New Zealand Artificial Intelligence (AI) in Diagnostics Market Report 2022 to 2030

New Zealand Artificial Intelligence (AI) in Diagnostics Market Analysis

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New Zealand 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 a rising population and rising healthcare spending along with progressive research 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 & Toku Eyes.

ID: IN10NZDH002 CATEGORY: Digital Health GEOGRAPHY: New Zealand AUTHOR: Vidhi Upadhyay

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New Zealand Artificial Intelligence (AI) in Diagnostics Market Executive Summary

The New Zealand 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 healthcare system in New Zealand is a universal public system. It ranks among the top 20 healthcare systems around the world, ranking alongside the US and the UK. The government provides around 85% of New Zealand's healthcare. Residents of New Zealand have access to free or subsidised healthcare. The government's annual healthcare budget has been projected to be over $7 billion in May 2022.

AI-based medical imaging is one of the most promising applications of AI in diagnosis. In New Zealand, artificial intelligence (AI) technologies are being developed to analyse medical images such as X-rays, CT scans, and MRIs to aid doctors in diagnosing and treating diseases. In addition, artificial intelligence systems are being developed to spot diseases such as diabetes and cancer. To detect sickness early on, these algorithms may analyse data from blood tests and other medical procedures. The application of AI in diagnostics is presently in its early stages in New Zealand, but the business is expected to grow considerably in the next few years. The government has also recognised the importance of AI in healthcare and has put in place measures to assist the country in developing AI technology.

Market Dynamics

Market Growth Drivers

As New Zealand’s ageing population expands, so does its public health spending for new and current screening programmes e.g., bowel screening, as well as disorders related to ageing including diabetes care and nutrition. (Currently, one in every three New Zealanders is classified as obese.) In January 2023, Melanoma is frequent cancer in both New Zealand and Australia, with over 4000 new cases detected each year. Molemap, a skin cancer diagnostics business, has announced the launch of a new artificial intelligence-powered melanoma screening tool. The algorithm for the tool, called SMARTI (skin cancer management using artificial intelligence), was created alongside cancer researchers and will be distributed throughout clinics in New Zealand.

Market Restraints

The concept is that AI has the ability to learn or change its operations over time in order to become more successful. This implies that identifying the elements that influence decision-making may be impossible. As a result, while the application of AI may result in a better medical outcome, learning from the judgements made is difficult. One of the most fundamental challenges is the management of health data and what the barter is when using AI approaches to enhance healthcare. Moreover, New Zealand is cautious to invest in sophisticated technology unless they see returns.

Competitive Landscape

Key Players

IBM Watson Health
Siemens Healthineers
Philips Healthcare
GE Healthcare
Google Health
AliveCor, Inc.
Riverain Technologies
Nuance Communications
Toku Eyes (NZL)

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
May 2022, Toku Eyes, a New Zealand-based provider of a multi-modal artificial intelligence platform for fast healthcare diagnostics, announced that its newest technology (ORAiCLETM) will be available in the United States
September 2021, Nuance Communications, a company located in the United States that develops conversational AI tools for healthcare, has made its AI-enabled radiology products - PowerScribe One reporting platform and mPower Clinical Analytics - accessible in Australia and New Zealand

Healthcare Policies and Regulatory Landscape

The New Zealand Medicines and Medical Devices Safety Authority is known as Medsafe. It is a Ministry of Health business unit accountable for the oversight of medical products in New Zealand.

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.