The medical second opinion market is expected to reach US$ 10,739.48 million by 2027 from US$ 3,204.57 million in 2019; it is estimated to grow at a CAGR of 16.8% from 2020 to 2027.
Medical second opinion is intended to provide valuable information about the patient’s current treatment options. The concept plays a significant role in dealing with the confusion created through the recommendation of various treatment alternatives for a single case. Besides, the opinion is also sought to gain additional information, which can be helpful to improve treatment outcomes of a disease. The medical second opinion can validate diagnosis; thus, it plays a major role in increasing the accuracy of the treatment. The global medical second opinion market is driven by factors such as superior treatment outcomes and increasing preference for healthcare cost optimization. However, the lack of awareness and reluctance toward opting for medical second opinion in emerging nations hinder the market growth. Additionally, rising investments on telemedicine technologies are creating growth opportunities for the market players.
Lucrative Regional Markets for Medical Second Opinion
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Market Insights
Increasing Preference for Healthcare Cost Optimization
Patients across the globe are witnessing growing financial burdens imposed by healthcare services. Increasing healthcare-associated costs due to the overall shortage of healthcare professionals and limited availability of resources are generating need for healthcare cost optimization worldwide. Also, growing emphasis on the reduction of additional costs and increasing awareness about the possible exploitation from healthcare organizations, especially in low- and middle-income countries, significantly drive the second medical opinion market. The consumers can avail extensive information from medical second opinions while making the necessary decisions about surgery or the main case. In addition, medical second opinion providers review the recommendations for surgical procedures on the basis of additional medical diagnosis, analysis of existing medical records, and assessment of other therapeutic solutions as an alternative for surgery. These aspects of the second opinion can result in reduction of therapeutic cost. Further, second opinion on surgical decisions can also result in reduction in possible surgical adversities, which can lead to additional healthcare-related costs.
For instance, according to a study published by the World Health Organization in 2019, ~25.0% patients around the world suffer from complications in surgical procedures. Moreover, ~1 million people die during surgery or during follow-up of the same each year.
Increasing number of errors in medical billing is also one of the prominent factors responsible for the growth of the market. For instance, according to a study published by the Medical Billing Advocates of America in 2019, an estimated 80.0% of medical bills contain at least one error. Further, problems in medical billing errors cost a total of ~US$ 210 billion each year in the US. These possibilities and occurrences of financial errors are projected to accelerate the growth of the medical second opinion market by 2027.
Disorder-Based Insights
Based on disorders, the 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. In 2019, the cancer segment accounted for the largest share of the global medical second opinion market. The growth of the market for this segment is attributed to the increasing prevalence of cancer and rising preference for second opinion for cancer diagnosis and treatment.
Global Medical Second Opinion Market, by Disorders – 2018 and 2027
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Service Providers-Based Insights
Based on service provider, the medical second opinion market is segmented into hospitals, health insurance companies, and online services. The hospitals segment held the largest share of the market in 2019; however, the market for online services is expected to grow at the highest CAGR during the forecast period.
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Medical Second Opinion Market: Strategic Insights
Market Size Value in US$ 3,204.57 Million in 2019 Market Size Value by US$ 10,739.48 Million by 2027 Growth rate CAGR of 16.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Medical Second Opinion Market: Strategic Insights
Market Size Value in | US$ 3,204.57 Million in 2019 |
Market Size Value by | US$ 10,739.48 Million by 2027 |
Growth rate | CAGR of 16.8% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
Akshay
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Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystProduct launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios; these strategies help them meet the growing consumer demand. Collaboration is one of the major strategies adopted by the medical second opinion market players to enlarge customer base worldwide, which also permits them to maintain their brand name globally.
Global Medical Second Opinion Market– By Disorder
- Cancer
- Orthopedic
- Cardiac disorders
- Neurological disorders
- Nephrological disorders
- Hematologic blood disorders
- COPD
- Organ transplant
- Others
Global Medical Second Opinion Market – By Service Provider
- Hospitals
- Health Insurance Companies
- Online Services
Medical Second Opinion Market – By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
South and Central America
- Brazil
- Argentina
- Rest of South America
Company Profiles
- Medisense Healthcare Solutions Pvt. Ltd.
- Second Opinion International
- Elite Medical Services
- Cigna
- Helsana
- WorldCare
- Vidal Health Insurance TPA Pvt Ltd
- Medix
- 2nd.MD
- AXA
- Teladoc Health, Inc
- DoctorSpring Pvt. Ltd
- USARAD Holdings Inc (SecondOpinions.com)
- Cleveland Clinic
- Grand Rounds, Inc.
