Global Medical Second Opinion Market (2014-2020)

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IndustryARC 

Global Medical Second Opinion Market (2014-2020) 

By Disease (Cancer, Cardiac Disorders, Diabetes, Injuries and Others); By Service 

Providers (Hospitals, Online and Offline Medical Second Opinion Providers and Health 

Insurance Players) & By Geography



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TABLE OF CONTENTS 

1. Global Medical Second Opinion Market Overview 

2. Executive Summary 

3. Global Medical Second Opinion Market Landscape 

3.1. Market share Analysis 

3.2. Comparative Analysis 

3.2.1. Product Benchmarking 

3.2.2. End-User Profiling 

3.2.3. Patent Analysis 

3.2.4. Top 5 Financial Analysis 

4. Global Medical Second Opinion - Market Forces 

4.1. Market Drivers 

4.2. Market Constraints 

4.3. Market Challenges 

4.4. Attractiveness of the Industry 

4.4.1. Power of Suppliers 

4.4.2. Power of Customers 

4.4.3. Threat of New entrants 

4.4.4. Threat of Substitution 

4.4.5. Degree of Competition 

5. Global Medical Second Opinion Market – Strategic Analysis 

5.1. Value Chain Analysis 

5.2. Pricing Analysis 

5.3. Opportunity Analysis



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5.4. Product Life Cycle Analysis 

5.5. Suppliers & Distributors 

6. Global Medical Second Opinion Market – By Disorders 

6.1. Introduction 

6.2. Cancer 

6.3. Diabetes 

6.4. Cardiac disorders 

6.5. Neurological disorders 

6.6. Ocular disorders 

6.7. Pulmonary disorders 

6.8. Nephrological disorders 

6.9. Allergies 

6.10. Injuries 

6.11. Others 

7. Global Medical Second Opinion Market – By Service Providers 


7.2. Hospitals 

7.3. Medical Second Opinion Providing Companies 

7.4. Health Insurance Companies 

7.5. Online Services 

7.6. Others 

8. Global Medical Second Opinion Market – By Geography 


8.2. Americas



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8.2.1. U.S. 

8.2.2. Canada 

8.2.3. Brazil 

8.2.4. Argentina 

8.2.5. Others 

8.2.6. Europe 

8.2.7. U.K. 

8.2.8. Germany 

8.2.9. France 

8.2.10. Spain 

8.2.11. Italy 

8.2.12. Others 

8.3. APAC 

8.3.1. China 

8.3.2. Japan 

8.3.3. India 

8.3.4. Australia 

8.3.5. Others 

8.4. RoW 

8.4.1. Middle East 

8.4.2. Africa 

9. Market Entropy 

9.1. New Product Launches 

9.2. M&As, Collaborations, Partnerships & JVs



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10. Investment Opportunities 

11. Company Profiles 

11.1. Advance Medical 

11.2. Mediguide America 

11.3. Johns Hopkins USA 

11.4. Best Doctors 

11.5. Cleveland Clinic 

11.6. Bupa Global 

11.7. WorldCare International Inc. 

11.8. Grand Rounds 

11.9. XMRI.com 

11.10. HCA Hospitals 

11.11. Penn Medicine 

11.12. Cynergy Care 

11.13. MediAngels.com 

11.14. Medical Second Opinion Pvt. Ltd. 

11.15. UC San Diego Health System 

11.16. AXA PPP Healthcare 

12. Appendix 

12.1. Abbreviations 

12.2. Sources 

12.3. Research Methodology 

12.4. Bibliography 

12.5. Compilation of Expert Insights

12.6. Disclaimer 



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LIST OF TABLES 

Table 1 Global Medical Second Opinion Market – Pricing Analysis ($) 

Table 2 Global Medical Second Opinion Market Revenue, By Disease, 2014-2020 ($M) 

Table 3 Global Medical Second Opinion Market Revenue for Cancer, By Service Providers, 2014- 

2020 ($M) 

Table 4 Global Medical Second Opinion Market Revenue for Cancer, By, By Geography, 2014- 


Table 5 Global Medical Second Opinion Market Revenue for Diabetes, By Service Providers, 2014- 


Table 6 Global Medical Second Opinion Market Revenue for Diabetes, By, By Geography, 2014- 


Table 7 Global Medical Second Opinion Market Revenue for Cardiac disorders, By Service 

Providers, 2014-2020 ($M) 

Table 8 Global Medical Second Opinion Market Revenue for Cardiac disorders, By, By Geography, 

