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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

7.1. Introduction
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
8.1. Introduction
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

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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, 20142020 ($M)
Table 4 Global Medical Second Opinion Market Revenue for Cancer, By, By Geography, 20142020 ($M)
Table 5 Global Medical Second Opinion Market Revenue for Diabetes, By Service Providers, 20142020 ($M)
Table 6 Global Medical Second Opinion Market Revenue for Diabetes, By, By Geography, 20142020 ($M)
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
Providers, 2014-2020 ($M)
Table 10 Global Medical Second Opinion Market Revenue for Neurological disorders, By, By
Geography, 2014-2020 ($M)
Table 11 Global Medical Second Opinion Market Revenue for Ocular disorders, By Service
Providers, 2014-2020 ($M)
Table 12 Global Medical Second Opinion Market Revenue for Ocular disorders, By, By Geography,
2014-2020 ($M)
Table 13 Global Medical Second Opinion Market Revenue for Pulmonary disorders, By Service
Providers, 2014-2020 ($M)
Table 14 Global Medical Second Opinion Market Revenue for Pulmonary disorders, By, By
Geography, 2014-2020 ($M)
Table 15 Global Medical Second Opinion Market Revenue for Nephrological disorders, By Service
Providers, 2014-2020 ($M)
Table 16 Global Medical Second Opinion Market Revenue for Nephrological disorders, By, By
Geography, 2014-2020 ($M)

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Table 17 Global Medical Second Opinion Market Revenue for Allergies, By Service Providers,
2014-2020 ($M)
Table 18 Global Medical Second Opinion Market Revenue for Allergies, By, By Geography, 20142020 ($M)
Table 19 Global Medical Second Opinion Market Revenue for Injuries, By Service Providers, 20142020 ($M)
Table 20 Global Medical Second Opinion Market Revenue for Injuries, By, By Geography, 20142020 ($M)
Table 21 Global Medical Second Opinion Market Revenue for Other disorders, By Service
Providers, 2014-2020 ($M)
Table 22 Global Medical Second Opinion Market Revenue for Other disorders, By, By Geography,
2014-2020 ($M)
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,
2014-2020 ($M)
Table 26 Global Medical Second Opinion Market Revenue from Medical Second Opinion
Providing Companies, By Disease, 2014-2020 ($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 ($M)
Table 30 Global Medical Second Opinion Market Revenue from Online Services, By Disease, 20142020 ($M)
Table 31 Global Medical Second Opinion Market Revenue from Online Services, By Geography,
2014-2020 ($M)
Table 32 Global Medical Second Opinion Market Revenue from Other Service Providers, By
Disease, 2014-2020 ($M)

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Table 33 Global Medical Second Opinion Market Revenue from Other Service Providers, By
Geography, 2014-2020 ($M)
Table 34 Global Medical Second Opinion Market Revenue, By Geography, 2014-2020 ($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 patients 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,

2014-2020 ($M)
Region

2014

2015

2016

Americas
xx
xx
xx
Europe
xx
xx
xx
APAC
xx
xx
xx
RoW
xx
xx
xx
Total
xx
xx
xx
Source: IndustryARC Analysis, Expert Insights

2017

2018

2019

2020

CAGR%
(20152020)

xx
xx
xx
xx
xx

xx
xx
xx
xx
xx

xx
xx
xx
xx
xx

xx
xx
xx
xx
xx

xx%
xx%
xx%
xx%
xx%

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
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
4. Build the
Analytical Model
ANALYTICAL MODEL

Base Method

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

4. Build the Base

model
BASE MODEL

Consolidation
Method
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.
4. Build the
Consolidated
Model

Delphi
Verification
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. Finalize the
ARC Model

CONSOLIDATED MODEL

ARC MODEL

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