- Mass General Brigham Incorporated. (Partners Healthcare)
- Stanford Health Care
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Disorder ; Service Providers ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Medical second opinion is intended to provide valuable information about the patient’s current treatment options. The concept plays a significant role in dealing with the confusion created through the recommendation of various treatment alternatives for a single case. Besides, the opinion is also sought to gain additional information, which can be helpful to improve treatment outcomes of a disease. The medical second opinion can validate diagnosis; thus, it plays a major role in increasing the accuracy of the treatment.
The factors that are driving growth of the market are growing emphasis on superior treatment outcomes and increasing preference for healthcare cost optimization. Moreover, strategic activities by the technological companies to boost telemedicine technologies are offering lucrative opportunities for the growth of the market.
The medical second opinion market majorly consists of the players such as 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.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Medical Second Opinion Market– By Disorder
1.3.2 Global Medical Second Opinion Market– By Service Provider
1.3.3 Global Medical Second Opinion Market– By Geography
2. Medical Second Opinion Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Medical Second Opinion Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe– PEST Analysis
4.2.3 Asia Pacific– PEST Analysis
4.2.4 Middle East & Africa– PEST Analysis
4.2.5 South and Central America – PEST Analysis
4.3 Expert Opinion
5. Medical Second Opinion Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Growing Emphasis on Superior Treatment Outcomes
5.1.2 Increasing Preference for Healthcare Cost Optimization
5.2 Key Market Restraints
5.2.1 Lack of Awareness and Reluctance toward Opting for Medical Second Opinion in Emerging Nations
5.3 Key Market Opportunities
5.3.1 Rising Investments on Telemedicine Technologies
5.4 Future Trends
5.4.1 Digitalization of Medical Consulting Services
5.5 Impact Analysis
6. Medical Second Opinion Market– Global Analysis
6.1 Global Medical Second Opinion Market Revenue Forecast And Analysis
6.2 Global Medical Second Opinion Market, By Geography - Forecast And Analysis
6.3 Market Positioning of Key Players
7. Medical Second Opinion Analysis – By Disorders
7.1 Overview
7.2 Medical Second Opinion Market Share, by Disorder, 2019 and 2027 (%)
7.3 Cancer
7.3.1 Overview
7.3.2 Cancer: Medical Second Opinion Market– Revenue and Forecast to 2027 (US$ Million)
7.4 COPD (Chronic Obstructive Pulmonary Disease)
7.4.1 Overview
7.4.2 COPD: Medical Second Opinion Market– Revenue and Forecast to 2027 (US$ Million)
7.5 Cardiac Disorders
7.5.1 Overview
7.5.2 Cardiac Disorders: Medical Second Opinion Market– Revenue and Forecast to 2027 (US$ Million)
7.6 Neurological disorders
7.6.1 Overview
7.6.2 Neurological Disorders: Medical Second Opinion Market– Revenue and Forecast to 2027 (US$ Million)
7.7 Nephrological Disorders
7.7.1 Overview
7.7.2 Nephrological Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Hematologic Blood Disorders
7.8.1 Overview
7.8.2 Haematological Blood Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
7.9 Orthopaedic Disorders
7.9.1 Overview
7.9.2 Orthopaedic Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
7.10 Organ Transplant
7.10.1 Overview
7.10.2 Organ Transplant: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
7.11 Other Disorders
7.11.1 Overview
7.11.2 Other Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
8. Medical Second Opinion Market Analysis – By Service Providers
8.1 Overview
8.2 Medical Second Opinion Market Share, by Service Provider, 2019 and 2027, (%)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Health Insurance Companies
8.4.1 Overview
8.4.2 Health Insurance Companies: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Online Services
8.5.1 Overview
8.5.2 Online Services: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
9. Medical Second Opinion Market – Geographic Analysis
9.1 North America: Medical Second Opinion Market
9.1.1 Overview
9.1.2 North America: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.1.3 North America: Medical Second Opinion Market, by Disorders, 2018–2027 (USD Million)
9.1.4 North America: Medical Second Opinion Market, by Service Provider, 2018–2027 (USD Million)
9.1.5 North America: Medical Second Opinion Market, by Country, 2019& 2027 (%)
9.1.5.1 US: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.1.5.1.1 US: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.1.5.1.2 US: Medical Second Opinion Market, by Disorder, 2018–2027 (USD Million)
9.1.5.1.3 US: Medical Second Opinion Market, by Service Provider, 2018–2027 (USD Million)
9.1.5.2 Canada: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.1.5.2.1 Canada: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.1.5.2.2 Canada: Medical Second Opinion Market, by Disorder, 2018–2027 (USD Million)
9.1.5.2.3 Canada: Medical Second Opinion Market, by Service Provider 2018–2027 (USD Million)
9.1.5.3 Mexico: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.1.5.3.1 Mexico: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.1.5.3.2 Mexico: Medical Second Opinion Market, by Disorder, 2018–2027 (USD Million)
9.1.5.3.3 Mexico: Medical Second Opinion Market, by Service Provider, 2018–2027 (USD Million)
9.2 Europe: Medical Second Opinion Market
9.2.1 Overview
9.2.2 Europe: Medical Second Opinion Market - Revenue and Forecast to 2027 (USD Million)
9.2.3 Europe Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.2.4 Europe Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
9.2.5 Europe: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
