Report : Middle East and Africa Medical Second Opinion Market Forecast to 2027 - COVID-19 Impact and Regional Analysis - by Disorders (Cancer, Orthopedic Disorders, Cardiac Disorders, Neurological Disorders, Nephrological Disorders, Hematologic Blood Disorders, COPD, Organ transplant, and Other Disorders), and Service Providers (Hospitals, Health Insurance Companies, and Online Services)
The orthopedic diaorder segment by disorders is estimated to lead the market growth during the forecast period
According to a new market research study of “Middle East and Africa Medical Second Opinion Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Disorders, Service Providers and Country.” The Middle East and Africa medical second opinion market is expected to reach US$ 291.04 Mn by 2027 from US$ 121.60 Mn in 2020; it is estimated to grow at a CAGR of 13.3% from 2020 to 2027. The report highlights trends prevailing in the Middle East and Africa medical second opinion market and the factors driving market along with those that act as hindrances.
Telemedicine technologies incorporate the utilization of modern communication platforms intending to conduct virtual interaction between patients and healthcare professionals. The adoption of telemedicine technologies allows the physician and patient communication over geographical boundaries. This prominent benefit served by telemedicine technologies and growing investments is likely to offer lucrative opportunity growth of the medical second opinion market during the forecast period. For instance, in March 2020, New Capital Partners invested in New Capital Partners to develop new telemedicine technologies. These new technologies will be prominently useful for nursing services, long-term care, and assisted living facilities. With the assistance of this investment, the company is planning to launch pre-consultations, second medical opinion, and appointment-booking platform to provide ease of healthcare access for a large number of populations. Such an increasing number of investments in telemedicine technologies are projected to offer a lucrative opportunity for market growth by 2027. Also, rising number of partnerships and collaborations amongst software developing companies and healthcare institutions is accelerating the digitalization of medical consulting services. Such growing digitalization of medical second opinion services is estimated to offer lucrative opportunity for the growth of the market.
The coronavirus pandemic has become the largest challenge to developing Middle East region. For instance, due to the high uncertainty of the spread of COVID-19, the impact on Africa is expected to be severe, given the continent’s exposure to China. The countries in these regions usually face challenges for the availability of medical services. However, the new online and mobile-only feature was launched by the Dubai Health Authority (DHA) at the opening of Arab Health, a global healthcare event. Patients with disorders across seven specialties can get a second medical opinion (SMO) or diagnosis free from doctors in Dubai. Hence, COVID-19 will have a positive impact on medical second opinion market in Middle East region.
Based on disorders, the Middle East and Africa medical second opinion market is segmented into cancer, diabetes, cardiac disorders, neurological disorders, nephrological disorders, hematological disorders, COPD, orthopedic disorder, organ transplant, and other diseases. Based on service provider, the Middle East and Africa medical second opinion market is segmented into hospitals, health insurance companies, and online services. Geographically, the Middle East and Africa medical second opinion market is sub-segmented into UAE, Saudi Arabia, South Africa and Rest of Middle East and Africa.
Second Opinion International, Elite Medical Services, Cigna, WorldCare, Medix, and AXA are among the leading companies operating in the Middle East and Africa medical second opinion market.