As the term suggests, Medical Second Opinion is 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 mainly sought after the first physician recommending 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.
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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
While studying the Medical Second Opinion Market, a survey was conducted in the U.S. and it was discovered that more than 50% of the smartphone users in that region research from their phone for a second opinion before obeying the first physician for their respective medical information. 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 will further enhance the mHealth Industry.
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According to IndustryARC, the Global Medical Second Opinion Market is forecasted touch $X Billion by 2020, growing at a CAGR of XX%. It was noted that, Americas occupied the largest market share of xx% in 2014.
Medical Second Opinion Services Market Online are blooming at a good pace and the mHealth Technology is also witnessing success due to the advances in technology; enabling the patients to obtain second opinions without much time lapse.
In the data collected and published in January, 2015, MediAngels, almost 44% of the patients who were prescribed to undergo a surgery avoided it by seeking a Medical Second Opinion in India. This trend has been growing over the years.
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.
Market Segmentation: The Medical Second Opinion Market is segmented into 3 broad types with further sub segmentations. The factors for classification being:
- By Disorders: Cancer, Diabetes, Cardiac Disorders and Others.
- By Service Providers: Hospitals, Health Insurance Companies, Online Services and Others.
- By Geography: Americas, APAC and ROW.
- Advance Medical
- Mediguide America
- Johns Hopkins USA
- Best Doctors
- Cleveland Clinic
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