9.2.5.1 Germany: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.1.1 Germany: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.1.2 Germany Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.2.5.1.3 Germany Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.2.5.2 UK: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.2.1 UK: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.2.2 UK Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.2.5.2.3 UK Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.2.5.3 France: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.3.1 France: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.3.2 France Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.2.5.3.3 France Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.2.5.4 Spain: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.4.1 Spain: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.4.2 Spain Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.2.5.4.3 Spain Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.2.5.5 Italy: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.5.1 Italy: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.2.5.5.2 Italy Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.2.5.5.3 Italy Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.3 Asia Pacific: Medical Second Opinion Market
9.3.1 Overview
9.3.2 Asia Pacific: Medical Second Opinion Market - Revenue and Forecast to 2027 (USD Million)
9.3.3 Asia Pacific Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.3.4 Asia Pacific Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
9.3.5 Asia Pacific: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
9.3.5.1 China: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.1.1 China: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.1.2 China Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.3.5.1.3 China Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.3.5.2 Japan: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.2.1 Japan: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.2.2 Japan Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.3.5.2.3 Japan Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.3.5.3 India: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.3.1 India: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.3.2 India Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.3.5.3.3 India Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.3.5.4 South Korea: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.4.1 South Korea: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.4.2 South Korea Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.3.5.4.3 South Korea Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.3.5.5 Australia: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.5.1 Australia: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.3.5.5.2 Australia Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.3.5.5.3 Australia Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.4 Middle East & Africa: Medical Second Opinion Market
9.4.1 Overview
9.4.2 Middle East & Africa: Medical Second Opinion Market - Revenue and Forecast to 2027 (US$ Million)
9.4.3 Middle East & Africa Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.4.4 Middle East & Africa Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
9.4.5 Middle East & Africa: Medical Second Opinion Market, by Country, 2018 & 2027 (%)
9.4.5.1 UAE: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.4.5.1.1 UAE: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.4.5.1.2 UAE Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.4.5.1.3 UAE Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.4.5.2 Saudi Arabia: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.4.5.2.1 Saudi Arabia: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.4.5.2.2 Saudi Arabia Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.4.5.2.3 Saudi Arabia Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.4.5.3 South Africa: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.4.5.3.1 South Africa: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.4.5.3.2 South Africa Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.4.5.3.3 South Africa Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
9.5 South and Central America: Medical Second Opinion Market
9.5.1 Overview
9.5.2 South and Central America: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.5.3 South and Central America Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.5.4 South and Central America Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.5.5 South and Central America: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
9.5.5.1 Brazil: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.5.5.1.1 Brazil: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.5.5.1.2 Brazil Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.5.5.1.3 Brazil Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
9.5.5.2 Argentina: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.5.5.2.1 Argentina: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
9.5.5.2.2 Argentina Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
9.5.5.2.3 Argentina Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
10. Impact of COVID-19 Pandemic on Global Medical Second Opinion Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment Of COVID-19 Pandemic
10.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Rest of the World: Impact Assessment of COVID-19 Pandemic
11. Medical Second Opinion Market –Industry Landscape
11.1 Overview
11.2 Growth Strategies in The Medical Second Opinion Market, 2015-2021
11.3 Inorganic Growth Strategies
11.3.1 Overview
11.4 Organic Growth Strategies
11.4.1 Overview
12. Company Profiles
12.1 Medisense Healthcare Solutions Pvt. Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Second Opinion International
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Elite Medical Services
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Cigna
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Helsana
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 WorldCare
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Vidal Health Insurance TPA Pvt Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Medix
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 2nd.MD (Innovation Specialists LLC)
