PRESS RELEASE
Published September 21, 2023
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global AI in Respiratory Diseases Market– (By Indication (Chronic Obstructive Pulmonary Disease, Interstitial Lung Disease, Pulmonary Infection), By Imaging Type (MRI, CT Scan, ePRO), By End-use (Hospital, Diagnostic Centers, Ambulatory Surgical centers, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global AI in Respiratory Diseases Market is expected to show a CAGR of 29.4% during a forecast period of 2023-2031.
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AI (Artificial Intelligence) has made significant strides in diagnosing, managing, and researching respiratory diseases, offering innovative solutions to improve patient care and outcomes. Diagnostic techniques for respiratory illnesses are typically used to identify and treat respiratory problems at their earliest, most treatable stages.
AI in Respiratory Diseases Market expansion is driven by the importance of high-resolution CT in diagnosing fibrotic Lung illness. Idiopathic pulmonary fibrosis can be diagnosed without a lung biopsy if a high-resolution CT scan shows signs that are similar to those of normal interstitial pneumonia. In addition, because the number of people suffering from chronic diseases and breathing problems continues to rise, the application of AI to the treatment of respiratory ailments is rapidly growing in popularity around the world.
An extraordinary boom in the volume and complexity of healthcare-related data is being generated by the emergence of new digital tools, particularly in areas like genomics, diagnostic imaging, and electronic health records. As a result of this meteoric growth, an increasing number of AI-based applications with direct therapeutic relevance have been created. However, the expansion of the respiratory diseases market may be hampered by the fact that consumers may not be aware that there are other options for treating lung contaminations.
List of Prominent Players in the AI in Respiratory Diseases Market:
- ArtiQ
- Dectrocel Healthcare
- DeepMind Health
- GE Healthcare
- Icometrix
- Infervision
- Philips Healthcare
- PneumoWave
- Respiray
- Siemens Healthineers
- Swaasa AI
- THIRONA
- Verily
- VIDA Diagnostics Inc
- Zynnon
Market Dynamics:
Drivers-
The growing demand for AI in respiratory diseases is fueled by the ever-increasing need for individualized care. The worldwide market for individualized care is fueling the expansion of AI applications in respiratory disease medicine. Medical therapies for respiratory illnesses will consider patient characteristics, including genetics, lifestyle, and the environment. As a result, the need for AI in respiratory diseases is expected to increase in the coming years.
Challenges:
The prime challenge is the need for familiarity with other methods, strict regulations, and drug adverse consequences markets because of lockdowns and isolation in emerging countries, which is predicted to slow the growth of AI in the respiratory diseases market.
However, Worldwide, people are increasingly at risk for developing serious health issues like diabetes, cancer, heart disease, and respiratory illnesses like chronic and obstructive pulmonary disease (COPD). The rising number of people living with chronic conditions is a major driver behind the use of AI in the treatment of respiratory ailments. In a major way, COVID-19 has influenced the expansion of the global AI in the respiratory diseases market. The recent COVID-19 epidemic demonstrated the importance of artificial intelligence in handling medical emergencies and advancing our understanding of complex diseases.
Regional Trends:
The North American AI in respiratory diseases market is anticipated to record a major market share in terms of revenue. It is projected to grow at a high CAGR in the near future due to AI in respiratory diseases medicine produced in the area, and the industry invests much in R&D to boost the effectiveness of pharmacies. Increased pharmacy sector innovation and public awareness have led to a rising demand for AI in respiratory diseases in North America. Besides, Europe had a substantial share of the market because of a rise in both medicine availability and consumer awareness, and AI in respiratory diseases has become increasingly popular.
Moreover, the existence of key market players and the growing cooperation between major players for market penetration in the area enables an opportunity to grow the global AI in the respiratory diseases market.
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Recent Developments:
- In August 2023, Siemens Healthineers introduced the Acuson Origin1, a cardiovascular ultrasound system equipped with advanced AI functions. By addressing diagnostic, structural heart, electrophysiological, and pediatric treatments, the Acuson Origin aims to enhance patient outcomes and aid clinicians in performing minimally invasive cardiac procedures more effectively.
- In Nov 2021, A collaborative agreement has been established between GE Healthcare and Optellum with the aim of advancing the precision diagnosis & treatment of lung cancer. The collective efforts of these firms aim to tackle a significant obstacle in the detection of lung cancer, specifically aiding healthcare personnel in accurately assessing the cancerous nature of a lung nodule.
Segmentation of AI in Respiratory Diseases Market-
By Indication-
- Chronic Obstructive Pulmonary Disease
- Interstitial Lung Disease
- Pulmonary Infection
By Imaging Type –
By End-use –
- Hospital
- Diagnostic Centers
- Ambulatory Surgical centers
- Others
By Region-
North America-
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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