It goes without saying that the advent of Covid-19 has raised the visibility quotient of ventilators and other lifesaving devices among lay public like never before. Even as India continues to prepare for any unforeseen situation, a leading Indian ventilator maker has reported an impressive surge in ventilator sales last year. To give actual figures, Max Ventilator has registered a phenomenal 15X jump in demand for its lifesaving breathing machines in 2021. The total Global Ventilator Market is estimated to reach USD 9.09 Billion by 2028, up from USD 6.59 Billion in 2021, at a compound annual growth rate (CAGR) of 7.1%, states Vantage Market Research report.
And among various types of ventilators that have been sold by the company during this period, anaesthesia ventilators apart from ICU ventilators meant for adults and children have been most sought after.
While the government has led from the front in ramping up capacities and resources with a view to meet the formidable challenge that the pandemic has posed to the whole country, the domestic private players have not remained behind in bolstering this national mission. And in this context, Max Ventilator has been no exception. Although supply chain networks were disrupted and availability of raw materials as well as labour had been rather unpredictable and patchy for most companies, Max Ventilator has managed to keep its production lines running and even flexible in tune with the waxing and waning of demand.
“We all know how last year particularly had been a tumultuous one both from ordinary patients’ and the authorities’ points of view. This was due to the hugely devastating second wave that we experienced last year. And as a manufacturer, we too had our share of challenges. However, even in the face of such odds, we largely continued to keep our plants and assembly lines running while adapting to the highs and lows of the demand in the market. So, during the extraordinary high demand in the second wave, we heavily increased our production. At the same time, we kept our production lines flexible adjusting to the fall in Covid-driven demand during the receding of the second wave last year. Yet, over-all we not only saw a 15X rise in demand for our ventilators last year, we also posted a 92% growth in our revenues” said Mr Ashok Patel, the founder and brain behind Max Ventilator.
“And without doubt our ICU ventilator Proton Plus has proved to be a bestselling product due to the sheer quality of the product and its components, durability and low maintenance involved. And it is no surprise that last year, we sold more than a thousand Proton Plus machines apart from others. Some of the other machines that we sold were anaesthesia ventilators and ventilators meant for children. Now today even when omicron seems to be fading away, there is no certainly just yet. Given the supply chain constraints, both global and national, and in order to fully participate in the admirable make-in-India campaign and truly live the Atmanirbharta drive, we have now begun to make our own compressors and major printed circuit boards. Moreover, we are even helping local manufacturers produce components such as support arms and fluid bottles etc, components that we earlier sourced from outside the country. In fact, now we are ensuring that 75% of our components are procured locally within the country,” further said Mr Patel.