Medical Second Opinion Market by Disorder (Cardiac Disorder, COPD, and Others), Service Providers (Hospitals, Health Insurance Companies and Others) and Region - Global Industry Analysis, Opportunities and Forecast up to 2029

The global Medical Second Opinion market size was valued at $6.31 billion in 2023 and is projected to reach $17.50 billion by 2029, growing at a CAGR of 18.5% during the forecast period.

• The growth of the medical second opinion market is majorly driven by advanced treatment outcomes and rising preference for healthcare cost optimization, and rising awareness about the possible exploitation from healthcare organizations, especially in low- and middle-income countries, significantly boosting the market.
 
• In addition, the increasing number of hospitals all over the world and rising population in emerging nations are the factors about to augment the market.
 
• However, the lack of awareness and enthusiasm towards opting for a medical second opinion in developing countries hamper the market growth.
 
The medical second opinion is a decision-making aid that allows another physician to confirm or modify a suggested treatment. The perception plays a significant role in dealing with the confusion created through the suggestion of various treatment alternatives for a single case. The patient can either go for a medical second opinion if the patient feels displeased with the diagnosis or if there is a need for further validation in case of some serious surgical procedures. In recent years, many people have been seeking a second opinion on their condition and treatment options. The medical second opinion can authenticate diagnosis; therefore, it plays a key role in increasing the accuracy of the treatment.

By Service Provider, the Hospitals segment Holds the Dominant Position in the Market Revenue

The hospitals segment garnered the highest market share and this is primarily accredited to the possibility they suggest to the patients and increase in incidence and prevalence of asthma, COPD, technological advancements, and the growing geriatric population.

By Geography, North America Region is Leading in the Global Market Place

North America region dominates the medical second opinion market and is liable to hold the largest market share over the foreseeable period due to awareness in the population, advanced healthcare infrastructure, rising favorable government initiatives, and rising prevalence of diseases due to change in lifestyle. Furthermore, the government also initiating approving policies and programs in the region and provides reimbursements through medical insurance.

List of the Key Players Profiled in the Market Include:
• Second Opinion International
• Medisense Healthcare Solutions Pvt. Ltd.
• Johns Hopkins USA
• AXA S.A.
• Elite Medical Services
• DoctorSpring Pvt. Ltd
• USARAD Holdings Inc.
• Cleveland Clinic
• Grand Rounds, Inc.
• Mass General Brigham Incorporated
• Stanford Health Care
• Amradnet
• London Pain Clinic
• World Care International Inc.

What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments and regions/countries predicted to observe promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Global Medical Second Opinion Market by, Disorder
• Cardiac Disorder
• COPD (Chronic Obstructive Pulmonary Disease)
• Hematologic Blood Disorders
• Kidney And Urological Diseases
• Nephrological Disorders
• Neurological Disorders
• Obstetrics and Gynaecological Disorders and Cancers
• Ocular Disorders
• Organ Transplant
• Orthopedic Disorder
• Rheumatologic Disorders
• Skin Disorders
• Other Disorders

Global Medical Second Opinion Market by, Service Providers
• Hospitals
• Health Insurance Companies
• Online and Offline Medical Services Providers
• Other Service Providers

Global Medical Second Opinion Market by, Geography
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview            
    1.1 Introduction        
    1.2 Research Objectives       
    1.3 Market Segmentation       
    1.4 Stakeholders        
    1.5 List of Acronyms        
              
2 Executive Summary            
              
3 Research Methodology           
    3.1 Identification of Data       
    3.2 Evaluation of Market Dynamics      
    3.3 Collaboration of Data       
    3.4 Verification and Analysis       
    3.5 Data Sources        
    3.6 Assumptions        
              
4 Market Dynamics            
    4.1 Market Drivers        
            4.1.1 Prevalence of chronic diseases and cancer
            4.1.2 Errors in medical billing due to surge in healthcare demand
            4.1.3 Emergence of online second opinion facilities with advance AI features
    4.2 Market Restraints        
            4.2.1 Lack of medical knowledge on treatment and diagnosis
            4.2.2 Inadequate industry professionals
    4.3 Market Opportunities       
            4.3.1 Rising R&D activities and technological advancement in the healthcare sector
    4.4 Market Challenges        
            4.4.1 High-cost expenses
    4.5 Impact of COVID-19 on Medical Second Opinion Market    
              
5 Porter's Five Force Analysis           
    5.1 Bargaining Power of Suppliers       
    5.2 Bargaining Power of Buyers       
    5.3 Threat of New Entrants       
    5.4 Threat of Substitutes       
    5.5 Competitive Rivalry in the Market      
              
6 Global Medical Second Opinion Market by, Disorder         
    6.1 Overview        
    6.2 Cardiac Disorder        
    6.3 COPD (Chronic Obstructive Pulmonary Disease)     
    6.4 Hematologic Blood Disorders       
    6.5 Kidney And Urological Diseases      
    6.6 Nephrological Disorders       
    6.7 Neurological Disorders       
    6.8 Obstetrics and Gynaecological Disorders And Cancers    
    6.9 Ocular Disorders        
    6.10 Organ Transplant        
    6.11 Orthopedic Disorder       
    6.12 Rheumatologic Disorders       
    6.13 Skin Disorders        
    6.14 Other Disorders        
              
7 Global Medical Second Opinion Market by, Service Providers        
    7.1 Overview        
    7.2 Hospitals         
    7.3 Health Insurance Companies       
    7.4 Online and Offline Medical Services Providers     
    7.5 Other Service Providers       
              
8 Global Medical Second Opinion Market by, Geography        
    8.1 Overview        
    8.2 North America        
    8.3 Europe         
    8.4 Asia Pacific        
    8.5 South America        
    8.6 Middle East & Africa       
              
9 Key Developments            
              
10 Company Profiling            
    10.1 Second Opinion International       
            10.1.1 Business Overview
            10.1.2 Product/Service Offering
            10.1.3 Financial Overview
            10.1.4 SWOT Analysis
            10.1.5 Key Activities
    10.2 Medisense Healthcare Solutions Pvt. Ltd.     
    10.3 Johns Hopkins USA         
    10.4 AXA S.A.         
    10.5 Elite Medical Services       
    10.6 DoctorSpring Pvt. Ltd       
    10.7 USARAD Holdings Inc.       
    10.8 Cleveland Clinic        
    10.9 Grand Rounds, Inc.        
    10.10 Mass General Brigham Incorporated      
    10.11 Stanford Health Care       
    10.12 Amradnet        
    10.13 London Pain Clinic        
    10.14 World Care International Inc.