Belgium AI in Diagnostics Market Analysis Report 2022 to 2030

Belgium Artificial Intelligence (AI) in Diagnostics Market Analysis

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The Belgium Artificial Intelligence (AI) in the diagnostics market is projected to grow from $xx Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. The market will be driven by Belgium’s vibrant AI startup environment and government initiatives such as “The National Strategy to Develop Artificial Intelligence (AI)”. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Icometrix & Agfa HealthCare.

ID: IN10BEDH002 CATEGORY: Digital Health GEOGRAPHY: Belgium

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Belgium Artificial Intelligence (AI) in Diagnostics Market Executive Summary

The Belgium Artificial Intelligence (AI) in the diagnostics market is projected to grow from $xx Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. Belgium is a high-income country with a fairly good quality of life and high levels of health care for its population. Belgium's healthcare system is regarded as one of the best in Europe. In Belgium, it is generously funded by mandatory health insurance and social security contributions. It provides nearly ubiquitous coverage.

According to OECD statistics, 99% of Belgians have access to treatment through the public healthcare system. Lung cancer and ischemic heart disease were the ailments with the largest burden in terms of years of life lost before the age of 75 among men. Breast cancer, lung cancer, and cerebrovascular illnesses were the leading causes of death among women. More than one in every four Belgians has at least one chronic condition.

AI is employed in diagnosis in a range of sectors in Belgium, including radiology, pathology, and cardiology. AI-powered diagnostic tools, for example, are being created to analyze medical imaging and discover abnormalities like cancerous lesions or brain bleeds with more precision and speed. AI is additionally utilized to aid healthcare practitioners in assessing vast quantities of medical data in order to find patterns and risk factors for specific diseases. AI-based medical imaging is one of the most promising applications of AI in diagnosis. In Belgium, AI technologies are being developed to analyze medical images such as X-rays, CT scans, and MRIs to aid clinicians in identifying and treating illnesses.

In February 2023, Mindpeak's (Germany-based firm, built automation tools for visual diagnosis using state-of-the-art artificial intelligence and deep learning) PD-L1 AI was chosen by Ziekenhuis Netwerk Antwerpen (ZNA) and GZA Hospitals as the first laboratory in Belgium to employ artificial intelligence in combating cancer. In October 2022, The Federal Government of Belgium unveiled its national strategy to develop artificial intelligence (AI), with the goal of making the country a "Smart AI Country."

Market Dynamics

Market Growth Drivers

The Federal Government of Belgium, in response to public and industry demand, and to boost Belgium's position in the field of AI, a national strategy focused on nine goals has been established, each of which strives to strike a balance between innovation and the protection of people's basic rights and privacy. Belgium has a vibrant AI startup environment, with businesses developing cutting-edge technologies in domains including computer vision, natural language processing, and machine learning, for example, Icometrix develops AI-powered software for analyzing brain MRI data. MSmetrix, the company's flagship product, assists clinicians in the diagnosis and management of multiple sclerosis by quantitatively assessing brain MRI data for atrophy and lesion burden.

Market Restraints

The premise is that AI Algorithms are developed solely by engineers, rather than in collaboration with physicians. Generally, after an algorithm has been validated and proven to outperform a given set of standards for an HCP's activity, it may begin to be manufactured. However, reimbursement for the technology needs to go through clinical validation, just like any other medical treatment. Further challenges such as the initial expense it currently implies for healthcare institutions and differences between all legal measures for data interoperability are also concerning to the growth of the market.

Competitive Landscape

Key Players

GE Healthcare
IBM Watson Health
Siemens Healthineers
Philips Healthcare
Google Health
AliveCor, Inc.
Lunit Inc.
Icometrix (BEL)
Ovizio (BEL)
Agfa HealthCare (BEL)
Coreline Soft (BEL)

Notable Deals

In May 2022, Coreline Soft announced that it would offer hospitals in Germany and Belgium AVIEW LCS PLUS, an artificial intelligence-based solution for detecting chest disorders.

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

The Federal Agency for Medicines and Health Products (FAMHP) is Belgium's medical device regulatory body. The FAMHP, in particular, is in charge of ensuring the quality, safety, and efficacy of such devices. The requirements for coverage of various items are defined by the National Institute for Health and Disability Insurance (NIHDI).

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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.