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AI-Powered Digital Auscultation Devices include the features of the digital stethoscope devices described above but apply AI algorithms only to the narrow-band audible information. Competitors in the market include Coala, EKO, and StethoMe. The accuracy of narrow-band AI disease classification is inherently inferior since it is based on less data than Sanolla’s full-spectrum solutions. These competitors are more focused on either cardiac auscultation or pulmonary while Sanolla provides both cardiac and pulmonary auscultation along with AI.
Opportunity and market size
The markets in which Sanolla operates are massive and include end-users suffering from chronic diseases who will purchase the PyXy and use it in their private home. This market is estimated at $480 billion calculated from a combination of the device’s acquisition costs and SaaS subscriptions. Insurance companies and health funds are expected to encourage these purchases as they save capital for health systems and insurance coverage.
VoqX is designed for use in any clinic with an emphasis on hospitals, ambulances, and intensive care. The total market is estimated at $18 billion and consists of a combination of pre-device costs and SaaS subscriptions. The company can already see high demand and interest in the product from these huge customers including signing terms documents.