[Click eStock] "Deepnoid, Medical AI Sector Sales Growth Expected"

NH Investment & Securities stated on the 7th that "sales growth in the medical AI sector is expected as Deepnoid's brain aneurysm detection solution, DeepNeuro, becomes available for use in medical institutions."

Junki Baek, a researcher at NH Investment & Securities, said, "We anticipate high growth based on securing additional clients with high demand for machine vision applications such as secondary batteries."

Medical AI, which is Deepnoid's main focus, requires deep domain knowledge. The company has its own medical personnel and has accumulated data by leveraging networks with university hospitals such as Seongmo Hospital and Chung-Ang University Hospital. Due to its early market entry, it is analyzed that Deepnoid has secured a certain level of entry barriers.

In addition to DeepNeuro, which has competitiveness in brain aneurysm analysis, orders for machine vision AI used in the secondary battery and display industries are also expanding significantly. The company is capable of building PACS (Picture Archiving and Communication System) and holds references from contracts with the Health Insurance Review & Assessment Service. This can be a strength in overseas business. Especially in the Southeast Asian market, as demand for CT and MRI increases compared to existing X-rays, the demand for Deepnoid's solutions is expected to be relatively large.

As an additional growth driver, sales of industrial and security solutions are also expected. Clients in the industrial sector include secondary battery vendors and display companies, while in the security sector, the airport corporation is anticipated. Regarding secondary batteries, growth is expected in equipment used for detecting foreign substances in assembly processes, and for displays, growth is expected in equipment used for detecting foreign substances in bonding and resin coating processes. High sales growth is expected from this year.

For 2024, sales of 14.6 billion KRW and a reduction in operating losses are expected. This year, industrial machine vision AI is estimated to have the highest sales proportion, accounting for more than half. In addition, good growth is expected in security sales for airports and customs offices as well as in the medical AI sector.