[Click eStock] "JLK to Fully Expand Global Market in 2025"

Hana Securities forecasted on the 18th that JLKE's global market expansion will accelerate this year.

JLKE is a company providing AI-based medical imaging analysis and diagnostic solutions, leading the industry by obtaining the first AI medical device approval in Korea. In particular, it has developed a stroke AI solution that improves the accuracy of medical image analysis and is expanding its competitiveness in major overseas markets such as the United States and Japan. Additionally, it is strengthening cooperation with global medical institutions and diversifying its revenue model by building a cloud medical AI platform based on a SaaS model.

Researcher Kwon Tae-woo of Hana Securities stated, "The medical AI market is rapidly expanding due to population aging, medical workforce shortages, and advancements in precision medicine technology," adding, "Neurological diseases such as stroke require early diagnosis and prompt treatment, with approximately 11.95 million people worldwide experiencing it annually."

According to the UK NHS, stroke hospitalization rates have increased by 28% over the past 20 years, and in the United States, the stroke misdiagnosis rate is reported to be over 10%, highlighting the growing need for AI analysis technology. Japan is also accelerating the adoption of AI solutions to address medical workforce shortages and improve healthcare service efficiency.

JLKE is expanding its business mainly in the United States and Japan in line with this market growth trend. To date, it has received five approvals from the US FDA, and plans to apply for seven additional products and pursue certification for four products by 2025.

Researcher Kwon Tae-woo said, "In the US, we are collaborating with a global insurance consulting firm to proceed with the application of reimbursement procedures, and we are pushing to implement a fixed-rate compensation system based on DRG by the third quarter of 2025."

In Japan, after initially supplying through a major medical device distributor, JLKE plans to switch to a direct sales model to maximize profitability. Currently, three certifications have been completed with Japan's PMDA, and by 2025, JLKE plans to apply for eight medical products and pursue approval for four.

Researcher Kwon Tae-woo explained, "JLKE expects substantial sales growth through overseas market expansion in 2025," adding, "In the US, after obtaining insurance reimbursement, we plan to provide AI solutions to 200 medical institutions within the fourth quarter, expecting annual sales of $120,000 per institution."

In Japan, after completing distributor contracts in the first quarter, JLKE aims to supply solutions to 200 medical institutions by the fourth quarter, targeting revenue of 65 million KRW per institution. Accordingly, the 2025 sales target is set at 20 billion KRW (5 billion KRW in Korea, 8.5 billion KRW in the US, and 6.5 billion KRW in Japan). JLKE plans to accelerate FDA and PMDA certification processes and expand to 3,380 medical institutions in the US and 2,200 in Japan by 2028.

Researcher Kwon Tae-woo projected, "There is a high possibility of expanding the business into AI-based telemedicine and precision medicine solutions in the future," and added, "Considering the business structure and market environment, long-term growth drivers are expected to be secured."