Product Code: TIPRE00025236
The European medical second opinion market is projected to grow significantly, reaching approximately USD 4,714.17 million by 2031, up from USD 1,652.44 million in 2023, with a compound annual growth rate (CAGR) of 14.0% during the forecast period.
Executive Summary and Market Analysis
The growth of the medical second opinion market in Europe is driven by several factors, including the rising incidence of chronic diseases and an increase in healthcare fraud cases. The market benefits from a favorable regulatory environment, the presence of local players, and a growing number of clinics that offer second-opinion services.
Market Segmentation
The market can be segmented based on medical conditions and service providers.
1. By Condition: The market is divided into several categories, including cancer, orthopedic disorders, cardiac disorders, neurological disorders, nephrological disorders, hematological disorders, chronic obstructive pulmonary disease (COPD), organ transplants, and others. Notably, the cancer segment accounted for the largest market share in 2023.
2. By Service Provider: The market is also segmented by service providers, which include hospitals, health insurance companies, and online services. In 2023, hospitals held the largest share of this segment.
Market Outlook
Medical second opinions are crucial for providing patients with comprehensive information regarding their treatment options. They help clarify the confusion that may arise from multiple treatment recommendations for a single condition. Additionally, obtaining a second opinion can validate diagnoses, thereby enhancing treatment accuracy. The emphasis on improving treatment outcomes is a significant driver of market growth. Given the potential adverse effects of various treatments, obtaining a second opinion from a qualified healthcare professional is essential, especially in critical cases. According to the World Health Organization (WHO), unsafe medical practices contribute to over 3 million deaths annually worldwide. In 2022, approximately 9.7 million cancer-related deaths were reported globally, highlighting the urgent need for accurate diagnoses and effective treatment options. The increasing prevalence of cancer and other chronic diseases is a key factor propelling the demand for medical second opinions.
Country Insights
The European medical second opinion market includes several countries, notably Germany, the UK, France, Italy, Spain, and others. Germany was the leading market in 2023.
In Germany, the market is expected to expand significantly due to the rising rates of chronic diseases, particularly cancer, which is a leading cause of morbidity and mortality. The WHO reported 628,519 new cancer cases and 252,065 cancer-related deaths in Germany in 2020. This alarming trend has led to a heightened demand for accurate diagnostics and treatment options, prompting cancer patients to seek second opinions more frequently.
The German government has recognized the importance of second opinions in healthcare. The "Charter of Patients' Rights in Germany" ensures that patients have the right to seek a second medical opinion, mandating that healthcare providers cooperate with such requests. Notable healthcare providers in Germany, such as IMC Intermed-Consult, offer comprehensive services for international patients seeking second opinions. Additionally, Germany Health provides evaluations from independent medical experts for various conditions, including cancer and orthopedic surgeries.
Local market players are also contributing to the growth of the medical second opinion market in Germany. For instance, the Clinic of Friedrichshafen has introduced a tele-counseling service that allows international patients to access valuable information and alternative treatment options affordably.
Company Profiles
Key players in the European medical second opinion market include Second Opinion International, Elite Medical Services, The Cigna Group, Helsana, WorldCare, Vidal Health Insurance TPA Pvt Ltd, 2nd.MD, Axa SA, Teladoc Health Inc, Included Health, Inc., and Royal Doctors, among others. These companies are employing various strategies, including expansion, product innovation, and mergers and acquisitions, to enhance their offerings and increase their market presence.
Table Of Contents
1. Introduction
- 1.1 Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
- 2.1 Key Insights
- 2.2 Market Attractiveness
3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:
4. Europe Medical Second Opinion Market - Key Market Dynamics
- 4.1 Market Drivers
- 4.1.1 Growing Emphasis on Better Treatment Outcomes
- 4.1.2 Increasing Preference for Healthcare Cost Optimization
- 4.2 Market Restraints
- 4.2.1 Lack of Awareness and Reluctance Toward Adoption of Medical Second Opinion in Emerging Nations
- 4.3 Market Opportunities
- 4.3.1 Rising Collaborations in Telemedicine Technologies
- 4.4 Future Trends
- 4.4.1 Digitalization of Medical Consulting Services
- 4.5 Impact of Drivers and Restraints:
5. Medical Second Opinion Market - Europe Analysis
- 5.1 Europe Medical Second Opinion Market Revenue (US$ Million), 2021-2031
- 5.2 Europe Medical Second Opinion Market Forecast Analysis
6. Europe Medical Second Opinion Market Analysis - by Condition
- 6.1 Cancer
- 6.1.1 Overview
- 6.1.2 Cancer: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.2 Orthopedic Disorders
