Noccarc also intends to provide innovative medical devices to assist clinicians in making better decisions and to dramatically digitise the healthcare sector.
In the next six months, Noccarc, a Pune-based startup, expects to deliver four new ICU products that will meet worldwide compliance standards. It will introduce new medical equipment to assist clinicians in making better decisions and to dramatically digitise the healthcare sector.
The company also intends to expand into the US and European markets.
In the coming quarter, the business plans to deploy 600 or more ventilators. In addition, Noccarc’s income is predicted to increase to INR 150 crore in FY22, up from INR 15 crore in FY21.
During the second wave, Noccarc collaborated with a number of large CSR firms to place ventilators in hospitals around the country, with a high number of them being installed in government hospitals. Private hospitals accounted for 80 per cent of the deployments, with Maharashtra accounting for 23 per cent of the total ventilators deployed. Aside from that, the company has gotten direct orders for its ventilators from government agencies. In order to improve India’s care continuum.
Medical devices have a global market value of USD 400 billion, of which India’s market is worth USD 10 billion and is expected to increase at a 37 per cent CAGR to USD 50 billion by 2025. Noccarc’s team has met tough product development deadlines and plans to reduce high-end medical equipment imports by 20% in the next five years. Noccarc’s high-quality products have garnered acceptance in India and other nations because it is dedicated to creating products that suit humanity’s needs and continue to develop cutting-edge products to meet the demands of patients all across the world.
Following the shutdown, Noccarc began developing critical care ICU equipment, including the Noccarc V310, a high-end ICU ventilator with integrated HFNC.