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Global Medical Second Opinion Market Size, Trends & Growth Opportunity, By Disorder, By Service Provider, and By Region and Forecast till 2027.

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    Report

  • February 2022
  • Region: Global
  • Qualiket Research
  • ID: 5548476
The Global Medical Second Opinion Market is projected to grow from USD 3.56 billion in 2020 to USD 10.24 billion by 2026 at a CAGR of over 19.3%

The purpose of a medical second opinion is to provide useful information about a patient's current treatment options. The concept is important in addressing the confusion that can arise when multiple treatment options are recommended for a single case. Furthermore, the expert's opinion is sought in order to obtain additional information that could help improve the disease's treatment outcomes. The medical second opinion can help to confirm a diagnosis, which helps to improve the treatment's accuracy.

Drivers:

A growing preference for healthcare cost optimization, as well as an increase in public awareness, a growing need for improved diagnosis and treatment planning, reduced financial costs, and ease of interaction, rising superior treatment outcomes, rising prevalence of diseases due to changes in lifestyle, a growing number of hospitals around the world, and an increasing population in developing countries, are all major factors driving market growth. Furthermore, rising telemedicine investments, rising modernization and technological advancement in the healthcare sector, and rising research and development activities in the market will create new opportunities for the medical second opinion market.

Restraints:

In emerging nations, a growing lack of awareness and apprehension about seeking medical second opinions is a key factor that will stymie market growth and pose additional challenges to the medical second opinion market.

Impact of Covid-19

The ongoing COVID-19 pandemic has pushed the medical second opinion industry to new heights. As a result of the COVID 19 outbreak, there has been an increase in demand for second opinions from physicians and health insurance providers. Physicians advise patients to seek a second opinion if they believe there is a better chance of detecting and diagnosing the disease. A second opinion is also recommended by health insurance providers to learn about the insurance coverage for various medical services.

Market Segmentation

  • Segmentation by Disorder: Global Medical Second Opinion Market is classified on the basis of Disorder into Cancer, Orthopedic, Cardiac disorders, Neurological disorders, Nephrological disorders, Hematologic blood disorders, COPD, Organ transplant, and Others.
  • Segmentation by Service Provider: Global Medical Second Opinion Market is classified on the basis of Service Provider into Hospitals, Health Insurance Companies, and Online Services.
  • Segmentation by Region: Global Medical Second Opinion Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape: The key players of Global Medical Second Opinion Market are Medisense Healthcare Solutions Pvt. Ltd., Second Opinion International, Elite Medical Services, Cigna, Helsana, WorldCare, Vidal Health Insurance TPA Pvt Ltd, Medix, 2nd.MD, and AXA amongst others.

Industrial Development

  • The Co-operators partnered with World Care International, Inc. in October 2017 to launch a mental health medical second opinion research programme to help people make better healthcare decisions.
  • In March 2017, WorldCare International, Inc. began a pilot programme with a select group of clients around the world to test WorldCare ACCESS Pain Management, a new pain management second opinion service.
  • The Co-operators Group Limited and WorldCare International, Inc. announced the launch of a research programme in October 2017 that provided participants and their physicians with an in-depth mental health medical second opinion.

Market Taxonomy


By Disorder

  • Cancer
  • Orthopedic
  • Cardiac disorders
  • Neurological disorders
  • Nephrological disorders
  • Hematologic blood disorders
  • COPD
  • Organ transplant
  • Others

By Service Provider

  • Hospitals
  • Health Insurance Companies
  • Online Services

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Questions Addressed by the Report

  • What are the Key Opportunities in Global Medical Second Opinion Market?
  • What will be the growth rate from 2020 to 2027?
  • Which segment/region will have highest growth?
  • What are the factors that will impact/drive the Market?
  • What is the competitive Landscape in the Industry?
  • What is the role of key players in the value chain?
Frequently Asked Questions about the Global Medical Second Opinion Market

What is the estimated value of the Global Medical Second Opinion Market?

The Global Medical Second Opinion Market was estimated to be valued at $24.3 Billion in 2020.

What is the growth rate of the Global Medical Second Opinion Market?

The growth rate of the Global Medical Second Opinion Market is 6.2%, with an estimated value of $37 Billion by 2027.

What is the forecasted size of the Global Medical Second Opinion Market?

