Lunit "Medical AI Solution Adoption Surpasses 2,000 Global Institutions"

"Doubling in 5 Months"

Medical AI company Lunit announced on the 4th that the number of medical institutions worldwide adopting its AI imaging diagnostic solution 'Lunit INSIGHT' has surpassed 2,000.

Trend of Institutions Adopting Lunit Insight.
[Image provided by Lunit]

Previously, Lunit exceeded 1,000 adopting medical institutions in October last year, three and a half years after launching the chest X-ray image analysis solution 'Lunit INSIGHT CXR' and the mammography image analysis solution 'Lunit INSIGHT MMG' in April 2019. Since then, the number of clients doubled in about five months, surpassing 2,000 institutions.

Among all medical institutions, 84% were overseas customers. The number of overseas adopting institutions more than doubled from 770 in October last year to 1,680 as of the 31st of last month. During the same period, domestic hospitals adopting the solution increased by about 40%, from 230 to 320. As the number of adopting institutions grew, sales also increased, rising from 1.4 billion KRW in 2020 to 6.6 billion KRW in 2021, and 13.9 billion KRW in 2022.

Seobum Seok, CEO of Lunit, said, "The Lunit INSIGHT product line rapidly expanded its market after obtaining approvals from global regulatory agencies such as the U.S. Food and Drug Administration (FDA), Health Canada, as well as agencies in North America, Taiwan, and Europe. It is estimated that Lunit products account for over 80% of AI adoption in X-ray and mammography-related institutions worldwide, and we expect the market share to increase further."

Lunit INSIGHT CXR is an AI-based product that diagnoses 10 types of chest diseases, including lung cancer, pulmonary nodules, pulmonary fibrosis, and pneumothorax, with 97-99% accuracy. Lunit INSIGHT MMG assists medical professionals by detecting the presence of breast cancer in mammography images with 96% accuracy.