Europe Medical Second Opinion Market Share and Forecast by 2027

The Europe medical second opinion market is expected to reach US$ 3,252.99 million by 2027 from US$ 1,116.44 million in 2020; it is estimated to grow at a CAGR of 16.5% from 2020 to 2027.

The market's growth is attributed to growing emphasis on superior treatment outcomes and increasing preference for healthcare cost optimization. However, the absence of clear-cut guidelines on using medical second opinion globally is likely to impact market growth during the forecast period negatively.

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 market 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.

 

EUROPE MEDICAL SECOND OPINION MARKET SEGMENTATION

By Disorder

• Cancer
• Orthopaedic Disorders
• Cardiac Disorders
• Neurological Disorders
• Nephrological Disorders
• Hematologic Blood Disorders
• COPD (Chronic Obstructive Pulmonary Disease)
• Organ Transplant
• Other Diseases

By Service Provider

• Hospitals
• Health Insurance Companies
• Online Services

By Country

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe

Company Profiles

• Second Opinion International
• Elite Medical Services
• Helsana
• Cigna
• WorldCare
• Medix
• 2nd.MD (Innovation Specialists LLC)
• AXA

Europe Medical Second Opinion Report Scope