In 2015, Seegene took steps toward the establishment of an overseas subsidiary in the U.S., which is currently the largest market for molecular diagnostics in the world. As the world’s largest medical equipment market, the U.S. is conducting a number of massive hospital construction projects. With the rise of aging societies worldwide, the overall demand for medical devices and equipment is increasing steadily. However, it is very difficult in reality for foreign technologies and products to enter the American medical equipment market. Nonetheless, Seegene has pushed forward with its plan to establish a U.S. subsidiary to sell its Korean-made technology in the U.S. market.
For the past seven years, Seegene has participated in the annual meeting of the AACC (American Association for Clinical Chemistry), the largest of its kind in the world, where it has been consistently recognized by major players in the U.S. molecular diagnostics market for its advanced technology. Seegene has received positive reviews every year from buyers of all over the world, for the outstanding quality and reasonable price range of its technology and products. Thanks to the success of its annual presentations, Seegene has landed several large contracts with global companies and continues to increase its business volume. Through those contracts, Seegene has acquired various types of ODM development and, with the introduction of a quality control system that meets international standards, it has established a foundation upon which it can enter the U.S., Canadian, and South American markets. As such, Seegene demonstrates high potential for growth and expansion.
While taking into consideration the regulations of host countries and local marketability, Seegene engages in the establishment of local subsidiaries as part of its strategy to expand its global business presence. In the global molecular diagnostics, the U.S. market share of over 45 percent and Seegene is stepping up to become the most recognized Korean molecular diagnostics company in the U.S.