Medical Second Opinion Market Overview
Medical second opinion regarding a patient’s disease, diagnosis of the disease and treatment option is highly recommended in recent times. It is estimated that the medical second opinion market will reach USD 9751.58 million in revenue and a growth rate of 15.8% between the period 2020 to 2027.
It becomes easier for the patients to identify the diagnosis for the particular disease and review the treatment advised to them. In addition to that, the patients are also recommended to move forward. When the patient is confused or unsure about the treatment, he can seek a second option. The second option is taken from the different doctors who have the specialization. Covid 19 has a surging effect on the medical second opinion market as, during the pandemic, people were interested in taking the second option regarding the treatment.
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The improvement in diagnosis management and better planning choices for medical necessities boost the market growth. The continuous medical blunders and failures will create ample growth opportunities for the market. A medical second option is not allowed in several regions; for instance, underdeveloped nations like Africa do not allow patients to take the option, hindering the market size. The patients consulting different physicians and experiencing contradictory opinions is a challenge for the market to overcome soon.
Medical Second Opinion Market Segmentaion
The medical second opinion market is classified based on providers, services, applications, and sources. The market trends are expected to increase the market’s growth in the forecast period. Based on the application, the market is divided into neurological disorder, respiratory disorder, cancer, diabetes, cardiac disorder, ocular disorder, a pulmonary disorder, and nephrological disorder. The service segment is bifurcated into Medical Condition Management, Post-Acute Care Nursing, Medical Peer Review Services and each segment will contribute to the overall growth of the market. Based on the provider, the market variables are Hospital Physicians/Specialties, Online Physicians Portal, Medical Second Opinion Companies, Health Insurance Companies. The Medical Second Opinion Market is segregated into In-house and Outsourced.
Medical Second Opinion Market Regional analysis
The medical second opinion market is studied in Europe, America, Asia, the pacific middle east and Africa. America dominates the market and is expected to increase the market shar in the forecast period as America is the prominent commercial area. The diagnosis of diseases is better in the area. In the future, the region will experience 17,62,450 new cancer cases, which will positively impact the market. The region’s population arranges their treatment ahead of time, which is also a driving factor for the market. Europe is in the second position of the market due to the growth of medical malpractice. The rise of medical mistakes in the region is expected to rise large market in the region. The Asia Pacific is showcasing a significant growth rate due to the rising economy throughout the area. Patients suffering from long-term medical issues such s diabetes or cancer are expected to seek the help of the second option rising the medical second opinion market growth.
Top key players in the global medical second opinion market are
- 2nd MD (Houston)
- Cleveland Clinic MyConsult
- Partners Healthcare
- SecondOpinionExpert, Inc. (California)
- DoctorSpring (California)
- HCA Hospitals (US)
- Teladoc Health, Inc., (US)
- Amradnet (US)
- Johns Hopkins Medicine
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The first unique telemedicine platform pyramid has announced a tie-up with doctors in rural places to bring second opinion services for patients.
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