GeneReach Biotechnology’s efforts to expand its PCR testing market in the ASEAN region are showing promising results. In addition to continued orders for swine fever testing kits from Thailand, the company's Vietnamese distributor is set to launch a mobile African swine fever testing program in the fourth quarter. Furthermore, the company's expansion efforts in Central and South America, as well as the Middle East, are progressing rapidly, indicating a positive operational outlook.
GeneReach reported September revenue of NT$14.66 million, representing a year-on-year increase of 6.22%. Cumulative revenue for January to September totaled NT$152 million, a year-on-year decline of 11.2%. However, the company noted that the rate of revenue decline has narrowed, and it has started to see results from its diversified market expansion strategies for PCR testing.
As fall and winter seasons typically see a rise in respiratory diseases among poultry and swine, there are growth opportunities in the livestock market. In addition to Thailand’s continued orders for swine fever testing kits, the Vietnamese distributor’s African swine fever mobile testing initiative in the fourth quarter is expected to boost revenue.
Additionally, at the Saudi Agriculture Exhibition, held from October 21-24, GeneReach will introduce a new paratuberculosis testing kit. This product is designed for health management in ruminants, aimed at reducing economic losses from decreased milk production and weight loss caused by the disease. The company expects this new product to contribute to its revenue growth.
In the companion animal market, GeneReach has also seen strong performance. The installation rate of its systems continues to rise in Taiwan, and sales in countries like the UK, Mexico, UAE, and Saudi Arabia are progressing steadily. The company is actively expanding into the Japanese, Korean, and French markets and will showcase its product lineup at the FAVA conference in Korea from October 25-27.
In the forensics market, GeneReach’s cannabis testing kits are currently undergoing sample verification in the U.S., with plans to target markets in Saudi Arabia and other Asian countries through local exhibitions and collaborations with forensic institutions.
Looking ahead to the fourth quarter of 2024, GeneReach expects its efforts in expanding the PCR testing market to yield further results. The company’s product portfolio optimization, combined with the promotion of the POCKIT Central system, is expected to drive continued growth in the aquaculture, livestock, and companion animal sectors. Furthermore, the company’s aggressive entry into new markets in Central and South America, as well as Europe and Japan, is expected to provide additional momentum for its full-year revenue growth.
Resource (mandarin): 瑞基拓展東協PCR檢測市場見成效 營運漸入佳境