2014-2020 ($M) 

Table 9 Global Medical Second Opinion Market Revenue for Neurological disorders, By Service 


Table 10 Global Medical Second Opinion Market Revenue for Neurological disorders, By, By 

Geography, 2014-2020 ($M) 

Table 11 Global Medical Second Opinion Market Revenue for Ocular disorders, By Service 


Table 12 Global Medical Second Opinion Market Revenue for Ocular disorders, By, By Geography, 


Table 13 Global Medical Second Opinion Market Revenue for Pulmonary disorders, By Service 


Table 14 Global Medical Second Opinion Market Revenue for Pulmonary disorders, By, By 


Table 15 Global Medical Second Opinion Market Revenue for Nephrological disorders, By Service 


Table 16 Global Medical Second Opinion Market Revenue for Nephrological disorders, By, By 

Geography, 2014-2020 ($M)



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Table 17 Global Medical Second Opinion Market Revenue for Allergies, By Service Providers, 


Table 18 Global Medical Second Opinion Market Revenue for Allergies, By, By Geography, 2014- 


Table 19 Global Medical Second Opinion Market Revenue for Injuries, By Service Providers, 2014- 


Table 20 Global Medical Second Opinion Market Revenue for Injuries, By, By Geography, 2014- 


Table 21 Global Medical Second Opinion Market Revenue for Other disorders, By Service 


Table 22 Global Medical Second Opinion Market Revenue for Other disorders, By, By Geography, 


Table 23 Global Medical Second Opinion Market Revenue, By Service Providers, 2014-2020 ($M) 

Table 24 Global Medical Second Opinion Market Revenue from Hospitals, By Disease, 2014-2020 

($M) 

Table 25 Global Medical Second Opinion Market Revenue from Hospitals, By, By Geography, 


Table 26 Global Medical Second Opinion Market Revenue from Medical Second Opinion 

Providing Companies, By Disease, 2014-2020 ($M) 

Table 27 Global Medical Second Opinion Market Revenue from Medical Second Opinion 

Providing Companies, By, By Geography, 2014-2020 ($M) 

Table 28 Global Medical Second Opinion Market Revenue from Health Insurance Companies, By 

Disease, 2014-2020 ($M) 

Table 29 Global Medical Second Opinion Market Revenue from Health Insurance Companies, By, 

By Geography, 2014-2020 ($M) 

Table 30 Global Medical Second Opinion Market Revenue from Online Services, By Disease, 2014- 


Table 31 Global Medical Second Opinion Market Revenue from Online Services, By Geography, 


Table 32 Global Medical Second Opinion Market Revenue from Other Service Providers, By 

Disease, 2014-2020 ($M)



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Table 33 Global Medical Second Opinion Market Revenue from Other Service Providers, By 


Table 34 Global Medical Second Opinion Market Revenue, By Geography, 2014-2020 ($M) 

Table 35 Americas: Medical Second Opinion Market Revenue, By Country, 2014-2020 ($M) 

Table 36 Americas: Medical Second Opinion Market Revenue, By Disease, 2014-2020 ($M) 

Table 37 Americas: Medical Second Opinion Market Revenue, By Service Providers, 2014-2020 

($M) 

Table 38 Europe: Medical Second Opinion Market Revenue, By Country, 2014-2020 ($M) 

Table 39 Europe: Medical Second Opinion Market Revenue, By Disease, 2014-2020 ($M) 

Table 40 Europe: Medical Second Opinion Market Revenue, By Service Providers, 2014-2020 ($M) 

Table 41 APAC: Medical Second Opinion Market Revenue, By Country, 2014-2020 ($M) 

Table 42 APAC: Medical Second Opinion Market Revenue, By Disease, 2014-2020 ($M) 

Table 43 APAC: Medical Second Opinion Market Revenue, By Service Providers, 2014-2020 ($M) 

Table 44 RoW: Medical Second Opinion Market Revenue, By Country, 2014-2020 ($M) 

Table 45 RoW: Medical Second Opinion Market Revenue, By Disease, 2014-2020 ($M) 

Table 46 RoW: Medical Second Opinion Market Revenue, By Service Providers, 2014-2020 ($M)



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LIST OF FIGURES 

Figure1 Global Medical Second Opinion Market, By Geography, 2014 - 2020 ($M) 

Figure2 Segmentation of Global Medical Second Opinion Market 

Figure3 Global Medical Second Opinion Market Competitive Share Analysis, 2014(%) 