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 SWOT Analysis
12.9.5 Key Developments
12.10 AXA
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
12.11 Teladoc Health, Inc.
12.11.1 Key Facts
12.11.2 Business Description
12.11.3 Products and Services
12.11.4 Financial Overview
12.11.5 SWOT Analysis
12.11.6 Key Developments
12.12 DoctorSpring Pvt. Ltd
12.12.1 Key Facts
12.12.2 Business Description
12.12.3 Products and Services
12.12.4 Financial Overview
12.12.5 SWOT Analysis
12.12.6 Key Developments
12.13 USARAD Holdings Inc (SecondOpinions.com)
12.13.1 Key Facts
12.13.2 Business Description
12.13.3 Products and Services
12.13.4 Financial Overview
12.13.5 SWOT Analysis
12.13.6 Key Developments
12.14 Cleveland Clinic
12.14.1 Key Facts
12.14.2 Business Description
12.14.3 Products and Services
12.14.4 Financial Overview
12.14.5 SWOT Analysis
12.14.6 Key Developments
12.15 Grand Rounds, Inc.
12.15.1 Key Facts
12.15.2 Business Description
12.15.3 Products and Services
12.15.4 Financial Overview
12.15.5 SWOT Analysis
12.15.6 Key Developments
12.16 Mass General Brigham Incorporated. (Partners Healthcare)
12.16.1 Key Facts
12.16.2 Business Description
12.16.3 Products and Services
12.16.4 Financial Overview
12.16.5 SWOT Analysis
12.16.6 Key Developments
12.17 Stanford Health Care
12.17.1 Key Facts
12.17.2 Business Description
12.17.3 Products and Services
12.17.4 Financial Overview
12.17.5 SWOT Analysis
12.17.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 2. North America Medical Second Opinion Market, by Service Provider – Revenue and Forecast to 2027 (USD Million)
Table 3. US Medical Second Opinion Market, by Disorder – Revenue and Forecast to 2027 (USD Million)
Table 4. US Medical Second Opinion Market, by Service Provider – Revenue and Forecast to 2027 (USD Million)
Table 5. Canada Medical Second Opinion Market, by Disorder – Revenue and Forecast to 2027 (USD Million)
Table 6. Canada Medical Second Opinion Market, by Service Provider – Revenue and Forecast to 2027 (USD Million)
Table 7. Mexico Medical Second Opinion Market, by Disorder – Revenue and Forecast to 2027 (USD Million)
Table 8. Mexico Medical Second Opinion Market, by Service Provider – Revenue and Forecast to 2027 (USD Million)
Table 9. Europe Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 10. Europe Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 11. Germany Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 12. Germany Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 13. UK Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 14. UK Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 15. France Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 16. France Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 17. Spain Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 18. Spain Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 19. Italy Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 20. Italy Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 21. Asia Pacific Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 22. Asia Pacific Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
Table 23. China Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 24. China Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 25. Japan Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 26. Japan Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 27. India Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 28. India Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 29. South Korea Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 30. South Korea Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
Table 31. Australia Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 32. Australia Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 33. Middle East & Africa Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 34. Middle East & Africa Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
Table 35. UAE Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 36. UAE Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 37. Saudi Arabia Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 38. Saudi Arabia Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
Table 39. South Africa Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 40. South Africa Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
Table 41. South and Central America Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 42. South and Central America Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027 (USD Million)
Table 43. Brazil Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 44. Brazil Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 45. Argentina Medical Second Opinion Market, by Disorders – Revenue and Forecast to 2027 (USD Million)
Table 46. Argentina Medical Second Opinion Market, by Service Providers– Revenue and Forecast to 2027(USD Million)
Table 47. Recent Inorganic Growth Strategies in the Medical Second Opinion Market
Table 48. Recent Organic Growth Strategies in The Medical Second Opinion Market
Table 49. Glossary of Terms, Medical Second Opinion Market
LIST OF FIGURES
Figure 1. Medical Second Opinion Market Segmentation
Figure 2. Medical Second Opinion Market, By Region
Figure 3. Medical Second Opinion Market Overview
Figure 4. Cancer Held Largest Share of Medical Second Opinion Market in 2019
Figure 5. Medical Second Opinion Market in Asia Pacific Region to Show Remarkable Growth During Forecast Period
