According to a Research and Markets study, the global fetal monitoring market is projected to reach $5.2 billion by 2027. In 2022, UNC-Chapel Hill received a $17 million grant from the Bill & Melinda Gates Foundation to continue work in artificial intelligence (AI)-enabled obstetric ultrasound.

Data from World Health Organization shows that 300,000 women and three million babies die each year during childbirth or post-childbirth due to several factors, including underperforming health systems, environmental and structural factors, underlying infectious disease burden and nutritional factors.

In December 2022, French AI-based software company Sonio received €10 million from the European Innovation Council (EIC) accelerator. To date the company has raised €15 million. Sonio offers stand-alone AI SaaS software that works with any ultrasound machine device to increase prenatal ultrasounds' accuracy.

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