Bulgaria AI in Diagnostics Market Analysis Report 2022 to 2030

Bulgaria Artificial Intelligence (AI) in Diagnostics Market Analysis

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Bulgaria's 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 the growing need in the healthcare industry for faster and more accurate diagnostic solutions and increasing investments by the government and private sectors. The market is segmented by component & by diagnosis. Some of the major players include Philips Healthcare, IBM Watson Health & CoLumbo.

ID: IN10BGDH002 CATEGORY: Digital Health GEOGRAPHY: Bulgaria AUTHOR: Vidhi Upadhyay

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Bulgaria Artificial Intelligence (AI) in Diagnostics Market Executive Summary

Bulgaria's 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 National Assembly, the National Health Insurance Fund, and the Ministry of Health are the primary financiers of healthcare in Bulgaria. The NHIF, which encompasses services covered in the benefits package as well as some pharmaceuticals, oversees social single-payer healthcare. Bulgaria leads the European Union in premature death from cardiovascular illnesses. Therefore, an average of 160 persons under the age of 65 per 100,000 thousand inhabitants die each year.

Artificial intelligence (AI) is becoming more significant in healthcare, particularly in medical diagnosis. Bulgaria is becoming more interested in applying artificial intelligence (AI) technology in healthcare, notably in medical diagnostics. Many efforts in Bulgaria have been launched with the goal of using AI in healthcare. A group of Bulgarian researchers created an AI-based system that uses chest x-rays to identify coronavirus infections. The technology was created to help healthcare staff make quicker and more accurate diagnoses. Additionally, certain Bulgarian hospitals and medical facilities use AI-powered diagnostic systems to aid in the early diagnosis of illnesses such as cancer. These applications are intended to analyze diagnostic images and give insights that can help with diagnosis and therapy planning.

Market Dynamics

Market Growth Drivers

Artificial intelligence (AI) in diagnostics is an emerging industry in Bulgaria, with a number of drivers affecting its evolution. One of the primary factors is the growing need in the healthcare industry for faster and more accurate diagnostic solutions.

Growing investment in medical technology is yet another driver of AI in the diagnostics market in Bulgaria. To enhance the standard of medical services in the country, the government has made investments considerably in the development of healthcare technologies, including AI. Private investors are also expressing interest in the area, leading to rising investment for healthcare technology start-ups and enterprises.

Market Restraints

There is a regulatory gap surrounding the application of AI in healthcare. Because the government has been unable to build a comprehensive regulatory regime for the use of AI in diagnostics, healthcare professionals and investors are concerned. In Bulgaria, the availability of experienced AI specialists is limited. The country has a scarcity of AI and machine learning professionals, making it challenging for businesses to create and execute AI-powered diagnostic solutions.

Competitive Landscape

Key Players

GE Healthcare
IBM Watson Health
Siemens Healthineers
Philips Healthcare
Google Health
AliveCor, Inc.
CoLumbo (BGR)
Kelvin Health (BGR)
Sqilline (BGR)

Notable Deals

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
November 2022, During RSNA 2022, Philips promotes AI-powered diagnostic technologies and transformational workflow solutions

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

The Bulgarian Drug Agency (BDA) is a specialized state regulatory institution reporting to the Minister of Health that oversees the quality, safety, and efficacy of medical devices. The BDA is in charge of licensing and registering medications and medical devices for sale, as well as providing permits, authorizations, and certifications for a variety of operations such as import/export, wholesale distribution and retail trade, production, and brokering.

The National Health Insurance Fund (NHIF) is a state agency in charge of medical device reimbursement, and it is one of the providers of government funds. The Law on Medical Devices (LMD) and supplementary laws on its execution are the primary local statutory acts dealing with the registration, price, and reimbursement of medical devices. Secondary legislation is issued by the Council of Ministers or the Minister of Health, depending on the kind of legislative act.

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.