Seegene, a diagnostics corporations that surpassed 1 trillion won in annual sales during the COVID-19 boom, is seeking a rebound by focusing on non-respiratory testing. Sales, which had slumped to the 300 billion won range with the COVID endemic, are projected to top 500 billion won again this year.
On the 24th, financial data firm FnGuide said Seegene's consolidation sales for this year are expected to be 532.3 billion won, with operating profit at 78.4 billion won. Sales would be up 12% from last year, and operating profit up 127%. Net profit is forecast at 91 billion won, an 88% increase from last year.
Seegene emerged as a leading beneficiary corporations during the pandemic by launching COVID test kits. Seegene's consolidation sales jumped from 122 billion won in 2019 to 1.1252 trillion won in 2020, up more than 820% in a year as testing demand surged. In 2021, they peaked at 1.3708 trillion won.
But as COVID ended and testing demand plunged, results fell quickly. Seegene's sales fell to 853.6 billion won in 2022 and then to 367.4 billion won in 2023. Compared with the peak, that is a decline of more than 70%.
Seegene is seeking a recovery by reshaping its business around non-respiratory testing. Seegene's sales are on the rise, to 414.3 billion won in 2024 and 474.2 billion won in 2025. Securities firms expect sales to climb back to the 500 billion won range this year.
At the center of the rebound are diagnostics for human papillomavirus (HPV), sexually transmitted infections, and gastrointestinal infections. In the first quarter, Seegene's sales from these non-respiratory tests each rose more than 30% from a year earlier.
HPV is transmitted through sexual contact and is cited as a cause of cervical cancer. Seegene's HPV diagnostics can test for 28 types, including high-risk and low-risk groups. A Seegene official said, "In the first quarter this year, the HPV product won major bids, and testing demand is increasing."
Sexually transmitted infection diagnostics are also seen as a growth pillar. Because STIs can spread to others even without symptoms, accurately identifying the causative pathogens is important. Seegene says it can test for multiple pathogens at once, including chlamydia, gonorrhea, and Ureaplasma. In addition, gastrointestinal infection diagnostics that detect norovirus and rotavirus are also lifting sales.
Seegene is investing not only in test types but also in technology. It is fostering Qureqa and StarGora—platforms that automate PCR (polymerase chain reaction) testing and analyze results in real time—as mid- to long-term growth drivers.
Qureqa automates the PCR testing process. From specimen loading to pre-processing, nucleic acid extraction, amplification, and result analysis, it can run unattended without manual work. The company says it can streamline repetitive testing steps and reduce errors.
StarGora collects PCR test results in real time and analyzes them. Medical staff can track overseas infectious disease trends. A company official said, "We are accelerating final preparations for Qureqa's commercialization," adding, "We plan to focus on expanding StarGora's overseas rollout."