Domestic gene testing equipment and service provider Kim Forest Enterprise has successfully ventured into the next-generation sequencing (NGS) market, resulting in a June revenue of 49 million NTD, marking a 50.4% year-on-year increase. For the first half of the year, the company's revenue reached 218 million NTD, representing an 18.62% year-on-year growth.
Kim Forest Enterprise stated that their efforts in the NGS market are gradually yielding results, particularly in precision medical testing, with performance meeting expectations. From the third quarter onward, revenue is expected to grow month by month, contributing to a healthier annual revenue structure.
This year, Kim Forest Enterprise has refocused its operations on gene testing, significantly advancing NGS and LDTS certification, and enhancing the development and certification of testing products. In addition to the 523 cancer-related gene tests submitted for LDTS certification and the previously certified nine cancer and metabolomic tests, the company expects to soon receive certification for advanced gene tests, including blood tumors, comprehensive cancer tissue medication tests, and comprehensive cancer circulating nucleic acid tests, maintaining its leading position with the most approved projects in Taiwan.
Kim Forest Enterprise believes that as Taiwan enters a super-aged society, the aging population will drive a sharp increase in medical resources. National Health Insurance must utilize minimal resources to meet various medical service needs. Thus, precise testing services are essential for achieving precision medicine, precise prevention, and healthy aging, aligning with President Tsai’s vision of a healthy Taiwanese population.
According to gene testing equipment giant Illumina, the potential market size could reach 120 billion USD by 2027, covering cancer-related testing, genetic testing, regenerative medicine, and academic research-related testing. Currently, the market size occupies only 7%, less than one-tenth.
Cancer-related testing shows the highest growth potential, with the market size reaching 78 billion USD. Early cancer screening accounts for 44 billion USD, drug selection for 9 billion USD, and prognosis tracking for 25 billion USD. Over the next five years, NGS testing is expected to experience significant growth.
Kim Forest Enterprise noted that in May, cancer gene testing using next-generation sequencing (NGS) was included in National Health Insurance coverage. The conditions for coverage require companies to pass LDTS certification, with subsidies available for patients in stages three to four of cancer. Several hospitals have yet to complete the necessary preparations, and revenue from this segment is expected to increase gradually in the second half of the year.
As National Health Insurance continues to expand coverage for cancer testing and promote genetic testing, regenerative medicine, and other related tests, the business opportunities for precision medical services are expected to accelerate and grow substantially.
Resource (mandarin): 布局精準醫療業務有成 金萬林6月營收年增50.4％
