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South Korean Firms Make Strides in the European Medical AI Market

TL;DR

  • South Korean AI firms are shaping the future of healthcare in Europe with cutting-edge technology.
  • Partnerships and acquisitions by South Korean companies underscore a global strategy to enhance healthcare access and innovation.
  • The integration of AI in healthcare diagnostics and treatment represents a transformative era in medicine, focusing on better outcomes and inclusivity.

EU countries experience the strong presence of South Korean medical artificial intelligence (AI) companies, which are worth $155 billion worldwide. This makes the EU the second-largest artificial intelligence marketplace after the USA. The move reflects a strategic initiative of South Korean companies to access international markets, with state-of-the-art technology putting them in a perfect position to tackle the global healthcare dilemma.

Lunit, a pioneer in the world of medical AI leader from South Korea, recently secured several contracts across Europe, indicating its increasingly expanding influence and clearly demonstrating the patients’ need for innovations in health care. Highlighting one of its new partnerships, Lunit will join TeLiteDiag (France’s largest teleradiology group) and offer it an early diagnosis tool for lung disease. The collaboration with the hospital marks a strategic move for Lunit in tackling pulmonary diseases by using AI diagnostics at the frontline of combatting the diseases.

Also, Lunit’s technology will act as a vital element of the scanning system for breast cancer in Portugal. Lunit’s, a South Korean AI company, will deploy a mammography analysis tool in the central region branch of the Portuguese Soccer League Against Cancer, which is responsible for the national breast cancer screening program in Portugal. This project envisages the analysis of mammograms of more than 100,000 patients, with three years of creating a demonstration of AI’s contribution to the diagnosis and treatment of cancers.

Expanding AI healthcare solutions in Europe

The Korean company Coreline helped set foot in Europe through a wide range of contracts, attaining the screening software AVIEW LCS already plus. This software, able to search through chest X-rays for the presence of lung nodules, pulmonary emphysema, and coronary artery calcium, LungUse will be employed by the University Hospital Lausanne in Switzerland, authoritatively corroborating Coreline Soft’s market dominance after the tough bidding process.

In France, both the Bichat–Claude Bernard Hospital, one of Europe’s biggest hospital gatherings, and the Foch Hospital in Suresnes integrated Coreline into their overall setup for lung disease research. Besides, the Hospital de Heimar in Barcelona, Spain, has incorporated Coreline’s AI tool into its lung cancer clinical research project, enhancing its role in technological advancements in medical research and patient care.

Strategic acquisitions and collaborations

In its bid to offer wider services to an enlarged group of customers, Zeno Health, a pharmacy retail chain, has just purchased Tablt, a startup that deals in e-pharmacy. That revealed by the Times of India indicates Zeno Health’s motive to conquer the rural marketplace, which is virtually inhabited by TablT franchisees delivering medication to about 200,000 customers but with relatively fewer branches with about 300 locations. The goal of Zeno Health is to be represented in 1,000 franchise networks by the end of the five-year term. This clearly reveals that the expansion plan of the company is refined to serve a larger number of people through its activities.

Aside from this, Kakao Healthcare is allying with Brave Company so that they may both come up together regarding exercise content, which teaches blood sugar management. This creates a synergy between PP to make content for the healthy eating and exercise programs that will be distributed through Brave’s platforms and Kakao’s newly launched mobile app, Pasta. Firstly, the pilot is not only aimed at illustrating the coexistence of technology and healthcare but also demonstrating a proactive approach to diabetes prevention with reliance on lifestyle maneuvers.

A new Era in healthcare technology

South Korean-affiliated firms seeking the European health AI market and the follow-up of groundbreaking purchasing agreements and partnerships are the conspicuous signs of the forthcoming transformative era in medicine. 

This shows the high level of involvement in the deployment of AI and technology in healthcare; the main factors are better results and inclusiveness. As these companies keep on coming out with novel solutions and broadening their horizon to become global leaders in this sector, they directly contribute to the advanced metamorphosis in the health sector and, thus, accentuate the fact that technology has an inimitable role to play in tackling some of the most significant health barriers of our times.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Glory Kaburu

Glory is an extremely knowledgeable journalist proficient with AI tools and research. She is passionate about AI and has authored several articles on the subject. She keeps herself abreast of the latest developments in Artificial Intelligence, Machine Learning, and Deep Learning and writes about them regularly.

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