At 8.6% CAGR, the Middle East & Africa Medical Second Opinion Market is Speculated to be Worth US$ 215.90 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa medical second opinion market was valued at US$ 111.86 in 2023 and is expected to reach US$ 215.90 million by 2031, registering a CAGR of 8.6% from 2023 to 2031. Rising collaborations in telemedicine technologies and digitalization of medical consulting services are among the critical factors attributed to the Middle East & Africa medical second opinion market expansion.

Telemedicine technologies use modern communication platforms to conduct virtual interaction between patients and healthcare professionals. Telemedicine technology can be used in two distinct approaches: real-time interaction and store and forward approach. Telemedicine technologies allow the physician and patient to communicate despite geographical boundaries. Benefits provided by telemedicine technologies and an increase in investment are likely to provide lucrative opportunities for the medical second opinion market. For instance, in June 2024, IMG partnered with Teladoc Health to enhance the well-being of IMG customers by providing virtual access to healthcare professionals wherever they are traveling. It will also extend telehealth service capabilities for IMG customers with existing telehealth services and introduce telehealth services to additional IMG plans. In July 2023, AMD Global Telemedicine Inc. collaborated with Collain Healthcare to provide an electronic health records (EHR) solution and combined vital solutions that revolutionize healthcare delivery in senior living facilities, providing real-time information, reducing errors, and streamlining clinical workflows. The increasing number of partnerships and collaborations in telemedicine technologies is expected to offer lucrative opportunities for market growth in the coming years.

On the contrary, lack of awareness and reluctance toward adoption of medical second opinion in emerging nations hampers the growth of Middle East & Africa medical second opinion market.

Based on condition, the Middle East & Africa medical second opinion market is segmented into cancer, orthopedic disorders, cardiac disorders, neurological disorders, nephrological disorders, hematological blood disorders, COPD, organ transplant, and others. The cancer segment held 25.5% share of the Middle East & Africa medical second opinion market in 2023, amassing US$ 28.55 million. It is projected to garner US$ 57.23 million by 2031 to expand at 9.1% CAGR during 2023–2031.

Based on service provider, the Middle East & Africa medical second opinion market is segmented into hospitals, health insurance companies, and online services. The hospitals segment held 59.1% share of the Middle East & Africa medical second opinion market in 2023, amassing US$ 66.08 million. It is projected to garner US$ 123.18 million by 2031 to expand at 8.1% CAGR during 2023–2031.

Based on country, the Middle East & Africa medical second opinion market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held 33.9% share of Middle East & Africa medical second opinion market in 2023, amassing US$ 37.92 million. It is projected to garner US$ 72.50 million by 2031 to expand at 8.4% CAGR during 2023–2031.

Key players operating in the medical second opinion market are 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.

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