[Click eStock] "Koh Young Targets Global Medical Robot Market with Brain Surgery Robot 'Kaimero'"

On May 12, iM Securities analyzed that Koh Young is accelerating its efforts to penetrate the global medical robot market, led by its brain surgery robot 'Kaimero'.

Lee Sangheon, a researcher at iM Securities, stated, "With increasing sales in the United States and other countries, Koh Young is set to become a leading player in the brain surgery robot sector." He projected, "The number of brain surgery robots to be installed this year is expected to exceed 20 units in total, and after three years, it will be possible to install more than 100 units annually."

Koh Young developed the brain surgery medical robot 'Kaimero' by leveraging optical, mechatronics, machine vision, software, and AI technologies accumulated through its research and development of industrial 3D measurement inspection equipment. This robot received manufacturing and sales approval from the Ministry of Food and Drug Safety in 2016, after which it was mainly sold to general hospitals in Korea. From 2020 to 2023, annual installations remained at around 1 to 2 units, but this year, sales of more than 8 units are expected in Korea alone.

Researcher Lee Sangheon explained, "Kaimero can be used in various neurosurgical procedures for brain diseases, and by combining navigation and robotic systems, it enhances surgical success rates and accuracy." He added, "As a result, it reduces patient pain and the risk of complications, improves prognosis, and is presenting a new paradigm in the field of brain surgery." In fact, Kaimero has accumulated a record of over 500 successful brain surgeries.

Koh Young is also accelerating its entry into the global market. In January this year, it obtained 510(k) certification from the U.S. Food and Drug Administration (FDA) for its Geniant Cranial product. Researcher Lee Sangheon noted, "There are currently 1,437 advanced neurosurgery hospitals in the United States where brain surgery medical robots can be sold, and Koh Young plans to focus its market strategy on 301 hospitals selected as priority targets."

To this end, Koh Young is conducting demonstrations and initial sales centered on nine hospitals affiliated with the U.S. Surgeon Advisory Board (SAB) and plans to expand to key hospitals in each of the 50 states in the future. At the end of April, the company participated in the American Association of Neurological Surgeons (AANS) conference held in Boston, where it introduced its products to U.S. medical professionals and received positive feedback.

Koh Young's Geniant Cranial is designed as the world's first bed-attached brain surgery robot, offering excellent operating room space utilization and adaptability to various patient positions. Its optical sensors enable real-time tracking of the robot's position and orientation, resulting in high surgical precision. Consequently, it demonstrates outstanding flexibility and a high success rate in actual surgical environments.

Researcher Lee Sangheon analyzed, "Based on these differentiating factors, installation of brain surgery medical robots in major U.S. hospitals is expected to begin in May, with more than 10 units likely to be installed in the U.S. this year alone." He added, "This will accelerate the accumulation of surgical references, making the expansion of installations in the U.S. increasingly visible." The average selling price (ASP) of brain surgery medical robots is around $1 million, which is expected to make a significant contribution to future revenue growth.

Koh Young also plans to enter other major global markets, including Japan, China, and Europe. In Japan, the company expects to complete PMDA certification by July this year, and with approximately 1,750 neurosurgery hospitals capable of performing brain surgery, more than five installations are projected within the year. In China, the company plans to apply for NMPA approval in October.

Researcher Lee Sangheon predicted, "This year, more than 20 brain surgery robots are expected to be installed in Korea, the United States, and Japan. Based on growth in major markets, it will be possible to install more than 100 units annually after three years," forecasting that Koh Young will emerge as a leading player in the brain surgery robot sector.