Boditech Med Holds Completion Ceremony for New Manufacturing Plant in India

• New factory established in Jhajjar, India to enhance price competitiveness through local production

• Targets $75 million (approx. 100 billion KRW) in sales from the Indian market; aims to serve as a strategic hub for South Asia and the Middle East

• Pilot production underway, with full-scale manufacturing to begin in Q3 for faster and more cost-effective supply

Boditech Med, a global leader in point-of-care diagnostics, announced on the 7th that it held a successful completion ceremony for its new manufacturing facility located in Jhajjar, India. The new plant is a key part of the company’s strategy to strengthen its presence in the Indian, South Asian, and Middle Eastern markets through local production and enhanced cost competitiveness.

The event was attended by Boditech Med CEO Eui-yeol Choi, Sung-ho Lee, Ambassador of the Republic of Korea to India, local government officials, key partners, and regional leaders.

The Jhajjar facility spans 10,032 square meters (approx. 3,035 pyeong) and will initially focus on the production of high-demand diagnostic kits, including TSH, T3, T4 (thyroid function) and HbA1c (glycated hemoglobin). Production is planned to gradually expand to include a wider range of ichroma™ diagnostic kits.

Currently, pilot production is underway for four diagnostic products, and local manufacturing approvals are expected to be completed by the first half of this year. Full-scale mass production and sales are scheduled to begin in Q3 2025, which is expected to reduce production costs and logistics expenses while enabling faster product supply across the region.

Since entering the Indian market in 2015, Boditech Med has recorded an average annual growth rate of 34%, with 2024 sales reaching $9 million (approx. 12 billion KRW). With the new facility as a foundation, the company plans to further accelerate growth and aims to achieve $75 million (approx. 100 billion KRW) in annual sales and over 5% market share in India by 2030.

Eui-yeol Choi, CEO of Boditech Med, stated,

“India, now the world’s most populous country, is experiencing a rapid surge in demand for point-of-care diagnostics. The primary objective of the new plant is to increase our market share in India, while gradually scaling production to establish it as a strategic base for broader expansion into South Asia and the Middle East.”

He added,

“In the mid- to long-term, our headquarters in Chuncheon will focus on the production of automated AFIAS diagnostic solutions, while ichroma™ products will be manufactured across both domestic and overseas production bases.”