The medical second opinion market is expected to reach US$ 10,739.48 million by 2027 from US$ 3,204.57 million in2019; it is estimated to grow at a CAGR of 16.8% from 2020 to 2027.
Medical second opinion isintended to provide valuable information about the patient’s current treatmentoptions. The concept plays a significant role in dealing with the confusioncreated through the recommendation of various treatment alternatives for a singlecase. Besides, the opinion is also sought to gain additional information, whichcan be helpful to improve treatment outcomes of a disease. The medical secondopinion can validate diagnosis; thus, it plays a major role in increasing theaccuracy of the treatment.The global medical second opinion market is driven byfactors such as superior treatment outcomes andincreasing preference for healthcare cost optimization. However, the lack ofawareness and reluctance toward opting for medical second opinion in emergingnations hinder the market growth. Additionally, rising investments ontelemedicine technologiesare creating growth opportunities for the market players.
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Key Market Competitors: Global Medical Second Opinion Market@
MedisenseHealthcare Solutions Pvt. Ltd.
Vidal HealthInsurance TPA Pvt Ltd
Increasing Preference for Healthcare CostOptimization
Patients across the globe are witnessing growing financial burdensimposed by healthcare services. Increasing healthcare-associated costs due tothe overall shortage of healthcare professionals and limited availability ofresources are generating need for healthcare cost optimization worldwide. Also,growing emphasis on the reduction of additional costs and increasing awarenessabout the possible exploitation from healthcare organizations, especially inlow- and middle-income countries, significantly drive the second medicalopinion market. The consumers can avail extensive information from medicalsecond opinions while making the necessary decisions about surgery or the maincase. In addition, medical second opinion providers review the recommendationsfor surgical procedures on the basis of additional medical diagnosis, analysisof existing medical records, and assessment of other therapeutic solutions asan alternative for surgery.
Reasons to Buy
Save and reducetime carrying out entry-level research by identifying the growth, size, leadingplayers and segments in the medical second opinion market.
Highlights keybusiness priorities in order to assist companies to realign their business strategies.
The keyfindings and recommendations highlight crucial progressive industry trends inthe global medical second opinion market, thereby allowingplayers across the value chain to develop effective long-term strategies.
Develop/modifybusiness expansion plans by using substantial growth offering developed andemerging markets.
Scrutinizein-depth global market trends and outlook coupled with the factors driving themarket, as well as those hindering it.
Enhance thedecision-making process by understanding the strategies that underpin securityinterest with respect to client products, segmentation, pricing anddistribution.
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