The orthopedic diaorder segment by disorders is estimated to lead the market growth during the forecast period
According to The Insight Partners market research study of “Europe Medical Second Opinion Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Disorders, Service Providers and Country.” The Europe medical second opinion market is expected to reach US$ 3,252.99 Mn by 2027 from US$ 1,116.44 Mn in 2020; it is estimated to grow at a CAGR of 16.5% from 2020 to 2027. The report highlights trends prevailing in the Europe medical second opinion market and the factors driving market along with those that act as hindrances.
Telemedicine technologies incorporate modern communication platforms intending to conduct virtual interaction between patients and healthcare professionals. The adoption of telemedicine technologies allows physician and patient communication over geographical boundaries. This significant benefit of telemedicine technologies and growing investments is likely to offer lucrative growth opportunities for the medical second opinion market during the forecast period. For instance, in March 2020, New Capital Partners invested in TeleHealth Solution (THS) to develop new telemedicine technologies. These new technologies will be prominently useful for nursing services, long-term care, and assisted living facilities. With the help of this investment, the company is planning to launch pre-consultations, second medical opinion, and appointment-booking platforms to provide ease of healthcare access for a large number of populations. Such an increasing number of investments in telemedicine technologies are projected to offer a lucrative opportunity for market growth by 2027. Also, the rising number of partnerships and collaborations among software developing companies and healthcare institutions is accelerating the digitalization of medical consulting services. Such growing digitalization of medical second opinion services is estimated to offer a lucrative opportunity for the market's growth.
The European countries have been severely affected by the COVID-19 pandemic. The number of patients has increased; errors can happen due to the complexity of cases or the lack of deep expertise and practice in all cases. However, the presence of false-negative makes the diagnosis difficult, especially in the early stages of the disease. That is why getting a second opinion can be an essential step, especially if there is any uncertainty about the diagnosis and treatment plan in COVID-19. Hence, the rising demand for a medical second opinion in Europe is likely to impact market growth during the forecast period positively.
Based on disorders, the Europe medical second opinion market is segmented into cancer, diabetes, cardiac disorders, neurological disorders, nephrological disorders, hematological disorders, COPD, orthopedic disorder, organ transplant, and other diseases. Based on service provider, the Europe medical second opinion market is segmented into hospitals, health insurance companies, and online services. Geographically, the North America medical second opinion market is sub-segmented into U.K, Germany, France, Spain, Italy. and Rest of Europe.
Second Opinion International, Elite Medical Services, Helsana, Cigna, WorldCare, Medix, 2nd.MD (Innovation Specialists LLC) and AXA are among the leading companies operating in the Europe medical second opinion market.