by PRC Clinical titled "A History of eConsent by Quorum Review IRB" and Signant Health's research, researchers using current eConsent tools appreciate improvements in version control, document management, and remote monitoring. Implementing digital technologies, particularly mobile devices, is expected to revolutionize the informed consent process, benefiting patients and sponsors by enabling more accurate patient selection and participation.
Furthermore, implementing eConsent in clinical trials has improved patient comprehension and consequently created better trial subjects. For instance, based on Signant Health's research article, eConsent presents a promising opportunity to enhance patient comprehension and yield better trial subjects. The traditional nonstandardized consent forms are prone to errors and deficiencies, which can be addressed by a standardized, legible, & understandable eConsent system. Furthermore, adoption of eConsent in clinical trials by elderly participants is anticipated to rise significantly between 2023 and 2030.
Increased use of eConsent also drives its integration with other eClinical solutions, supporting market growth. According to the State of eConsent 2020 report by Signant Health, 28% of survey respondents integrated eConsent with EDC products and clinical trial management systems, while 17%, 19%, and 26% integrated eConsent with randomization & trial supply management solutions, electronic trial master file, and electronic clinical outcome assessment, respectively.
Companies that acquire or form strategic partnerships with eConsent solution providers and other eClinical companies are expected to gain a competitive advantage across various sectors. These strategic initiatives are projected to bolster market growth over the forecast period. For instance, in June 2022, uMotif and ClinOne announced a partnership to address the challenges faced by patients & clinical research coordinators who struggle to navigate multiple systems, apps, & sensors for each protocol. To overcome these challenges, these two companies aim to provide life sciences industry with a single, integrated solution that delivers best-in-class Electronic Clinical Outcome Assessments (eCOA) and Electronic Informed Consent (eConsent) technology.