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Consent Management Market Volume Forecast and Value Chain Analysis 2016-2026

01-15-2019 02:51 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Consent Management Market Volume Forecast and Value Chain

With a growing trend of cloud storage, most of the data generated is stored in the cloud nowadays which gives rise to the concern regarding privacy and security of the data. This creates need for a type of system or software which can prevent the data from being exploited. Therefore, need for data protection is a major driver for consent management market.

Consent management is made to safeguard personal health information (PHI). It lets the patient to give consent to access and usage of their respective PHI by healthcare providers. Consent management helps the consumers to determine who can have access to their protected health information and for what purpose. It also helps the consumers to establish their records in various e-health initiatives such as personal health record and patient portal. The foundation of consent management is based on consent granularity which means patients can share only those information which they want to share.

Using consent management software patients:

Get the authority to participate or refuse in health information exchange (HIE)

Can create a record of their health information, modify, and store health information privacy policies

Can allow or deny override access to PHI

Kantara Initiative, a non-profit organization, has made an “Open Consent framework” by which people can do consent management without actually enrolling into any consent management system. By using this, people can get a summary of what they are agreeing to and receive a consent receipt by just pressing a button.

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Global Consent Management Market: Drivers and Restraints

Paper forms have always been the primary means to collect patient consent in the healthcare domain. These forms are scanned and kept into electronic health records. However, sometimes these discrete data cannot be read by machines and therefore, creates a discrepancy. This creates need for structured electronic consent forms so that the health IT systems are able to accurately identify information and process patients’ consent in an automated manner.

Protection of sensitive information is also one of the factors which promote the usage of consent management. People usually do not want to disclose sensitive information such as mental health, sexually transmitted diseases, reproductive health, domestic violence, and substance abuse. This creates demand for consent management systems.

However, consent management systems require a significant amount of investment to be deployed and sustained. Therefore, only large healthcare system providers have enough financial resources to invest and maintain this system. Another major restraint for the market is compliance complexity. The patients and providers are expected to follow different laws, policies, and regulations. This might create conflicts as both the parties follow multiple compliance regimes. Proliferation of smartphones increases the compliance complexity in consent management as mobile networks send sms and automated dial which requires people to give their consent.

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Global Consent Management Market: Market Segmentation

Segmentation on basis of End-user:

The major segments of End-user in consent management market include:

Hospitals

Health Networks

Health Information Exchange

Health Information Organization

Global Consent Management Market: Key Players

Some of the prominent players in the Consent Management market include: Fei Systems, HIPAAT, Jericho Systems Corporation, MITRE, PossibleNow, Qordata, and Taylor Healthcare.

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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