Patented Diagnostic Equipment of NeuroEquilibrium gets European CE Certification
·Super-specialty Diagnostic services to be expanded to 1,000 hospitals globally by 2023
·A trend reversal: Indian companies looked for imported patented products, now Indian innovators are going global with path-breaking MedTech Products and solutions
Reversing the trend of adopting medical technology from developed countries, a leading Indian MedTech Startup, NeuroEquilibrium, announced that it has successfully secured European CE Mark regulatory approvals for its innovative diagnostic products. NeuroEquilibrium, the world's first chain of Dizziness and Balance disorder clinics, has received European CE certification for its patented diagnostic equipment, which allows it to provide its services in Europe and most parts of the World. Now, NeuroEquilibrium plans to expand its Advanced Dizziness and Balance Lab Services to 1,000 Hospitals globally by 2023.
The market for medical devices in India is USD 11 billion. There is limited indigenous manufacturing, and imports constitute over 80% of the market. The export market stands at just USD 2.5 billion but is expected to grow exponentially in the next five years. Founders of NeuroEquilibrum - Dr. Anita Bhandari and Rajneesh Bhandari- spent several years in research to innovate and set up the World's first chain of Dizziness and Balance disorder clinics that uses a DeepTech remote diagnosis platform for super-specialty healthcare.
"The patented and innovative technology of NeuroEquilibrium got a real shot in the arm with the grant of 6th patent in India and second patent in USA. It is a trend reversal, Indian companies looked for imported products and solutions, but now Indian innovators are going global with unique and path-breaking MedTech Products and solutions," said Rajneesh Bhandari, Founder, NeuroEquilibrium who is an IIT alumnus and a serial entrepreneur.
Medical technology innovation can be the tool to make modern care accessible and affordable to all by lowering the cost of the product or delivery. The company has set up Dizziness and Balance disorders clinics in over 150 hospitals in 50 cities across India and a few centers in Europe. It provides remote diagnostic services by super-specialist doctors assisted by computer vision and machine learning. Recently, NeuroEquilibrium has supplied its Vertigo and Dizziness lab to prestigious institutions like AIIMS Delhi, AIIMS Raipur, and ISRO, which will help the common man suffering from dizziness and balance disorders.
"Dizziness and Balance disorders are diagnosed by Vestibular evaluation, which has seen a tremendous advancement with the advent of new technologies. Despite the high incidence of Vertigo and Dizziness, there are very few specialized dizziness centres available. The cutting-edge diagnostic equipment developed by NeuroEquilibrium helps diagnose over 40 diseases of the inner ear and the brain. The DeepTech platform integrates cloud technology and computer vision, clinical decision support systems, and virtual reality (VR)," said Founder Dr. Anita Bhandari, a Neurotologist and a globally renowned Vertigo specialist.
"We have recently published three research papers on computer simulation of one of the diseases that cause vertigo in top European Neurology Journal. We are collaborating with top European Universities and jointly publishing cutting-edge research," added Dr. Anita Bhandari.