Medical Second Opinion Market - Forecast(2021 - 2026)

Report Code: HCR 0024 Report Format: PDF + Excel (Delivery in 48 Hrs)

Medical Second Opinion Market Overview

The Medical Second Opinion Market size is estimated to reach $7.12 Billion by 2025, growing at a CAGR of 19.1% during the forecast period 2020-2025. Medical Second Opinion Service is the additional consultation taken by the patient after the primary diagnosis. The patient can opt for a medical second opinion if the patient feels dissatisfied with the diagnosis or if there is a need for further validation in case of some serious surgical procedures. Medical Second Opinion Service is the additional consultation taken by the patient after the primary diagnosis the demand for a medical second opinion is high in chronic ailments such as Ocular disorders; Neurological disorders, pulmonary disorders and Nephrological disorders which are driving the medical second opinion market during the forecast period 2020-2025.

Medical Second Opinion Market Report Coverage

The report: “Medical Second Opinion Market Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Medical Second Opinion Market. 
By Disorder Type: Organ Transplant, Cardiac disorder, Hematologic blood disorder, Orthopaedic disorder, COPD, Nephrological disorders, Neurological disorders, Rheumatologic disorder, Ocular disorder, Skin disorder, Kidney and urological diseases Obstetrics and Gynaecological disorders and cancers and others.
By Service provider Type: Online and Offline Medical Second Opinion Service provider, Hospitals, Health insurance Companies, Private clinics. 
By Geography: North America, Asia-Pacific, Europe, and Rest of the World.

Key Takeaways

  • Geographically the North America Medical Second opinion Market accounted for the highest revenue share in 2019. This is owing to and is rising focus on healthcare cost optimization.
  • Factors such as increasing prevalence of chronic diseases and rising focus on healthcare cost optimization are driving the demand for Medical Second Opinion Market. 
  • Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Medical Second Opinion Market.

Medical Second Opinion Market Segment Analysis - By Disorder Type

Based on Disorder Type, Medical second opinion Market is segmented into Cardiac disorder, Organ Transplant, Neurological disorder, COPD, Ocular disorder, Skin disorder, Kidney and urological disorder, Nephrological disorder, and others. Neurological disorder segment holds the largest share in terms of revenue in 2019. This is owing to rising focus on healthcare cost optimization and increasing number of neurological disorders. COPD is set to be the fastest-growing CAGR 19.7% during the forecast period 2020-2025. This is owing to the increase in incidence and prevalence of asthma and COPD patients, technological advancements, and growing geriatric population.

Medical Second Opinion Market Segment Analysis - By Service Provider Type

Based on Service type, Medical second opinion Market is segmented into Hospitals, Health Insurance Companies, Online and offline second opinion service providers, Private clinics and others. Hospitals segment held the major share in 2019. This is owing to the feasibility they provide to the patients and increase in incidence and prevalence of asthma and COPD, technological advancements, and growing geriatric population. Online and offline second opinion service providers market is set to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to the increasing Hospitals and Online provider services and higher efficiency and added Service provider functionalities which are contributing to the growth of this segment.

Medical Second Opinion Market Segment Analysis - By Geography

Based on Geography the Medical Second Opinion Market is segmented into North America, , Europe, Asia-Pacific, and Rest of the World. North America had a dominant share in terms of revenue with overall share of XX% in 2019. This is owing to highly aware population, advanced healthcare infrastructure, and favorable government initiatives. However Europe is set to be the fastest-growing CAGR during the forecast period 2020-2025. This is owing to increased need for improved diagnosis and treatment planning, reducing the financial cost, and ease of interaction in European countries.

Medical Second Opinion Market Drivers

Financial, health, and legal costs associated with the treatments.

The main important drivers of Medical second opinion Market are the increasing trend in second opinion medical services, mainly owing to the financial, health, and legal costs associated with the treatments. Increasing preference for healthcare cost optimization and the rise in awareness among people are set to drive the growth of the medical second opinion market during the forecast period 2020-2025.

Medical Second Opinion Market Challenges

One of the biggest challenges that the industries are facing today, is that of the flitting patient – who moves from one doctor to another, obtaining a variety of opinions, often conflicting. Without anyone doctor in overall charge of the therapy, they are set to choose to accept whatever advice that is given to them. The problem is also compounded by the absence of clear-cut guidelines on the use of second opinion in India as well as globally.

Medical Second Opinion Market Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Second Opinion Market. Key companies of this market are World Care International Inc, Cynergy Care, John Hopkins, Amradnet, Teldox Health Inc, Mediguide America, Elite Medical Services, Doctor Spring and Medix, among others.

