Ostem Implant Surpasses 1 Trillion KRW in Sales for the First Time Last Year... Overseas Sales Account for 64%

First Medical Device Industry to Exceed 1 Trillion KRW in Sales Excluding Diagnostic Devices
Asia Region Sales Surpass Domestic Sales
Operating Profit Also Up 64.7%

Osstem Implant recorded sales exceeding 1 trillion KRW for the first time in its history last year.

Osstem Implant Magok Central Research Center. [Photo by Osstem Implant]

On the 16th, Osstem Implant announced in its business report that its sales last year amounted to 1.0537 trillion KRW, a 27.8% increase compared to the previous year. Operating profit during the same period also rose by 63.7% to 234.7 billion KRW.

Achieving sales in the 1 trillion KRW range is the first among domestic dental implant companies. It is also the first in the medical device industry, excluding in vitro diagnostic device companies that benefited from the COVID-19 boom.

Osstem Implant showed growth in both domestic and overseas sales last year. Domestic sales reached 376.5 billion KRW, up 16.9% from the previous year. Overseas sales grew by 34.7%, reaching 677 billion KRW. Notably, the proportion of overseas sales surpassed 50% for the first time in 2017 and rose to 64.3% after five years.

By region, the European market showed remarkable growth. Sales increased by 42.4% year-on-year, reaching 136.5 billion KRW. This is the first time European sales exceeded 100 billion KRW. Osstem Implant is strengthening its sales support system by activating online education systems and promotional marketing using major media in Europe. This year, it plans to actively expand local subsidiaries across European countries, starting with Spain and France.

Sales in the Americas region increased by 25.2% year-on-year to 115.4 billion KRW, marking the first time sales exceeded 100 billion KRW. This success is attributed to the establishment of the US local production brand HIOSSEN and the sales network built around East and West Coast cities.

Sales in the Asian region, excluding domestic sales, grew by 35.1% compared to the previous year, reaching 425.1 billion KRW, surpassing domestic sales for the first time. Although there were challenges such as continued economic downturn due to repeated COVID-19 lockdowns in the largest market, China, and signs of delayed implant demand ahead of the implementation of the centralized purchasing (VBP) policy, the company explained that flexible sales strategies and product differentiation contributed significantly to maintaining stable growth.

An Osstem Implant representative stated, "By 2026, we will secure 46 countries and 50 overseas subsidiaries to firmly establish a global sales network," adding, "We aim to increase the proportion of overseas sales to 70% by 2026, laying the foundation to become the world’s number one implant company and, further, the world’s number one dental company."