Phantomics officially announced that Myomics, non-invasive cardiomyopathy diagnostic solution, has received a medical device marketing authorization from the Thai Food and Drug Administration (TFDA).

Thailand, an ASEAN healthcare hub, provides national-level healthcare services and has a rapidly growing medical device market. Krungthai Research forecasts that Thailand's medical device market will grow at a compound annual growth rate of 6.1%, reaching a market size of about 4.48 trillion won in 2027, and Euromonitor forecasts that Thailand's medical tourism market will reach about 9 trillion won in 2027.

Myomics is being used in high-end general hospitals in Korea, Japan, China, Taiwan, and Singapore, and has obtained approval from the U.S. Food and Drug Administration (FDA) and the Korean Ministry of Food and Drug Safety. In addition, with the advent of completing the distribution/sales agreements with partners in Southeast Asia and Latin America, Phantomics gears up to proceed with local medical device licensing and approval efforts.

With the recent Thai FDA clearance, Phantomics expects to strengthen its overseas business by entering Thailand, the largest healthcare market in ASEAN, and generate sales along with securing various overseas licenses.

"We are pleased to be able to introduce our AI software to the Thai medical field through this FDA certification," said Kim Pan-ki, CEO of Pantomics.

Article: http://www.bosa.co.kr/news/articleView.html?idxno=2215718