Turkey Artificial Intelligence (AI) in Healthcare Market Analysis

Turkey Artificial Intelligence (AI) in Healthcare Market Analysis


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Turkey's Artificial Intelligence (AI) In Healthcare Market is projected to grow from $0.06 Bn in 2022 to $1.12 Bn by 2030, registering a CAGR of 45.72% during the forecast period of 2022 - 2030. The market will be driven by the country's growing demand for healthcare services and government initiatives to promote the use of AI in healthcare. The market is segmented by healthcare components & by healthcare applications. Some of the major players include IBM Watson Health, Hayriya & Mandarin Health.

ID: IN10TRDH003 CATEGORY: Digital Health GEOGRAPHY: Turkey AUTHOR: Vidhi Upadhyay

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Turkey Artificial Intelligence (AI) In Healthcare Market Executive Summary

Turkey's Artificial Intelligence (AI) In Healthcare Market is projected to grow from $0.06 Bn in 2022 to $1.12 Bn by 2030, registering a CAGR of 45.72% during the forecast period of 2022 - 2030. According to a recent study published in The Lancet, Turkey's healthcare system ranks 60th out of 195 countries. The country's growing number of medical schools and professionals is evidence of this. Turkey's healthcare expenditure as a share of GDP was 4.6 per cent of GDP, putting the country last among OECD-European countries. Despite this, total health expenditure has been progressively rising in recent years, reaching nearly 354 Bn Turkish lira in 2021. Ischemic heart disease (21.5%), Stroke (11.8%), Lung cancer (38.3%), COPD (18.1%), Alzheimer's disease (35.6%) & Diabetes (3.9%) are the top causes of death in turkey.

Artificial intelligence (AI) in healthcare is still in its early stages in Turkey, but it is rapidly expanding. Because of the country's large population, rising healthcare expenditure, and shortage of healthcare professionals, there is a lot of interest in AI-driven healthcare solutions. Various facilities such as Memorial Healthcare Group, Acıbadem Healthcare Group, Cerrahpasa Medical Faculty Hospital, Istanbul Aydın University VM Medical Park Florya Hospital & Ankara City Hospital are using AI to improve patient outcomes and reduce healthcare costs. In Turkey, private sector businesses are additionally making investments in AI-driven healthcare solutions. Local entrepreneurs are creating AI-powered medical devices such as diagnostic tools and wearable sensors, while global corporations are collaborating with local healthcare providers to provide AI-based solutions.

Turkey Artificial Intelligence (AI) In Healthcare Market

Market Dynamics

Market Growth Drivers

Turkey's government has released the country's National Artificial Intelligence Strategy for 2021-2025. The Turkish government had announced an ambitious policy blueprint aimed at making the country's AI sector account for at least 5% of GDP by 2025. The government has announced several other initiatives to promote the use of AI in healthcare, including the "Digital Health Transformation Program," which aims to provide residents across the nation with electronic health records, telemedicine services, and AI-powered health applications. The country's growing demand for healthcare services as the population grows and chronic diseases become more prevalent. Moreover, there is a great deal of interest in AI healthcare solutions in Turkey from entrepreneurs and investors. Local startups are creating AI-powered medical devices and software, while global corporations are collaborating with local healthcare providers to provide AI-based solutions.

Market Restraints

There are also a few barriers to the expansion of AI in healthcare in Turkey. One of the most significant ones is the lack of a regulatory framework for AI in healthcare, which can lead to data privacy and security issues. Another challenge is the country's scarcity of skilled AI professionals, which can constrain the growth and adoption of AI solutions. Finally, more investment in research and development is required to develop AI-powered solutions that meet the particular requirements of the Turkish healthcare system.

Competitive Landscape

Key Players

  • IBM Watson Health
  • Google Health
  • Microsoft Healthcare
  • Philips Healthcare
  • NVIDIA Corporation
  • Digime3D (TUR)
  • Hayriya (TUR)
  • TRAICK (TUR)
  • Mandarin Health (TUR)
  • Biokido (TUR)
  • Labenko (TUR)

Notable Insights

In February 2021, GE Healthcare partnered with an Istanbul-based healthcare digitalisation thought leader to accelerate artificial intelligence (AI) development in software development in Turkey.

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

Artifical Intelligence (AI) in Healthcare Market Segmentation

The 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

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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.

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

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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: 29 March 2023
Updated by: Dhruv Joshi

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