Sweden Artificial Intelligence in Diagnostics Market Report 2022 to 2030

Sweden Artificial Intelligence (AI) in Diagnostics Market Analysis

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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.

ID: IN10SEDH002 CATEGORY: Digital Health GEOGRAPHY: Sweden AUTHOR: Vidhi Upadhyay

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Sweden Artificial Intelligence (AI) in Diagnostics Market Executive Summary

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. 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.

sweden artificial intelligence in diagnostics market analysis

Market Dynamics

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.

Market Restraints

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.

Competitive Landscape

Key Players

GE Healthcare
IBM Watson Health
Siemens Healthineers
Philips Healthcare
Google Health
AliveCor, Inc.
Unilabs
AI Medical Technologies (SWE)
Elypta (SWE)
Stardots (SWE)

Notable Deals

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.

Healthcare Policies and Regulatory Landscape

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.

Reimbursement Scenario

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. 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.