Digitalization of Medical Consulting Services to be Prominent Trend in Medical Second Opinion Market
According to our new research study of “Medical Second Opinion Market to 2027 - COVID-19 Impact & Global Analysis and Forecasts by Disorders (Cancer, Orthopedic Disorders, Cardiac Disorders, Neurological Disorders, Nephrological Disorders, Hematologic Blood Disorders, COPD, Organ transplant, Others); Service Providers (Hospitals, Health Insurance Companies, Online Services), and Geography,” the market is expected to reach US$ 10,739.48 Mn by 2027 from US$ 3,204.57 Mn in 2019; it is estimated to grow at a CAGR of 16.8% from 2020 to 2027. The report highlights trends prevailing in the global medical second opinion market along with drivers and hindrances pertaining to the market growth.
Extensively increasing integration of medical services and digital platforms is leading to increasing popularity and acceptance of digital consultation. The digital consultation ensures patient convenience, improved patient experience, and effective cost management. Further, the deployment of digital platform enables patient to be consulted from remote locations with superior accessibility to medical expertise. Rising number of partnerships and collaborations among software developing companies and healthcare institutions is accelerating the digitalization of medical consulting services. For instance, in July 2019, University of Chicago Medicine launched remote second opinion services in collaboration with PinnacleCare, one of the key healthcare advisory companies. The system offers remote health consultation beyond geographic boundaries. Thus, the growing digitalization of medical second opinion services is estimated to offer lucrative opportunities to the market players.
The global medical second opinion market is segmented on the basis of region into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. North America held the largest market share in 2019. The factors fueling the market in this region include increasing prevalence of chronic disorders and growing adoption of medical second opinion to increase treatment accuracy.
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); and Stanford Health Care are among the leading companies operating in the medical second opinion market.
The report analyzes medical second opinion market on the basis of following segments:
By Disorder
By Service Provider
By Geography
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