Figure4 Global Medical Second Opinion Market Share, By Disease, 2014 (%) 

Figure5 Global Medical Second Opinion Market Share, By Service Providers, 2014 (%) 

Figure6 Global Medical Second Opinion Market Share, By Geography, 2014 (%) 

Figure7 Americas Medical Second Opinion Market Share, By Country, 2014 (%) 

Figure8 Europe Medical Second Opinion Market Share, By Country, 2014 (%) 

Figure9 APAC Medical Second Opinion Market Share, By Country, 2014 (%) 

Figure10 RoW Medical Second Opinion Market Share, By Country, 2014 (%) 

Figure11 Global Medical Second Opinion Market Recent Developments, By Year, 2012-2015



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1. GLOBAL MEDICAL SECOND OPINION MARKET 

OVERVIEW 

1.1 REPORT SCOPE 

The global market for medical second opinion has been segmented by the types of disorders, and 

the service providers. The major diseases or conditions the patient seeks medical second opinion are 

cancer, diabetes, heart and disorders, diseases pertaining to kidneys and liver, allergies and injuries 

resulting from accidents and so on. Medical second opinion services are mainly provided by 

hospitals, private medical second opinion providing companies, health insurance companies and 

online service providers. Each of these segmentations has been studied to give a comprehensive 

analysis of the global medical second opinion market. 

The overall market has also been presented from the perspective of different geographic locations 

into standard geographic regions and key economies for this market. Competitive landscape for each 

of the capture technologies and storage methods is highlighted and the market players are profiled 

with attributes of company overview, financial overview, business strategies, product portfolio and 

recent developments. Market shares of the key players for 2014 are provided. The prominent players 

profiled in this report are Advance Medical, Johns Hopkins USA, Cleveland Clinic, WorldCare 

International Inc., AXA PPP Healthcare and others. 

The report contains the most detailed and in-depth segmentation and analysis of the global medical 

second opinion market during the period 2014 - 2020. 

1.2 STAKEHOLDERS 

The following are the prominent stakeholders in the global medical second opinion market. 

Hospitals and clinics 

Doctors and Healthcare professionals 

Ministry of health 

Patients 

Health insurance players 

Laboratories and Diagnostic centres 

Online and offline medical second opinion service providers 

Medical colleges and universities 

Regulatory and Legislative bodies



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2. EXECUTIVE SUMMARY 

Medical second opinion refers to a patient’s act of requesting or seeking evaluation of his health 

condition by another physician or specialist to verify and confirm the diagnosis and treatment 

prescribed by the previous physician or to know an alternative treatment plan. It is primarily sought 

after when the first physician recommends a complex/painful surgery or painful and risky 

procedures. The other situations that propel the patient to seek a medical second opinion are when 

the patients is not sure of the diagnosis or is unsatisfied with the treatment plans offered by the 

primary physician or when it is required by the insurance plan or when the physician himself 

recommends to go for it. 

The overall global medical second opinion market is currently doing well and is on the rise, which is 

estimated to rise to $X billion by 2020, growing at a CAGR of XX%. 

SAMPLE TABLE: GLOBAL MEDICAL SECOND OPINION MARKET, BY REGION, 


Region 2014 2015 2016 2017 2018 2019 2020 CAGR% 

(2015- 

2020) 

Americas xx xx xx xx xx xx xx xx% 

Europe xx xx xx xx xx xx xx xx% 

APAC xx xx xx xx xx xx xx xx% 

RoW xx xx xx xx xx xx xx xx% 

Total xx xx xx xx xx xx xx xx% 

Source: IndustryARC Analysis, Expert Insights 

The global market for Medical second opinions in 2014 is spread throughout the Americas, Europe, 

Asia-Pacific and Rest of the world. Americas occupy the largest market share of xx% in 2014. The 

global market is emerging at a steady pace with increase in the number of patients who are willing to 

take health insurance and seeking second opinions for better or alternative treatment or diagnosis. 

There have been laws emerging in the favor of patients in the U.S. such as Patient Protection and 

Affordable Care Act (PPACA) to enhance the quality and affordability of health insurance reforms 

and decrease the costs of healthcare services for individuals. The advances in telemedicine or 

mHealth help to close the gaps in healthcare by enabling the doctors to attend patient demands in a 

short span of time and eliminate the delays in treatment. The individuals are referring to the internet 

and mobile applications for second opinion before undergoing complex procedures, thereby 

opening a window of opportunity for medical second opinion services.



