Ingen Technologies’ (IGNT) Revolutionary Product in the Growing COPD Market
Ingen Technologies, Inc. (IGNT), which provides innovative oxygen cannulas to home care providers similar to Lincare Holdings (LNCR) and Cardinal Health, Inc. (CAH), could see tremendous growth ahead as COPD continues to be a problem both domestically and abroad.
The 3rd Leading Cause of Death and Growing
Chronic obstructive pulmonary disease (COPD) is a term that covers a number of disorders characterized by the progressive development of airflow limitation. There are approximately 31.2 million people afflicted with the growing disease in U.S., Europe and Japan, which currently represents over 4% of the general population.
In the U.S. alone, COPD is the third leading cause of death with annual costs estimated at $40 billion. Meanwhile, the disease is projected to become the third biggest killer in the entire developed world by 2020. In fact, COPD is the only major disease with an increasing death rate, which is rising at a rate of about 16%, according to the Center for Disease Control (CDC).
Perhaps the most common treatment for those with COPD is the use of an oxygen tank, which helps make it easier for patients to breathe and receive the oxygen level they need. Every single one of these patients requires an oxygen cannula in order to receive the oxygen from the tank.
Ingen’s Solution for the $500 Million Cannula Market
The market for oxygen cannulas is estimated to be around $400 to $500 million in size, according to Ingen Technologies. Most of the market consists of cannulas that are manufactured overseas and imported at a low cost, since the product is widely believed to be commoditized. However, Ingen Technologies is preparing to change the industry with its “smart” cannulas.
Ingen’s Smart Nasal Cannula® includes its disposable in-line Oxyview® flow meter that provides assurance and confirms the oxygen flow rate and equipment function for the patient. In a market where most patients operate out of their home, false alarms can be very costly for home care providers like Lincare Holdings (LNCR) and Cardinal Health (CAH).
Ingen’s “smart” cannula can reduce costly home visits as well as potential liability lawsuits for equipment malfunction.
Already, many customers have found this useful, including Deena Neal of Professional Oxygen Supply Inc. who stated, “I believe this device will eliminate most of the after-hour calls we get and thus not have to send someone out to check the machine. Everyone in the industry is looking for ways to reduce cost and I think [Ingen's Oxyview] will be a great way to help with that.”
Ingen’s Prospects Appear Bright
Ingen Technologies is rapidly executing on its business plan and has achieved ISO certification to sell internationally, increased government orders under its pending GSA certification to sell to the U.S. government, and by lining up distributors to help increase its initial sales within North America, Europe, Asia and Australia.
Meanwhile, Ingen’s growing patent portfolio not only protects its intellectual property, but also adds value to the organization. Currently, the company has two U.S. patents granted and one pending, as well as one foreign patent granted and two more pending.
As more customers discover the benefits of this new smart nasal cannula with Oxyview technology, investors may see sales and profits quickly ramp up going forward.
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