Biotem aims to be global top 10 by 2030

[Source : Biotem]

Biotem Co., a Korean dental implant manufacturer, aims to lay the groundwork this year to be one of the world’s top 10 companies in the industry by 2030, the company’s chief executive Lee Young-ho vowed on Thursday.

Founded in 2008, Biotem made a debut on the K-OTC market on Dec. 28 last year.

The company, in which about 200 dentists participate as shareholders, plans to achieve a goal to join the global top 10 dental implant business group through steady sales growth and stable financing through the local capital market.

Biotem achieved 10.5 billion won ($8.27 million) in sales and 1.5 billion won in operating profit in 2022, and it projects 18 billion won in sales and 4 billion won in operating profit for this year, and 23 billion won and 8 billion won for next year.

Biotem has been active in going global since its establishment. The company currently exports implant and other dental treatment products to more than 20 countries, including the United States, Russia, Turkiye, Vietnam and Iran, and overseas sales account for more than 85 percent of its total sales.

The global dental implant and prosthesis market is expected to grow at 7.6 percent per year to $14.8 billion this year from $9.5 billion in 2017. In Korea, about 600 per 10,000 people receive implant, and 80 percent of dentists perform implant surgery. The Korean market is expected to grow at 10.8 percent per year to about $400 million this year from 2016.