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2024 Artificial Intelligence (AI) In Respiratory Diseases Market Report : Market Size, Growth Drivers, And Key Trends
Artificial Intelligence (AI) In Respiratory Diseases Global Market Report 2024
According to The Business Research Company's, The AI in respiratory diseases market size has grown strongly in recent years. It will grow from $7.25 billion in 2023 to $7.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing government regulations, growing environmental concerns, increasing aging population, growing patient-centric healthcare approaches, rise in healthcare infrastructure development.
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Market Drivers and Trends:
Growing environmental pollution is expected to propel the growth of artificial intelligence (AI) in the respiratory disease market going forward. Environmental pollution refers to the addition of any substance or form of energy to the environment at a rate faster than it can be dispersed or stored in a harmless form. AI in respiratory diseases has the potential to significantly reduce the impact of environmental pollution on respiratory health by offering real-time monitoring, personalized risk assessments, informed decision-making, and innovative solutions for both individuals and communities. For instance, in November 2023, according to the United States Environmental Protection Agency, a US-based government agency, in the US around 66 million tons of pollution was emitted into the atmosphere in 2022. Further, US greenhouse gas emissions by the economic sector increased by 6,025.97 million metric tons (MMT) of CO2 in 2020 to 6,340.23 million metric tons (MMT) of CO2 in 2021. Therefore, growing environmental pollution is driving the growth of artificial intelligence (AI) in the respiratory disease market.
Major companies operating in artificial intelligence (AI) in the respiratory diseases market are developing innovative products such as N-Tidal devices to monitor patients' tidal breathing. The n-Tidal device measures the volume of air exchanged during normal breathing and provides valuable information about lung function. For instance, in August 2023, TidalSense, a UK-based respiratory technology company, launched N-Tidal, a regulated AI technology for chronic obstructive pulmonary disease (COPD) diagnosis and management. The technology combines N-Tidal's CO2 sensor data with an artificial intelligence platform to measure changes in lung function, aiming to improve the diagnosis and management of this respiratory condition. Clinical studies have demonstrated the technology's high accuracy, and it is expected to reform the diagnostic process for respiratory diseases. The launch is a significant development in the use of AI for respiratory disease assessment, offering a more comfortable and efficient alternative to existing diagnostic tests.
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Major Key Players of the Market:
Siemens Healthineers, Philips Healthcare, General Electric (GE) Healthcare, Verily Life Sciences LLC, DeepMind Health, Merative L.P., Innovaccer, Freenome, Aidoc Medical, Butterfly Network, Infervision, Imagen Technologies, Caption Health, Gauss Surgical Inc., Swaasa AI, Inspirata Inc., VIDA Diagnostics Inc., Enlitic, Thirona B.v., ArtiQ , Icometrix, Zynnon AG, Aidence, Arterys, Dectrocel Healthcare, PneumoWave Ltd.
Artificial Intelligence (AI) In Respiratory Diseases Market 2024 Key Insights:
• The artificial intelligence (ai) in respiratory diseases market is expected to grow to $9.35 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%.
• AI Revolutionizing Respiratory Health Addressing The Impact Of Growing Environmental Pollution
• TidalSense Launches N-Tidal Device For AI-Driven Respiratory Disease Management
• North America was the largest region in the artificial Intelligence (AI) in respiratory diseases market in 2023
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