Goyoung Technology has been soaring for two consecutive days. The news that it received certification (510k) from the U.S. Food and Drug Administration (FDA) for its brain surgery medical robot appears to be influencing the stock price.
As of 2:04 PM on the 21st, Goyoung is trading at 14,800 KRW, up 21.11% from the previous day.
Goyoung successfully developed a brain surgery medical robot independently by participating in a national project led by the Ministry of Trade, Industry and Energy. Subsequently, major domestic hospitals have consecutively adopted it, using it in high-difficulty brain disease surgeries such as Parkinson's disease and epilepsy, gaining recognition for its precision and safety. The certified brain surgery medical robot is a product called 'Geniant Cranial,' the global version of 'KYMERO.' Utilizing artificial intelligence (AI) learning functions, it analyzes medical images, optimizes surgical routes, and predicts and responds to various situations that may occur during surgery.
Lee Sangheon, a researcher at iM Securities, explained, "KYMERO can be used in various neurosurgical operations for brain diseases," adding, "By combining navigation and robotic systems, it can improve surgical success rates and accuracy." He continued, "It reduces patients' pain and risk of complications, improving prognosis, and presents a new paradigm in the field of brain surgery," emphasizing, "With over 500 successful brain surgeries accumulated, the sales growth rate is expected to accelerate year by year."
The United States is the world's largest medical device market, with increasing demand from medical staff and patients for minimally invasive surgeries using robots. Additionally, there are about 1,400 neurosurgery hospitals capable of performing brain surgery.
According to market research firm Transparency Market Research, the global robotic surgery market size is expected to grow from $7.9 billion (approximately 11 trillion KRW) in 2022 to $20.8 billion (approximately 30 trillion KRW) by 2031, at an average annual growth rate of 11.1%. Due to advancements in robotic technology and increased demand for precision medicine, robotic surgery is rapidly expanding in various fields such as neurosurgery, orthopedics, and general surgery.
A Goyoung official stated, "Since we have received FDA certification, sales can begin immediately, so we expect the company's performance to expand significantly through the medical robot business," adding, "We will also focus on the ongoing approval process in Japan and do our best to achieve successful overseas expansion results."
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