Ireland Artificial Intelligence (AI) in Diagnostics Market Analysis

Ireland Artificial Intelligence (AI) in Diagnostics Market Analysis


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Ireland's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $xx Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by via rise in the financing, collaborations, supportive regulatory frameworks, and the availability of large amounts of medical data. The market is segmented by component & by diagnosis. Some of the major players include GE Healthcare, IBM Watson Health & Deciphex.

ID: IN10IEDH002 CATEGORY: Digital Health GEOGRAPHY: Ireland AUTHOR: Vidhi Upadhyay

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Ireland Artificial Intelligence (AI) in Diagnostics Market Executive Summary

Ireland's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $xx Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. Ireland offers a dual healthcare system that includes both private and governmental choices. Ireland's publicly funded healthcare system is governed by a single government agency, the Health Service Executive (HSE). The health budget for Ireland in 2022 is $ 22.29 billion. Cancer and circulatory illnesses continue to be the primary causes of mortality, accounting for more than 30% of all fatalities. In Ireland, behavioral risk factors are a significant contributory factor to mortality.

Artificial intelligence (AI) is rapidly being used in diagnostics in Ireland, with a rising number of healthcare facilities investigating its potential to increase diagnostic precision and effectiveness. One use of AI is in medical imaging, such as X-rays, CT scans, and MRI scans. These data may be analyzed by AI algorithms to find abnormalities or trends that may be symptomatic of a certain sickness or condition. This can assist radiologists in making more accurate diagnoses and lowering the likelihood of mistakes. Another use of AI is pathology, where it can examine tissue samples to detect malignant cells or other abnormalities.

In January 2023, Siemens established a Center of Excellence for immunoassay instrument research and development. The new Institute shall focus on identifying and exploiting breakthrough improvements in laboratory devices used to diagnose infectious illnesses, cancer, and blood ailments. The Irish Government is funding this initiative through IDA Ireland. In March 2022, A new AI collaboration between Irish health tech start-up xWave Technologies and CeADAR, Ireland's hub for applied AI research, was unveiled to enable medical testing more accurate and individualized.

Market Dynamics

Market Growth Drivers

Ireland has a large collection of healthcare data that may be used to train and develop AI systems. AI's fast technical growth is resulting in more advanced algorithms and more dependable outcomes, making AI a more appealing alternative for diagnostics. Furthermore, via financing, collaborations, and regulatory frameworks, the Irish government and businesses are actively promoting the expansion of AI in diagnostics. Another element impacting market expansion is the increased need for precise and rapid diagnostics.

Market Restraints

While Ireland has a plethora of healthcare data, accessing and sharing this data remains difficult due to privacy concerns and regulatory constraints. Clear regulatory frameworks are yet required to assure the security and efficiency of these instruments. Creating AI-powered diagnostic tools may be costly, and smaller businesses may struggle to obtain the required funding. Because of concerns about job displacement and the need for retraining, some healthcare professionals may be hesitant to employ AI-powered diagnostic tools. Some of the mentioned challenges may impede the country's full-fledged adoption of AI.

Competitive Landscape

Key Players

  • GE Healthcare
  • IBM Watson Health
  • Siemens Healthineers
  • Philips Healthcare
  • Google Health
  • AliveCor, Inc.
  • Lunit Inc.
  • kheiron Medical Technologies
  • Qure.ai
  • Deciphex (IRL)
  • MEDTRAC (IRL)

Notable Deals

  1. In September 2022, Deciphex, a digital pathology software and service company located in Dublin, Ireland, announced the debut of its Diagnexia service in the United States
  2. In April 2022, Philips established a long-term strategic alliance with Oulu University Hospital in Finland to provide enhanced image-guided specialized care

Healthcare Policies and Regulatory Landscape

The Health Products Regulatory Authority (HPRA) is Ireland's regulating authority for medicines, biologicals, and medical devices. The HPRA is a government entity tasked with safeguarding and improving public health through the regulation of medications, medical devices, and other health items, as well as cosmetics.

The National Standards Authority of Ireland (NSAI) is an Irish-recognized entity that the HPRA has appointed to carry out conformity assessment processes to guarantee compliance with applicable medical device laws.

Reimbursement Scenario

The Health Services Executive (HSE) in Ireland is legally responsible for drug and medical device price and reimbursement. HSE must keep an inventory of reimbursable items (the Reimbursement List), and suppliers must follow a defined application process for most products to be listed on the Reimbursement List. Ireland lacks a specific clearance mechanism for reimbursements for high-tech equipment.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Artificial Intelligence (AI) in Diagnostics Market Segmentation

  • By Component Outlook Type (Revenue, USD Billion):
    • Software
    • Hardware
    • Services
  • By Diagnosis Outlook Type (Revenue, USD Billion):
    • Cardiology
    • Oncology
    • Pathology 
    • Radiology
    • Chest and Lung
    • Neurology
    • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Last updated on: 06 March 2023
Updated by: Ritu Baliya

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