The Global Medical Second Opinion Market is estimated to be worth $37 Billion by 2027.

Who are the key companies in the Global Medical Second Opinion Market?

Key companies in the Global Medical Second Opinion Market include Medisense Healthcare Solutions Pvt. Ltd., Second Opinion International, Elite Medical Services, Cigna, Helsana, WorldCare, Vidal Health Insurance TPA Pvt Ltd, Medix and AXA amongst others..

Table of Contents

1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Medical Second Opinion Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5. Global Medical Second Opinion Market, By Disorder
5.1 Y-o-Y Growth Comparison, By Disorder
5.2 Medical Second Opinion Market Share Analysis, By Disorder
5.3 Medical Second Opinion Market Size and Forecast, By Disorder
5.3.1 Cancer
5.3.2 Orthopedic
5.3.3 Cardiac disorders
5.3.4 Neurological disorders
5.3.5 Nephrological disorders
5.3.6 Hematologic blood disorders
5.3.7 COPD
5.3.8 Organ transplant
5.3.9 Others
6. Global Medical Second Opinion Market, By Service Provider
6.1 Y-o-Y Growth Comparison, By Service Provider
6.2 Medical Second Opinion Market Share Analysis, By Service Provider
6.3 Medical Second Opinion Market Size and Forecast, By Service Provider
6.3.1 Hospitals
6.3.2 Health Insurance Companies
6.3.3 Online Services
7. Global Medical Second Opinion Market, By Region
7.1Medical Second Opinion Market Share Analysis, By Region
7.2 Medical Second Opinion Market Size and Forecast, By Region
7.3 Medical Second Opinion Market Size and Forecast, By Region
8. North America Medical Second Opinion Analysis and Forecast (2021-2027)
8.1 Introduction
8.2 North America Medical Second Opinion Market Share Analysis, By Disorder
8.3 North America Medical Second Opinion Market Size and Forecast, By Service Provider
8.4 North America Medical Second Opinion Market Size and Forecast, By Country
8.4.1 US
8.4.2 Canada
9. Europe Medical Second Opinion Market Analysis and Forecast (2021-2027)
9.1 Introduction
9.2 Europe Medical Second Opinion Market Share Analysis, By Disorder
9.3 Europe Medical Second Opinion Market Size and Forecast, By Service Provider
9.4 Europe Medical Second Opinion Market Size and Forecast, By Country
9.4.1 UK
9.4.2 Germany
9.4.3 France
9.4.4 Italy
9.4.5 Spain
9.4.6 Netherland
10. Asia Pacific Medical Second Opinion Market Analysis and Forecast (2021-2027)
10.1 Introduction
10.2 Asia Pacific Medical Second Opinion Market Share Analysis, By Disorder
10.3 Asia Pacific Medical Second Opinion Market Size and Forecast, By Service Provider
10.4 Asia Pacific Medical Second Opinion Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Australia
11. Latin America Medical Second Opinion Market Analysis and Forecast (2021-2027)
11.1 Introduction
11.2 Latin America Medical Second Opinion Market Share Analysis, By Disorder
11.3 Latin America Medical Second Opinion Market Size and Forecast, By Service Provider
11.4 Latin America Medical Second Opinion Market Size and Forecast, By Country
11.4.1 Brazil
11.4.2 Rest of Latin America
12 Middle East & Africa Medical Second Opinion Market Analysis and Forecast (2021-2027)
12.1 Introduction
12.2 Middle East & Africa Medical Second Opinion Market Share Analysis, By Disorder
12.3 Middle East & Africa Medical Second Opinion Market Size and Forecast, By Service Provider
12.4 Middle East & Africa Medical Second Opinion Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3. Egypt
12.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14. Company Profiles
14.1 Medisense Healthcare Solutions Pvt. Ltd.
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 Second Opinion International
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Elite Medical Services
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Vidal Health Insurance TPA Pvt Ltd
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 Medix
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 2nd.MD
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies

Companies Mentioned

  • Medisense Healthcare Solutions Pvt. Ltd.
  • Second Opinion International
  • Elite Medical Services
  • Cigna
  • Helsana
  • WorldCare
  • Vidal Health Insurance TPA Pvt Ltd
  • Medix
  • 2nd.MD
  • AXA amongst others.