Italy Artificial Intelligence (AI) in Healthcare Market Analysis

Italy Artificial Intelligence (AI) in Healthcare Market Analysis


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Italy's Artificial Intelligence (AI) in the healthcare market is projected to grow from $0.17 Bn in 2022 to $3.19 Bn by 2030, registering a CAGR of 44.72% during the forecast period of 2022-30. The market will be driven by increasing demand for innovative and effective healthcare services, the rising availability of healthcare data, and the implementation of electronic health records (EHRs). The market is segmented by healthcare components & by healthcare applications. Some of the major players include IBM Watson Health, Google Health, TeiaCare & surgiQ.

ID: IN10ITDH003 CATEGORY: Digital Health GEOGRAPHY: Italy AUTHOR: Vidhi Upadhyay

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Italy Artificial Intelligence (AI) in Healthcare Market Executive Summary

Italy's Artificial Intelligence (AI) in Healthcare Market is projected to grow from $0.17 Bn in 2022 to $3.19 Bn by 2030, registering a CAGR of 44.72% during the forecast period of 2022-30. The Italian National Health Service (SSN) is largely decentralized, with each area responsible for coordinating and delivering health services to the people. The federal government determines the national benefits package and funds regional health systems. As in the majority of high-income nations, the leading causes of mortality in Italy are cardiovascular diseases and cancer, and as of 2020, infectious respiratory disorders. In Italy, the AI market increased by +27% in 2021 (380 million euros), more than doubling its value in just two years.

In Italy, artificial intelligence (AI) is progressively being adopted and used in healthcare. Medical imaging is one of the primary areas where AI is employed in healthcare in Italy. AI is being used by researchers at the University of Bologna to create a program that can detect symptoms of lung cancer in CT images with high accuracy. AI is also being utilized to increase diagnostic test accuracy. Researchers at the University of Brescia, for instance, have created an AI-based tool that can predict the likelihood of acquiring Alzheimer's disease by assessing a patient's medical history, genetics, and brain scans. Furthermore, AI is being used in the advancement of precision medicine. AI is also being utilized to improve healthcare delivery in Italy, in addition to these applications. Patients are using chatbots and virtual assistants to arrange appointments, get health information, and manage chronic diseases. AI-powered solutions are also being utilized to improve patient monitoring and early disease identification.

In 2022, the University of Turin joined a diversified portfolio of partners that includes Synlab Italia, Synlab SDN, BioCheckUp, the Institute Italiano di Tecnologia, the University of Naples Federico II, ART-ER Attractiveness Research Territory, and Fondazione Bruno Kessler. Artificial intelligence (AI) is rapidly shifting the Italian healthcare business and is poised to become a crucial tool for healthcare practitioners, researchers, and politicians.

italy artificial intelligence in healthcare market

Market Dynamics

Market Growth Drivers

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. Moreover, the increasing demand for innovative and effective healthcare services is one of the major growth drivers of AI in healthcare in Italy. The aging population, increased chronic diseases, and rising healthcare expenses put pressure on the healthcare system to discover more effective and cost-effective ways to provide care.

Furthermore, the rising availability of healthcare data and the implementation of electronic health records (EHRs) are pushing the expansion of AI in healthcare. The massive volumes of data produced by EHRs, medical devices, and wearables can be utilized to train AI algorithms, which can then assist physicians in making more accurate diagnoses, identifying high-risk patients, and personalizing treatment programs.

Market Restraints

There are also various barriers to the expansion of AI in healthcare in Italy. One of the key concerns is the absence of healthcare data standardization and interoperability. Data created by multiple healthcare providers and systems may be incompatible, making data integration and analysis challenging. This has the potential to limit the effectiveness of AI systems and impede their adoption in healthcare. Another challenge is the limitation of money and resources for AI research and development in healthcare. While there are various AI startups and companies focusing on healthcare in Italy, they frequently encounter financial limits and struggle to expand their solutions to a larger market. Furthermore, there are ethical and legal problems with the use of AI in healthcare, such as data privacy and bias that could potentially limit the market expansion.

Competitive Landscape

Key Players

  • IBM Watson Health
  • Google Health
  • NVIDIA Corporation
  • GE Healthcare
  • Philips Healthcare
  • Amazon Web Services
  • TeiaCare (ITA)
  • Horus Technology (ITA)
  • surgiQ (ITA)
  • Amiko (ITA)
  • RiAtlas (ITA)
  • MyWay Genetics (ITA)

Notable Insights

  1. 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
  2. In November 2021, GE Healthcare introduced a number of artificial-intelligence-powered systems and technologies to improve imaging, diagnostics, genetic analysis, and clinical processes and collaborated with Optellum and Cambridge

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 Healthcare Market Segmentation

Artificial Intelligence (AI) in Healthcare Market is segmented as mentioned below:

By Healthcare Component (Revenue, USD Billion):

  • Software Solutions
  • Hardware
  • Services

By Healthcare Applications (Revenue, USD Billion):

  • Robot-Assisted Suregery
  • Virtual Assistants
  • Administrative Workflow Assistants
  • Connected Machines
  • Diagnosis
  • Clinical Trials
  • Fraud Detection
  • Cybersecurity
  • Dosage Error Reduction

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”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

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.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

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

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

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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  • Qualitative, acute and result oriented market analysis
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Last updated on: 31 May 2023
Updated by: Dhruv Joshi

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