Spain Artificial Intelligence (AI) in Diagnostics Market Analysis

Spain Artificial Intelligence (AI) in Diagnostics Market Analysis


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Spain's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $0.02 Bn in 2022 to $0.20 Bn by 2030, registering a CAGR of 34% during the forecast period of 2022-30. The market will be driven by increasing demand for more accurate and efficient diagnostic solutions and positive government initiatives. The market is segmented by component & by diagnosis. Some of the major players include GE Healthcare, IBM Watson Health & QUIBIM.

ID: IN10ESDH002 CATEGORY: Digital Health GEOGRAPHY: Spain AUTHOR: Vidhi Upadhyay

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Spain Artificial Intelligence (AI) in Diagnostics Market Executive Summary

Spain's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $0.02 Bn in 2022 to $0.20 Bn by 2030, registering a CAGR of 34% during the forecast period of 2022-30. The National Health System (Sistema Nacional de Salud; SNS) of Spain is founded on the values of universality, unrestricted access, equity, and financial justice. Even with funding restrictions brought on by the global economic crisis, the healthcare system is nearly universal, serving 99.1% of the population. In Spain, cardiovascular disorders are the leading cause of mortality, accounting for 33.71% of all fatalities. In males, the most common cause is ischemic heart disease (22,923 deaths). In women, the leading cause is cerebrovascular illness (21,927 deaths). Tumors come in second, accounting for 25.9% of all fatalities.

In Spain, artificial intelligence (AI) is becoming increasingly essential in the realm of medical diagnosis. By analyzing massive volumes of patient data and discovering patterns and trends that human doctors may not see, AI has the potential to improve the accuracy and efficiency of medical diagnosis. The use of machine learning algorithms to evaluate medical imaging such as X-rays, CT scans, and MRI scans is one of the most promising uses of AI in diagnostics. These algorithms may be trained to recognize minor patterns and abnormalities, resulting in faster and more accurate diagnoses.

In November 2021, A cooperation between radiologists from three Spanish hospitals and technological partners with expertise in Artificial Intelligence (AI) and information technology (IT) is significantly advancing the use of cutting-edge technologies in healthcare.

spain artificial intelligence in diagnostic market analysis

Market Dynamics

Market Growth Drivers

The Barcelona Supercomputing Center is conducting research to build AI algorithms for medical imaging analysis, while the Spanish National Institute for Cardiovascular Research is utilizing AI to analyze cardiac MRI data to increase the accuracy of heart disease detection.

Artificial Intelligence (AI) in the Diagnostics market in Spain is expanding fast, owing to reasons such as an aging population, an increased burden of chronic illnesses, and a demand for enhanced diagnostic accuracy. In Spain, there is a great number of creative startups and established enterprises, both local and international, creating and deploying AI-based diagnostic solutions. With measures including research and development funding, the construction of a regulatory framework, and investment in digital infrastructure, the Spanish government has actively supported the expansion of AI in diagnostics. They developed a national AI plan in 2019 that includes steps to stimulate the creation and use of AI-based diagnostic solutions in healthcare.

Market Restraints

Concerns have also been raised regarding privacy and the possibility of skewed algorithms. There are continuing conversations and debates in Spain, as in other countries, concerning how to regulate and oversee the use of AI in healthcare to guarantee that technology is utilized ethically and responsibly. Moreover, issues such as regulatory concerns and high acquisition costs can also be an impediment to the growth of the market.

Competitive Landscape

Key Players

  • GE Healthcare
  • IBM Watson Health
  • Siemens Healthineers
  • Philips Healthcare
  • AliveCor, Inc.
  • Riverain Technologies
  • QUIBIM (ESP)
  • Savana (ESP)

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

The Spanish Agency of Pharmaceuticals and Medical Devices (AEMPS) is in charge of regulating medical devices in Spain, including AI-based diagnostic tools. To guarantee that medical devices satisfy European Union (EU) regulatory requirements, the AEMPS collaborates closely with the European Medicines Agency (EMA). AI-based diagnostic technologies are often compensated by Spain's National Health System (SNS) via a procedure known as health technology evaluation (HTA). HTA is a systematic assessment of a technology's clinical, economic, and social consequences that are used to influence choices regarding its adoption and reimbursement. Many criteria influence the reimbursement of AI-based diagnostic tools through HTA in Spain, including the technology's clinical efficacy, cost-effectiveness, and impact on patient outcomes.

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

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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)

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Last updated on: 20 September 2023
Updated by: Anish Swaminathan

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