Figure 6. Global Medical Second Opinion Market, By Geography (US$ Million)
Figure 7. Global Medical Second Opinion Market- Leading Country Markets (US$ Million)
Figure 8. Global Medical Second Opinion Market, Industry Landscape
Figure 9. North America PEST Analysis
Figure 10. Europe PEST Analysis
Figure 11. Asia pacific PEST Analysis
Figure 12. Middle East & Africa PEST Analysis
Figure 13. South and central America PEST Analysis
Figure 14. Medical Second Opinion Market impact analysis of driver and restraints
Figure 15. Global Medical Second Opinion Market– Revenue Forecast and Analysis – 2019- 2027
Figure 16. Global Medical Second Opinion Market– By Geography Forecast and Analysis – 2019- 2027
Figure 17. Market Positioning of Key Players in Global Medical Second Opinion Market
Figure 18. Medical Second Opinion Market Share, by Disorder, 2019 and 2027 (%)
Figure 19. Cancer: Medical Second Opinion Market– Revenue and Forecast to 2027 (US$ Million)
Figure 20. COPD: Medical Second Opinion Market– Revenue and Forecast to 2027 (US$ Million)
Figure 21. Cardiac Disorders: Medical Second Opinion Market– Revenue and Forecast to 2027 (US$ Million)
Figure 22. Neurological Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Nephrological Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Hematological Blood Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Orthopedic Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Organ Transplant: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Other Disorders: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Medical Second Opinion Market Share, by Service Provider, 2019 and 2027 (%)
Figure 29. Hospitals Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 30. Health Insurance Companies: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 31. Online Services: Medical Second Opinion Market – Revenue and Forecast to 2027 (US$ Million)
Figure 32. North America: Medical Second Opinion Market, by Key Country – Revenue (2019) (USD Million)
Figure 33. North America Medical Second Opinion Market Revenue and Forecast to 2027 (USD Million)
Figure 34. North America: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
Figure 35. US: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 36. Canada: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 37. Mexico: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 38. Europe: Medical Second Opinion Market, by Key Country – Revenue (2019) (USD Million)
Figure 39. Europe Medical Second Opinion Market Revenue and Forecast to 2027 (USD Million)
Figure 40. Europe: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
Figure 41. Germany: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 42. UK: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 43. France: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 44. Spain: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 45. Italy: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 46. Asia Pacific: Medical Second Opinion Market, by Key Country – Revenue (2019) (USD Million)
Figure 47. Asia Pacific Medical Second Opinion Market Revenue and Forecast to 2027 (USD Million)
Figure 48. Asia Pacific: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
Figure 49. China: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 50. Japan: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 51. India: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 52. South Korea: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 53. Australia: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 54. Middle East & Africa: Medical Second Opinion Market, by Key Country – Revenue (2019) (USD Million)
Figure 55. Middle East & Africa Medical Second Opinion Market Revenue and Forecast to 2027 (USD Million)
Figure 56. Middle East & Africa: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
Figure 57. UAE: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 58. Saudi Arabia: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 59. South Africa: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 60. South and Central America: Medical Second Opinion Market, by Key Country – Revenue (2019) (USD Million)
Figure 61. South and Central America Medical Second Opinion Market Revenue and Forecast to 2027 (USD Million)
Figure 62. South and Central America: Medical Second Opinion Market, by Country, 2019 & 2027 (%)
Figure 63. Brazil: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 64. Argentina: Medical Second Opinion Market – Revenue and Forecast to 2027 (USD Million)
Figure 65. Impact of COVID-19 Pandemic in North American Country Markets
Figure 66. Impact of COVID-19 Pandemic in European Country Markets
Figure 67. Impact of COVID-19 Pandemic in Asia-Pacific Country Markets
Figure 68. Impact Of COVID-19 Pandemic in Rest of the World Countries Market
Figure 69. Growth Strategies in The Medical Second Opinion Market, 2015-2021
The List of Companies - Medical Second Opinion Market
- Medisense Healthcare Solutions Pvt. Ltd.
- Second Opinion International
- Elite Medical Services
- Cigna
- Helsana
- WorldCare
- Vidal Health Insurance TPA Pvt Ltd
- Medix
- 2nd.MD
- AXA
- Teladoc Health, Inc
- DoctorSpring Pvt. Ltd
- USARAD Holdings Inc (SecondOpinions.com)
- Cleveland Clinic
- Grand Rounds, Inc.
- Mass General Brigham Incorporated. (Partners Healthcare)
- Stanford Health Care
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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