North America Medical Second Opinion Market

North America Medical Second Opinion Market Size (2024 to 2032):

The size of the North America medical second opinion market was worth USD 1.65 billion in 2023. The North American market is anticipated to grow at a CAGR of 17.96% from 2024 to 2032 and be worth USD 7.28 billion by 2032 from USD 1.94 billion in 2024.

MARKET SCENARIO

The rising preference for healthcare cost optimization, as well as increased awareness among people, lower financial costs, and ease of interaction, rising superior treatment outcomes, rising prevalence of diseases due to lifestyle changes, rising number of hospitals, and increasing population, are among the major factors driving the North America medical second opinion market growth. The most fundamental and yet most essential stage in a patient's treatment method is disease diagnosis. The majority of patients experience an incorrect diagnosis of their condition, leaving some vulnerable to life-threatening effects. Growing cynicism about surgical procedures is a significant element driving the medical second opinion services market forward. Increasing healthcare-related expenses necessitates healthcare cost optimization due to a general scarcity of healthcare experts and restricted resource availability. In addition, the market for second medical opinions is being driven by a growing emphasis on reducing extra expenses and increased awareness about possible exploitation by healthcare institutions.

Increasing investments in telemedicine technologies, rising modernization and technical improvement in the healthcare sector, and expanding R&D activities in the industry will all help to generate new opportunities for the North American medical second opinion market. In addition, increased exposure to risk factors including cigarette smoking, binge drinking, poor nutrition, and obesity is predicted to accelerate the growing cancer prevalence. Many organizations in the region help people receive a second opinion, such as WorldCare International Inc., which matches members with teams of specialists that collaborate to confirm diagnoses, evaluate treatment plans, answer questions, and provide prompt, independent second views. In recent years, a growing gap between people and doctors has driven many people to seek a second opinion before undertaking major surgical procedures.

The market's growth is hindered by a lack of knowledge and anxiety in this nation about seeking medical second opinions. One of the most important difficulties that the industries are facing today is the flitting patient who moves from one doctor to another, receiving a variety of opinions that are sometimes conflicting. Because there is no one doctor in charge of the therapy, they are free to accept whatever advice they give. This is one of the major challenges for the North America Medical Second Opinion Market.

SEGMENTAL ANALYSIS

North America Medical Second Opinion Market Analysis By Disease

• Cancer
• Cardiac Disorders
• Diabetes
• Injuries

North America Medical Second Opinion Market Analysis By Supply Provider

• Hospitals
• Health Insurance Players
• Online and Offline Medical Second Opinion Providers
• Private clinics

GEOGRAPHICAL ANALYSIS

• The United States
• Canada
• Rest of North America

Geographically, the United States leads the North American Medical Second Opinion market along with Canada due to a large number of companies in this market and increasing investments from the government. Due to a highly aware population, modern healthcare infrastructure, and favorable government efforts, North America dominated the medical second opinion market in 2022 and is expected to continue during the forecast period. The rising trend in second opinion medical services, owing to the financial, physical, and legal expenses involved with treatments, is one of the most important drivers. In addition, due to growing consumer demand for healthcare and more public awareness, the medical second opinion business is anticipated to grow.

KEY MARKET PLAYERS

A few promising companies operating in the North American Medical Second Opinion market are Amradnet, London Pain Clinic, Johns Hopkins USA, Cynergy Care, Bright Grey Royal London Group, Helsana Group, Mendocino County Mental Health, Hyjiya Digital Wellness FZCO, and Penn Medicine.