Italy Artificial Intelligence (AI) in Diagnostics Market Analysis

Italy Artificial Intelligence (AI) in Diagnostics Market Analysis


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Italy's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $0.02 Bn in 2022 to $0.26 Bn by 2030, registering a CAGR of 34.5% during the forecast period of 2022-30. The market will be driven by the increased prevalence of chronic illnesses, the demand for enhanced diagnostic accuracy, and the availability of innovative AI and machine learning technologies. The market is segmented by component & by diagnosis. Some of the major players include GE Healthcare, IBM Watson Health & Infermedica.

ID: IN10ITDH002 CATEGORY: Digital Health GEOGRAPHY: Italy AUTHOR: Vidhi Upadhyay

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Italy Artificial Intelligence (AI) in Diagnostics Market Executive Summary

Italy's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $0.02 Bn in 2022 to $0.26 Bn by 2030, registering a CAGR of 34.5% during the forecast period of 2022-30. The Italian public health system is regarded as one of the greatest in the world, with nearly all patient expenditures covered. The system emphasizes both preventative and curative care. The Servizio Sanitario Nazionale (SSN), Italy's national health service, offers inhabitants with free or inexpensive healthcare, including access to health personnel (GPs), treatment at government hospitals, subsidized drugs, lab facilities, ambulance services, and some specialist care. According to WHO statistics published in 2020, the number of Coronary Heart Disease fatalities in Italy reached 97,116, accounting for 17.89% of all deaths.

Improved imaging systems, smart robots, wearable technology, AI-based data processing, and simulation platforms are some examples of AI capabilities. It has applications in a variety of sectors such as Radiology, Pathology, Oncology, Cardiology, Neurology, and others. The first Pervasive Artificial Intelligence Laboratory (PAI Lab) was launched in Pisa in April 2021. The PAI laboratory arose from the necessity to pool expertise, infrastructure, and resources to address the scientific problems posed by an AI that is rapidly becoming a widespread technology. The Italian Ministry of Economic Development presented a basic outline of their National AI plan for public comment in October 2020. (Italy, 2020). The draught AI plan gives a long-term vision for AI development that is sustainable.

italy artificial intelligence in diagnostics market analysis

Market Dynamic

Market Growth Drivers

The Artificial Intelligence (AI) in Diagnostics market in Italy is quickly expanding, owing to factors such as the increased prevalence of chronic illnesses, the demand for enhanced diagnostic accuracy, and the availability of innovative AI and machine learning technologies. In Italy, a huge number of creative start-ups and established organisations, both local and international are creating and deploying AI-based diagnostic solutions. The Italian government has aggressively supported the expansion of AI in diagnostics through efforts including as R&D funding, the construction of a legal framework, and investment in digital infrastructure. The Ministry of Economic Development has established a national AI plan that includes steps to assist the development and deployment of AI-based diagnostic solutions.

Market Restraints

There are also various obstacles and constraints that must be solved in the Italian AI in Diagnostics sector. They include technical difficulties like the requirement for high-quality data and system compatibility, as well as regulatory compliance issues like data privacy and security. Moreover, better coordination between multiple players in the healthcare ecosystem, such as healthcare providers, technology firms, and regulators, is required in Italy.

Competitive Landscape

Key Players

  • GE Healthcare
  • IBM Watson Health
  • Siemens Healthineers
  • Philips Healthcare
  • Google Health
  • AliveCor, Inc.
  • Riverain Technologies
  • Infermedica (ITA)
  • GenomeUp (ITA)
  • MedLea (ITA)
  • Novartis

Notable Deals

February 2023, GE HealthCare to Acquire Caption Health The acquisition adds AI-enabled image guiding to the ultrasound device portfolios of GE HealthCare's $3 billion Ultrasound division.

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

According to the Italian plan, an ethical regulatory framework for AI must promote openness, accountability, and dependability in order to foster people' confidence and involvement in a healthy AI ecosystem. The Ministry of Technological Innovation and Digitalisation's 2020 Strategy for Technological Innovation and Digitalisation envisages the formation of an 'Alliance for Sustainable Artificial Intelligence' to provide core principles for the development of trustworthy AI solutions. The national AI strategy also highlights the necessity of public education campaigns on the features, prospects, and hazards of AI, as well as its possible abuse.

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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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

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The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

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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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

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
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 03 July 2023
Updated by: Ritu Baliya

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