The popularity of South Korean companies’ COVID-19 diagnostic kits is on the rise worldwide and South Korean biotech companies’ global business opportunities are expanding at the same time.
“Early diagnosis and quarantine is the only way until a COVID-19 cure comes out and, as such, the importance of diagnostic reagents cannot but continue to increase,” professor Lim Chae-seung at the Department of Laboratory Medicine of the Korea University Guro Hospital said at the COVID-19 Special Session of Bio Korea 2020 held online on May 19.
At present, the number of COVID-19 infections confirmed after quarantine and treatment in South Korea is on the increase to add to concerns over additional infections. However, it is still unclear whether the cases are reactivation or reinfection. Specifically, the number of such cases rose to 447 on May 15.
Under the circumstances, South Korean companies’ COVID-19 diagnostic kits are in the spotlight as tools for early diagnosis. Diagnostic reagents developed by the six companies of Osang Healthcare, Seegene, SD Biosensor, Seasun Biomaterials, LabGenomics and GeneMatrix have received emergency use authorizations from the U.S. FDA. In addition, multiple companies such as SugenTech, Bioneer and BioCore are exporting their products to a large number of countries and Wells Bio, Philosys Healthcare, Humedix and Macrogen are about to follow suit.