Seegene, SD biosensor, etc.
Expansion of new diagnostic kit development territory
To secure future growth engines
Developing a continuous blood glucose meter
Establishment of lithium mining and investment company
Enlarge photo The in vitro diagnostic medical device industry, which grew rapidly during the COVID-19 pandemic, is accelerating to secure new growth engines. They appear to be busy increasing the proportion of sales of other diagnostic products and seeking to diversify their business with the enormous amount of cash they earned from selling coronavirus diagnostic kits around the world.
According to related industries on the 12th, SD Biosensor, which quickly rose to the ranks of large companies with its coronavirus diagnostic kit, is currently focusing on expanding the indications for its flagship molecular diagnostic product. A representative example is the attempt to expand into a diagnostic device that can perform various tests other than Corona. It launched seven new products, including those for influenza, tuberculosis, respiratory syncytial virus (RSV), and human papillomavirus (HPV), and completed registration for the European In Vitro Diagnostic Medical Device Certification (CEOIVD) in May.
SD Biosensor plans to accelerate its efforts to target global markets, including the U.S. Food and Drug Administration (FDA), World Health Organization (WHO) Emergency Use List (EUL), Health Canada, and China Medical Device Approval (CFDA). According to market research firm Markets & Markets, the global in vitro diagnostic medical device market size is expected to grow at an average annual rate of 7.2% from $78.691 billion (approximately KRW 108 trillion) in 2023 to $119.448 billion (approximately KRW 164 trillion) in 2029. am.
Seegene, a molecular diagnostics company, is pursuing a ‘technology sharing business’ as a platform strategy. This business provides the company’s syndromic quantitative gene amplification (PCR) technology and know-how free of charge to diagnostic companies around the world and develops and produces locally customized products. Recently, we are gaining speed by demonstrating initial achievements related to artificial intelligence (AI)-based development automation with key partners Microsoft (MS) and Springer Nature.
The developed products are sold through Seegene’s distribution network. Seegene plans to cooperate with 100 companies by 2028. To build the platform, it acquired 100% of the shares of Brex, a domestic information technology (IT) company, in January last year.
Osang Healthcare selected continuous blood glucose monitoring (CGM), which can determine changes in blood sugar levels in the body without collecting blood, as a new business. To this end, it invested 49.7 billion won in CGM company Ale Health last April. A company official said, “As a future growth engine, we plan to launch continuous blood glucose monitors and new products, localize production bases, and advance into new businesses.” He added, “We aim to launch the continuous blood glucose monitor in Korea in 2026 after undergoing main clinical trials next year.” .
Self-contained continuous blood glucose monitors offer great convenience and scalability. This is because you can measure blood sugar without painfully pricking your finger and bleeding. A continuous blood glucose meter measures blood sugar using interstitial fluid (liquid between tissue cells), which is located in capillaries close to the skin, so simply attach the meter to the abdomen or forearm. Above all, you can monitor blood sugar trends and patterns continuously for 24 hours.
Humasis, which has been producing in vitro diagnostic devices for point-of-care testing (POCT) since 2000, is attempting to diversify its business into completely different fields. In order to secure lithium minerals, a key raw material for secondary batteries, we secured a promising mining area in Zimbabwe and began physical exploration. Promising areas for pegmatite deposits containing lithium have been identified through magnetic exploration and radioactive surveys, and trench exploration is being conducted for a total length of approximately 6,000 m in 20 mines. A company official said, “We plan to conduct a diamond drilling exploration by comprehensively analyzing the results of previous investigations.”
Sugentech, a convergence technology-based in vitro diagnostic company, officially launched a corporate-led venture capital (CVC). Its subsidiary, Pium Investment, acquired a new technology business finance company license from the financial authorities in August of this year and prepared for investment activities. Pium Investment is a corporation established by Sugentech in December last year with an investment of 12 billion won. As Sugentech is rooted in the bio and healthcare fields, Pium Investment is also expected to make investments focusing on these fields.
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