Development of ‘smart endoscopy’ technology that automatically adjusts insertion direction and position
Reduces hand tremor and operator fatigue
“Using artificial intelligence (AI) to control not only image analysis but also the movement of gastrointestinal endoscopes for the stomach and colon is something unique to MedInTech’s products worldwide.”
Lee Chi-won, CEO of MedInTech (pictured), said on the 30th, “We aim to change the paradigm of the endoscopy market.” The global gastrointestinal endoscopy market is dominated by Japanese companies such as Olympus and Fujifilm, which together account for around 90% of market share. Founded by Lee in 2020, MedInTech is the only Korean company to challenge this market.
The company has differentiated itself by developing the world’s first endoscope driven by an electric motor. Most existing endoscopes are mechanical. In mechanical systems, the control section—where physicians manually adjust the insertion direction of the endoscope inside the patient’s body—contains many components. This section alone weighs about 700 grams, making it burdensome to hold throughout an entire day of procedures. MedInTech reduced the weight of the control section by about half by redistributing key components to the main body connected to the endoscope.
Motorized endoscopy is also an essential technology for creating smart endoscopes. With conventional products, physicians must manually adjust the insertion direction, making operator skill critical. Incorrect direction control can cause injury to the gastrointestinal wall.
MedInTech’s product uses AI to analyze images and automatically determine the insertion direction. Even if the endoscope moves significantly during the procedure, it automatically readjusts to return to the original position. Lee explained, “This allows even less experienced physicians to use endoscopy safely.”
The company’s first product, which corrects hand tremors and reduces physician fatigue, received domestic market approval in August last year. Once a 200-patient clinical study conducted with Seoul National University Hospital is completed, MedInTech plans to begin full-scale sales in the fourth quarter of this year. Lee noted, “Endoscopes are consumables that need to be replaced after a certain period,” adding, “By supplying our products at a lower price than existing ones, we expect strong competitiveness.”
MedInTech is also preparing to enter Southeast Asian markets, including Vietnam, the Philippines, Indonesia, and Malaysia. The company expects to enter the U.S. market in the first quarter of next year. Lee added, “At Digestive Disease Week (DDW 2024) held in May, interest from Latin American physicians was particularly high,” and said, “We are also preparing to expand into Latin America.”
Oh Hyun-ah, Reporter
5hyun@hankyung.com
https://www.hankyung.com/article/2024063015621
Development of ‘smart endoscopy’ technology that automatically adjusts insertion direction and position
Reduces hand tremor and operator fatigue
“Using artificial intelligence (AI) to control not only image analysis but also the movement of gastrointestinal endoscopes for the stomach and colon is something unique to MedInTech’s products worldwide.”
Lee Chi-won, CEO of MedInTech (pictured), said on the 30th, “We aim to change the paradigm of the endoscopy market.” The global gastrointestinal endoscopy market is dominated by Japanese companies such as Olympus and Fujifilm, which together account for around 90% of market share. Founded by Lee in 2020, MedInTech is the only Korean company to challenge this market.
The company has differentiated itself by developing the world’s first endoscope driven by an electric motor. Most existing endoscopes are mechanical. In mechanical systems, the control section—where physicians manually adjust the insertion direction of the endoscope inside the patient’s body—contains many components. This section alone weighs about 700 grams, making it burdensome to hold throughout an entire day of procedures. MedInTech reduced the weight of the control section by about half by redistributing key components to the main body connected to the endoscope.
Motorized endoscopy is also an essential technology for creating smart endoscopes. With conventional products, physicians must manually adjust the insertion direction, making operator skill critical. Incorrect direction control can cause injury to the gastrointestinal wall.
MedInTech’s product uses AI to analyze images and automatically determine the insertion direction. Even if the endoscope moves significantly during the procedure, it automatically readjusts to return to the original position. Lee explained, “This allows even less experienced physicians to use endoscopy safely.”
The company’s first product, which corrects hand tremors and reduces physician fatigue, received domestic market approval in August last year. Once a 200-patient clinical study conducted with Seoul National University Hospital is completed, MedInTech plans to begin full-scale sales in the fourth quarter of this year. Lee noted, “Endoscopes are consumables that need to be replaced after a certain period,” adding, “By supplying our products at a lower price than existing ones, we expect strong competitiveness.”
MedInTech is also preparing to enter Southeast Asian markets, including Vietnam, the Philippines, Indonesia, and Malaysia. The company expects to enter the U.S. market in the first quarter of next year. Lee added, “At Digestive Disease Week (DDW 2024) held in May, interest from Latin American physicians was particularly high,” and said, “We are also preparing to expand into Latin America.”
Oh Hyun-ah, Reporter
5hyun@hankyung.com
https://www.hankyung.com/article/2024063015621