- 6.2.1 Overview
- 6.2.2 Orthopedic Disorders: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.3 Cardiac Disorders
- 6.3.1 Overview
- 6.3.2 Cardiac Disorders: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.4 Neurological Disorders
- 6.4.1 Overview
- 6.4.2 Neurological Disorders: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.5 Nephrological Disorders
- 6.5.1 Overview
- 6.5.2 Nephrological Disorders: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.6 Hematological Blood Disorders
- 6.6.1 Overview
- 6.6.2 Hematological Blood Disorders: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.7 COPD
- 6.7.1 Overview
- 6.7.2 COPD: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.8 Organ Transplant
- 6.8.1 Overview
- 6.8.2 Organ Transplant: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.9 Others
- 6.9.1 Overview
- 6.9.2 Others: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
7. Europe Medical Second Opinion Market Analysis - by Service Provider
- 7.1 Hospitals
- 7.1.1 Overview
- 7.1.2 Hospitals: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 7.2 Health Insurance Companies
- 7.2.1 Overview
- 7.2.2 Health Insurance Companies: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 7.3 Online Services
- 7.3.1 Overview
- 7.3.2 Online Services: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
8. Europe Medical Second Opinion Market - Country Analysis
- 8.1 Europe
- 8.1.1 Europe Medical Second Opinion Market Overview
- 8.1.2 Europe Medical Second Opinion Market - Revenue and Forecast Analysis - by Country
- 8.1.2.1 Europe Medical Second Opinion Market - Revenue and Forecast Analysis - by Country
- 8.1.2.2 Germany: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.1.2.2.1 Germany: Europe Medical Second Opinion Market Share - by Condition
- 8.1.2.2.2 Germany: Europe Medical Second Opinion Market Share - by Service Provider
- 8.1.2.3 United Kingdom: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.1.2.3.1 United Kingdom: Europe Medical Second Opinion Market Share - by Condition
- 8.1.2.3.2 United Kingdom: Europe Medical Second Opinion Market Share - by Service Provider
- 8.1.2.4 France: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.1.2.4.1 France: Europe Medical Second Opinion Market Share - by Condition
- 8.1.2.4.2 France: Europe Medical Second Opinion Market Share - by Service Provider
- 8.1.2.5 Italy: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.1.2.5.1 Italy: Europe Medical Second Opinion Market Share - by Condition
- 8.1.2.5.2 Italy: Europe Medical Second Opinion Market Share - by Service Provider
- 8.1.2.6 Spain: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.1.2.6.1 Spain: Europe Medical Second Opinion Market Share - by Condition
- 8.1.2.6.2 Spain: Europe Medical Second Opinion Market Share - by Service Provider
- 8.1.2.7 Rest of Europe: Europe Medical Second Opinion Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.1.2.7.1 Rest of Europe: Europe Medical Second Opinion Market Share - by Condition
- 8.1.2.7.2 Rest of Europe: Europe Medical Second Opinion Market Share - by Service Provider
9. Industry Landscape
- 9.1 Overview
- 9.2 Growth Strategies in Medical Second Opinion Market
- 9.3 Organic Growth Strategies
- 9.4 Inorganic Growth Strategies
10. Company Profiles
- 10.1 Second Opinion International
- 10.1.1 Key Facts
- 10.1.2 Business Description
- 10.1.3 Products and Services
- 10.1.4 Financial Overview
- 10.1.5 SWOT Analysis
- 10.1.6 Key Developments
- 10.2 Elite Medical Services
- 10.2.1 Key Facts
- 10.2.2 Business Description
- 10.2.3 Products and Services
- 10.2.4 Financial Overview
- 10.2.5 SWOT Analysis
- 10.2.6 Key Developments
- 10.3 The Cigna Group
- 10.3.1 Key Facts
- 10.3.2 Business Description
- 10.3.3 Products and Services
- 10.3.4 Financial Overview
- 10.3.5 SWOT Analysis
- 10.3.6 Key Developments
- 10.4 Helsana
- 10.4.1 Key Facts
- 10.4.2 Business Description
- 10.4.3 Products and Services
- 10.4.4 Financial Overview
- 10.4.5 SWOT Analysis
- 10.4.6 Key Developments
- 10.5 WorldCare
- 10.5.1 Key Facts
- 10.5.2 Business Description
- 10.5.3 Products and Services
- 10.5.4 Financial Overview
- 10.5.5 SWOT Analysis
- 10.5.6 Key Developments
- 10.6 Vidal Health Insurance TPA Pvt Ltd
- 10.6.1 Key Facts
- 10.6.2 Business Description
- 10.6.3 Products and Services
- 10.6.4 Financial Overview
- 10.6.5 SWOT Analysis
- 10.6.6 Key Developments
- 10.7 2nd.MD
- 10.7.1 Key Facts
- 10.7.2 Business Description
- 10.7.3 Products and Services
- 10.7.4 Financial Overview
- 10.7.5 SWOT Analysis
- 10.7.6 Key Developments
- 10.8 Axa SA
- 10.8.1 Key Facts
- 10.8.2 Business Description
- 10.8.3 Products and Services
- 10.8.4 Financial Overview
- 10.8.5 SWOT Analysis
- 10.8.6 Key Developments
- 10.9 Teladoc Health Inc
- 10.9.1 Key Facts
- 10.9.2 Business Description
- 10.9.3 Products and Services
- 10.9.4 Financial Overview
- 10.9.5 SWOT Analysis
- 10.9.6 Key Developments
- 10.10 Included Health, Inc.
- 10.10.1 Key Facts
- 10.10.2 Business Description
- 10.10.3 Products and Services
- 10.10.4 Financial Overview
- 10.10.5 SWOT Analysis
- 10.10.6 Key Developments
- 10.11 Royal Doctors
- 10.11.1 Key Facts
- 10.11.2 Business Description
- 10.11.3 Products and Services
- 10.11.4 Financial Overview
- 10.11.5 SWOT Analysis
- 10.11.6 Key Developments
11. Appendix
- 11.1 About Us
- 11.2 List of Abbreviations