Developments/Product Launch:

  • In October 2017 , The Co-operators partners with World Care International, Inc. to launch mental health medical second opinion research program designed to optimize individual healthcare decisions


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1. Medical Second Opinion Market Overview
    1.1 Definitions and Scope
2. Medical Second Opinion Market Executive Summary
    2.1 Market revenue, Market Size and Key Trends 
    2.2 Key trends by Disorder Type
    2.3 Key trends by Service Provider Type
    2.4 Key trends by Geography
3. Medical Second Opinion Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Product Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis 
    3.5 Pricing Analysis
4. Medical Second Opinion Market- Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Medical Second Opinion Market- Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Medical Second Opinion Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes 
7. Medical Second Opinion Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Medical Second Opinion Market  – By Disorder Type (Market Size -$Million/$Billion)
    8.1 Organ Transplant
    8.2 Cardiac disorder
    8.3 Hematologic blood disorders
    8.4 Orthopaedic disorder
    8.5 COPD 
    8.6 Nephrologicaldisorders
    8.7 Neurological disorders
    8.8 Rheumatologic disorders
    8.9 Ocular disorders
    8.10 Skin disorders
    8.11 Kidney and Urological diseases
    8.12 Obstetrics and Gynaecological disorders and cancers
    8.13 Others 
9. Medical Second Opinion Market – By Service Provider Type (Market Size -$Million/$Billion)
    9.1 Online and Offline Medical Second opinion Service providers
    9.2 Hospitals
    9.3 Health insurance companies
    9.4 Private clinics
    9.5 Others
10. Medical Second Opinion Market - By Geography (Market Size -$Million/$Billion)
    10.1 North America
        10.1.1 U.S.
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Asia-Pacific
        10.2.1 China
        10.2.2 Japan
        10.2.3 South Korea
        10.2.4 India
        10.2.5 Australia & New Zealand
        10.2.6 Rest of Asia-Pacific
    10.3 Europe 
        10.3.1 U.K  
        10.3.2 Germany  
        10.3.3  Italy 
        10.3.4 Denmark
        10.3.5 Spain
        10.3.6 Netherlands
        10.3.7 Belgium
        10.3.8 France
        10.3.9 Rest of Europe
    10.4 Rest of the World
        10.4.1 Middle East
        10.4.2 Africa
        10.4.3 South America
11. Medical Second Opinion Market Entropy
12. Medical Second Opinion Market - Industry / Segment Competition landscape Premium Premium
    12.1 Market Share Analysis
        12.1.1 Market Share by Country- Key companies
        12.1.2 Market Share by Region- Key companies
        12.1.3 Market Share at Global Level- Key companies
        12.1.4 Best Practices for Companies
13. Medical Second Opinion Market - Key Company List by Country Premium Premium
14. Medical Second Opinion Market Company Analysis (Company Revenue, Products, M&A, Developments)
    14.1 World Care International Inc.
    14.2 Cynergy Care
    14.3 John Hopkins 
    14.4 Amradnet
    14.5 Teladoc Health,Inc
    14.6 Mediguide America
    14.7 Elite Medical Services
    14.8 Doctor Spring
    14.9 Medix
    14.10 UC San Diego Health System.

"*Financials for private companies would be provided on a best efforts basis”.
List of Tables:

Table 1. Global Medical Second Opinion Market Revenue, By Disorders, 2014 - 2020 ($Million)
Table 2. Numbe Ro People Suffering From Blindness And Vision Impairment Include
Table 3. Global Market for Medical Second Opinion, Revenue By Service Provider, 2014 - 2020 ($Million)
Table 4. Global Market for Medical Second Opinion, Revenue By Region, 2014 - 2020 ($Million)
Table 5. Americas Market for Medical Second Opinion, Revenue By Disorders, 2014 - 2020 ($Million)
Table 6. Americas Market for Medical Second Opinion, Revenue By Service Provider, 2014 - 2020 ($Million)
Table 7. Americas Market for Medical Second Opinion, Revenue By Country, 2014 - 2020 ($Million)
Table 8. Europe Market for Medical Second Opinion, Revenue By Disorders, 2014 - 2020 ($Million)
Table 9. Europe Market for Medical Second Opinion, Revenue By Service Provider, 2014 - 2020 ($Million)
Table 10. Europe Medical Second Opinion Market Revenue, By Country, 2014 - 2020 ($Million)
Table 11. APAC Market for Medical Second Opinion, Revenue By Disorders, 2014 - 2020 ($Million)
Table 12. APAC Market for Medical Second Opinion, Revenue By Service Provider, 2014 - 2020 ($Million)
Table 13. APAC Market for Medical Second Opinion, Revenue By Country, 2014 - 2020 ($Million)
Table 14. Row Market for Medical Second Opinion, Revenue By Disorders, 2014 - 2020 ($Million)
Table 15. Row Market for Medical Second Opinion, Revenue By Service Provider, 2014 - 2020 ($Million)
Table 16. APAC Medical Second Opinion Market Revenue, By Country, 2014 - 2020 ($Million)

 
List of Figures :

Figure 1. Global Medical Second Opinion Market, By Disorders
Figure 2. Global Medical Second Opinion Market, By Service Providers
Figure 3. Market for Medical Second Opinion, Revenue 2014-2020 ($Billion)
Figure 4. Market for Medical Second Opinion, Revenue By Geographic Region (%)
Figure 5. Global Medical Second Opinion Market,Value Chain Analysis
Figure 6. Global Medical Second Opinion Market, Product/Market Lifecycle Analysis
Figure 7. Global Medical Second Opinion Market, Product/Market Lifecycle Analysis, Developing Nations
Figure 8. Financial Performance, 2010-14 ($Billion)
Figure 9. Financial Performance, 2010-2014 ($Million)