South Korean medical AI company Lunit has announced it is expanding its global presence after securing a new international distribution deal and major market approvals.
It also claims it has become the first software as medical device developer in Asia-Pacific to have received both certifications - the UK Conformity Assessed marking and CE marking under the latest Medical Device Regulation in Europe. Lunit INSIGHT solutions are already embedded in some major global PACS and imaging devices by global vendors such as GE Healthcare, Philips, and Fujifilm.
Earlier in November, Lunit signed a global distribution agreement with California-based healthcare platform CARPL.ai. Under this deal, the two popular Lunit INSIGHT solutions, INSIGHT CXR for chest x-ray image analysis and INSIGHT MMG for mammography analysis, will be delivered through CARPL.ai's end-to-end deployment platform, which currently runs across five markets: the United States, Australia, Brazil, India, and Singapore.
Both Lunit INSIGHT CXR and MMG are now being clinically used in approximately 1,000 hospitals and medical institutions worldwide.
According to Statista, the South Korean diagnostic imaging market is expected to reach $1.02 billion in market volume by 2027, growing at a 6% CAGR from 2022.
In recent years, South Korean AI imaging companies like Lunit have been securing local and international approvals and deals to meet the growing demand from hospitals. Lunit has become one of the preferred suppliers of AI imaging solutions for South Korean military hospitals as part of the Armed Forces Medical System AI Transformation project. It is set to deliver its technology across 30 medical sites of the Korean army, air force and navy.
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