New Delhi, Dec 20: Medical devices maker Max Ventilators is eyeing over 20 per cent growth in 2021 on new product launches and expectation of demand for ventilators in the Indian market to continue to grow, a top company official said.
The company expects to post a revenue of over Rs 150 crore during the current calendar year.
“We are coming up with new products like WeanX (turbine ventilator) next year with which we can expect a considerable increase in revenue as compared to this year. We anticipate more than 20 per cent growth in the coming year,” Max Ventilators founder and CEO Ashok Patel said.
Going forward, while the natural surge in demand for ventilators in the Indian market would count as a significant factor, the continued enlargement of company’s product portfolio would further drive the business, he added.
In line with the vision to constantly come up with new products to meet the ever-rising demand, the company has several new products in the pipeline, Patel said.
WeanX is set to hit the market by January-end. Some other products that may be rolled out in the next 6 to 18 months include patient monitors, anaesthesia work station and neonatal ICU devices, he added.
“At the same time, our recent investment tie-ups with other technology players such as US-based Amptron Medical would also give an impetus to our focus on export markets, as also on the domestic market,” Patel said.
About its ventilator manufacturing capacity, he said the company on an average can produce 1,000 ventilators per month, amounting to 12,000 units in a year. (PTI)
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