Global Medical Second Opinion Market Size Inflates as Multi-consulting Becomes a Trend, Says Fairfield Market Research

Cancer Diagnostics and Treatment to Create the Maximum Demand

London, May 18, 2023 (GLOBE NEWSWIRE) -- The openness of consumers toward consulting with more than one specialist doctors is predominantly driving the growth of the medical second opinion market. Consumers today are cautious about their financial burden management and prefer to look for alternatives to any recommended (expensive) diagnostic procedure, treatment, surgery, or any other health services. This strengthens the case for the global medical second opinion market. Moreover, there has been a notable increase in medical billing errors over the recent past. While this may create an expert’s need to eliminate the error, it is anticipated that the medical second opinion will penetrate faster in the years to come. A new study of Fairfield Market Research dives deep into what drives demand for second opinion, and how the market will shape up in the years to come.

Despite a strong growth outlook drawn for the medical second opinion market, challenges exist in the form of severe lack of awareness among public, especially across the major developing, and fast-developing regional pockets. This will be a significant pull factor for the market in long run,” remarks an analyst at Fairfield.

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Insights into Segmentation Analysis

Contemporary medicine has been reflecting greater complexities, especially across the sub-specialization areas. While this is establishing a strong base for the expansion of medical second opinion market space, preliminary research finds that cancer patients are more likely to seek a second opinion as compared to any other medical condition. The alarming rates of prevalence and severity of cancers compels at a point to have subsequent medical opinions during the course of their respective treatment plans. Oncology diagnostics and treatment will most likely continue to be the leading segment, whereas the other prominent categories include cardiology, organ transplant, neurology, orthopedics, nephrology, and hematology.

Insights into Regional Analysis

The US has been reaping the first mover’s advantage, especially when it comes to healthcare IT. While North America currently holds a lion’s share of the global medical second opinion market valuation, the trend will most likely prevail through the end of this decade, 2030. Led by the US, the market here is expected to gain majorly from the availability and accessibility of superior healthcare infrastructure, greater patient awareness, and supportive governments. The favorable reimbursement scenario involving initiatives like Medicare are likely to contribute a significant bit to North America’s lead in the medical second opinion market. With more healthcare IT start-ups shaping up across North America, the market for medical second opinion expects to display exceptional performance in the region.

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Medical Second Opinion Industry Players

AXA PPP Healthcare, WorldCare Inc., Mediguide International LLC, Cleveland Clinic, Teladoc Health, Lybrate, GrandOpinion, Partners HealthCare System Inc., Helsana Group, Grand Rounds Inc., Cynergy Care

Key Elements Included In The Study: Global Medical Second Opinion Market

  • Medical Second Opinion Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.


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