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SAMPLE FIGURE: GLOBAL ESTIMATED SHARE OF mHEALTH USERS IN 

SMARTPHONES, 2050 (%) 

mHEALTH 

Source: research2guidance 

mHealth refers to the seeking of medical help and information from mobile devices such as smart 

phones and tablets through internet and specially developed healthcare mobile applications offered 

online. In a survey conducted in U.S., it was discovered that more than 50% of the smartphone 

users in the U.S. research from their phone for a second opinion before undergoing treatment for 

their respective medical condition. This trend has been growing over the years, owing to the 

increasing number of smartphones sold. The soaring number of healthcare apps contributes to this 

as well. It is estimated that in 2015, there will be a total of 1,400 million smartphone users all over 

the world out of which approximately 500 million users make use of healthcare apps, which enables 

the mHealth industry to grow.



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KEY MARKET INSIGHTS 

• Medical second opinion services provided online are gaining importance and the mHealth 

technology is growing at a rapid pace due to advances in technology, enabling the patients to 

obtain second opinions without much time lapse. 

• According to data collected and published in January, 2015 from MediAngels, almost 44% of the 

patients who have been prescribed to undergo a surgery avoided it by seeking a medical second 

opinion in India. 

• A rising trend has been observed in the medical insurance reforms where the healthcare 

insurance companies themselves are propelling their clients to for a medical second opinion in 

order to save costs for any treatment or surgery which might not be necessary in the first place.



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12.3 RESEARCH METHODOLOGY 

The quantitative and qualitative data collected for the global medical second opinion market 

report is from a combination of secondary and primary sources. Research interviews were 

conducted with executives and/or mangers in the key product manufacturers and related 

organizations. These Key Opinion Leaders (KOLs) were then provided a questionnaire to gather 

quantitative and qualitative inputs on their operations, performance, strategies and views on the 

overall market, including key developments and trends. Data from interviews is consolidated, 

checked for consistency and accuracy, and the final market numbers are again validated by 

experts. The global medical second opinion market was split by diseases, service providers and 

geography based on different factors like primary and secondary sources, understanding of the 

number of companies operating in each segment and also KOL insights. 

We have used various secondary sources such as directories, articles, white papers, newsletters, 

annual reports and paid databases such as OneSource, Hoovers and Factiva to identify and 

collect information for extensive commercial study of the global medical second opinion market. 

The approach towards finding information regarding the market and forecasting has been quite 

extensive. The key players in the market and its value chain were identified through secondary 

research and their market opinions were also gathered in a similar way through telephonic 

interviews and questionnaires. Interviews with key opinion leaders such as managers and 

marketing personnel were used extensively in understanding the need and emergence of medical 

second opinion market. 

We also have extensive database of contacts which were used to conduct primary interviews and 

also to get their inputs using questionnaires.



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THE ARC ADVANTAGE 

An analytical model lies at the core of our process, ensuring logical consistency throughout 

our research. We complement the model with secondary data and interviews with industry 

experts to reflect the latest trends. With our final expert validation, we provide you with 

only the most accurate and actionable intelligence. 

THE ARC PROCESS 

Analytical 

Method 

Base Method 

Consolidation 

Method 

Delphi 

Verification 

1. Granular 

breakdown of 

drivers into 

factors 

2. Validate all 

factors in terms 

of their present 

impact on the 

market 

3. Assign weights 

to these factors in 

terms of their 

relevance and 

impact on the 

market 

1. Get a topdown 

estimate of 

the market 

2. Follow it up 

with a bottom-up 

estimate of the 

market 

3. Check 

forconsistency 

and new growth 

factors that are 

relevant over the 

next 10 Years 

1. Granular 

breakdown of 

drivers into 

factors 

2. Validate all 

factors in terms 

of their present 

impact on the 

market. 

3. Assign weights 

to these factors in 

terms of their 

relevance and 

impact on the 

market. 

1. Verify the 

findings of the 

model with 

experts from 

across the value 

chain 

2. Verify the 

findings with 

players across 

small and large 

enterprises 

3. Tweak the 

model and add 

new factors 

4. Build the 

Analytical Model 

4. Build the Base 

model 

4. Build the 

Consolidated 

Model 

4. Finalize the 

ARC Model 

ANALYTICAL MODEL BASE MODEL CONSOLIDATED MODEL ARC MODEL



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Global Medical Second Opinion Market (2014-2020)

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