From producing 20 ventilators per day in March 2021, Noccarc bolstered its production capacity with enhanced quality control and began producing 105 ventilators a day by the end of April 2021 to meet the soaring demand
- Deployed 3000+ ventilators in a span of 7 months
- 80% of the deployments were done in private hospitals with Maharashtra witnessing the highest deployment at 23% of the total ventilators deployed
- Planning to deploy 600+ in the next quarter
- Team strength has grown from 22 to 130 in the last 1 year and plans to increase the team to 200+ in the next 2 years
- Revenue is expected to touch INR 150 Cr in FY22, a massive surge from its FY21 revenue of INR 15 Cr.
New Delhi, July 29th, 2021: The true mettle of startups is proven by rising to the occasion when the country is faced with an urgent need. The second wave of the COVID-19 pandemic that hit India hard, especially during the last 3 months, left millions of people in desperate need of medical equipment such as ventilators, oxygen concentrators, etc. Against this backdrop, Noccarc, a Pune-based startup that is committed to solving real-world problems by materializing futuristic visions with remarkable technological expertise, successfully deployed 3000+ of its flagship V310 ventilators in 500+ hospitals across the country. Transcending borders, the company has also deployed ventilators in Nepal and has received orders from multiple other African and Southeast Asian countries.
Having supplied 300 ventilators during the first wave of the pandemic, and receiving tremendous acceptance from the market, Noccarc set up a 50,000 sq. ft. factory in Pune to cater to the growing domestic and global market. This allowed Noccarc to ramp up the production from 20 ventilators per day up until March 2021 to 105 ventilators a day by the end of April 2021 and supply 2,500 ventilators in a mere span of 3 months to meet the massive 800% surge in demand for ICU ventilators during the 2nd wave. Additionally, to ensure all ventilators are up and running, Noccarc set up a call center for online and offline assistance and customer support. The company also deployed a 300+ strong service and application team across the country to provide seamless on-site training and clinical support.
During the 2nd wave, Noccarc also worked with various large CSR organizations for deploying the ventilators in hospitals located at remote locations across the nation, a significant percentage of which were installed in government hospitals. 80% of the deployments were done in private hospitals with Maharashtra witnessing the highest deployment at 23% of the total ventilators deployed. Aside from this, the company has also received direct orders from government organizations for its ventilators. In order to improve the care continuum in India, Noccarc is further planning to launch advanced medical equipment to support clinicians for better decision making & digitize the healthcare system significantly.
Speaking on the remarkable growth over the past year, Harshit Rathore, Co-Founder of Noccarc said, “The global market for medical devices has been valued at USD 400 billion out of which India’s market is USD 10 billion and is projected to grow at a 37% CAGR to reach USD 50 billion by 2025. Noccarc’s team has achieved aggressive product development timelines and we aim to significantly bring down the high-end medical equipment import by 20% over the next five years. Committed to building products that serve humankind’s needs, Noccarc’s high-quality products have gained acceptability across India and other countries. We will continue to build innovative products that will serve the needs of patients around the world.”
Dr. Sohini Roy from People Tree Hospital, Bengaluru says, “The Noccarc V310 ventilator is being used at our hospital for the last 3 months. With a user-friendly interface and multiple features, the V310 performs exceptionally at the set parameters. It’s truly commendable that Noccarc has augmented its production facilities to cater to the country’s requirements in a short period of time. We are confident that their high-quality, innovative products will make India more Atmanirbhar while also enabling increased export of medical devices from India to other countries.”
Noccarc plans to launch 4 new products for ICU care that will align with global compliance standards in this financial year. The company is also looking to deploy 600+ ventilators in the next quarter. With its team size growing from 22 to 130+ over the last year, Noccarc is planning to further increase by 55% in the next quarter while expanding its office size and production capacity with an additional facility, ensuring that all aspects are in line with its growth plans. The forward-looking startup also aims to foray into the US and European markets in the coming years. Additionally, Noccarc’s revenue is expected to touch a whopping INR 150 Cr in FY22, a massive surge from its FY21 revenue of INR 15 Cr.
Noccarc plans to launch 4 new products for ICU care that will align with global compliance standards in the next 6 months. Noccarc also plans to foray into the US and Europe markets.
