Sweden's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $3.6 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by the rising frequency of chronic illnesses and the government's assistance for research and development in the field of AI diagnostics. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & AI Medical Technologies.
Sweden's Artificial Intelligence (AI) in the diagnostics market is projected to grow from $3.6 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. Sweden has 290 municipalities and 21 regional councils. The Health and Medical Service Act governs healthcare decentralization (link in Swedish). Regional and municipal taxes cover the majority of health and medical expenditures in Sweden. National government contributions are another source of income, but patient payments only cover a small portion of the expenditures. One in every five adults is 65 or older. As a result, Sweden has one of Europe's largest senior populations. Chronic ischemic heart disease was the leading cause of mortality from heart diseases in Sweden in 2021 and it claimed the lives of 51.52 people per 100,000 people.
Sweden has been a pioneer in the application and utilization use of Artificial Intelligence (AI) in diagnostics. The government has a major emphasis on creating digital health solutions and has made large expenditures in R&D in this sector. Radiology is an important field of use for AI in diagnosis. The Swedish healthcare system has been employing artificial intelligence-based tools to analyze medical pictures and improve diagnostic accuracy. AI can interpret pictures quicker and more correctly than human radiologists, resulting in faster and more accurate diagnoses.
In January 2023, Swedish Artificial Intelligence startup AI Medical Technologies announced the completion of a $1.04 million fundraising to expedite the development of Dermalyser, an AI-driven diagnostic support tool for skin cancer. Two Karolinska Institutet researchers have been granted the Athena Award for their work on AI-based image analysis in precision medicine for risk categorization of breast cancer patients.
Market Growth Drivers
The Swedish government has also encouraged the use of AI in diagnostics through a variety of programs and legislation. The government has a national AI development policy that includes an emphasis on healthcare applications. Moreover, the Swedish Innovation Agency (Vinnova) has funded research projects that investigate the application of AI in diagnostics. The Swedish government's assistance for research and development in the field of AI in diagnostics is aiding to drive industry growth. Moreover, The Swedish healthcare system's significant emphasis on digitization has produced an atmosphere conducive to AI adoption. Another driving factor is the rising frequency of chronic illnesses, which has resulted in a greater demand for more precise and effective diagnostic methods.
The absence of legislative clarity and guidelines for the development and application of AI-based diagnostics. There are also questions about data privacy, particularly when patient data is used to train AI systems. Moreover, the expensive cost of establishing and maintaining AI-based diagnostic systems may be a deterrent to adoption, especially for smaller healthcare institutions. All of these could impact the pace of the adoption of AI in diagnostics in Sweden.
July 2022, Unilabs, the world's biggest diagnostic services provider, has announced a collaboration with Subtle Medical, a healthcare technology business that uses artificial intelligence for quicker and higher quality MRI, to increase the quality and efficiency of its MRI imaging.
The National Board of Health and Welfare (Socialstyrelsen) is a government institution within the Ministry of Health and Social Affairs that collects data and creates standards to promote excellent health, social welfare, and high-quality health and social care for the entire population. The Swedish Medical Products Agency (Läkemedelsverket) is the major body in Sweden in charge of regulating and managing the use of Artificial Intelligence (AI) in diagnostics. The agency is in charge of ensuring the safety, effectiveness, and quality of medical products and technologies, including artificial intelligence-based diagnostic tools.
In Sweden, the healthcare system is publicly supported, and the government typically covers the cost of healthcare services, including diagnostic testing. AI-based diagnostic tools are reimbursed depending on their effectiveness and cost-efficiency as established by the Dental and Pharmaceutical Benefits Agency. This contributes to ensuring that innovative technologies are available to all patients, regardless of economic level.
1. Report Description of the Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation Executive Summary
2.1 Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation –Industry Snapshot & key buying criteria, 2022-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation Segmentation
4.1 By Component Outlook
4.2 By Diagnosis Outlook
4.2.5 Chest and Lung
5. Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Sweden
8.2 Regulatory Framework in Sweden
8.3 Pricing & Reimbursement Scenario in Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation
9. Factors Driving Future Growth
9.1 New Trends and Development Sweden Artificial Intelligence (AI) in Diagnostics Market Segmentation
9.2 Future Opportunities
10. Strategic Recommendations
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