Pinnacle Activity Ticker
IGNT-Ingen Technologies, Inc News out
$400M Global Market for Ingen's New Oxyview Nasal Cannula
First Quarter Sales Over $100,000
YUCAIPA, Calif., Jul 29, 2009 (GlobeNewswire via COMTEX) -- Ingen Technologies, Inc. (Pink Sheets:IGNT) a leading Medical Device Manufacturer focused in the $8 Billion global Respiratory Markets for the growing aging population and emerging markets for Home (DME), Hospital and Aviation Industries, announced today that Oxyview sales had exceeded $100,000 for the first quarter that began on June 1, 2009.
With an estimated 600M patients worldwide with chronic obstructive pulmonary disease known as "COPD", there is a high demand for the use of nasal cannulas. According to CDC, there are an estimated 23M COPD patients in the USA, and this number increases each year. These home oxygen patients use 2-3 nasal cannulas each month as a precautionary measure to avoid bacteria accumulation within the cannula. This is an estimated 800M cannulas used annually for home oxygen therapy alone. This does not include the hospital market, pediatric and infant market, and other markets inclusive of aviation and government markets such as military and VA Hospitals.
The new Oxyview Nasal Cannula applies to all markets that use nasal cannulas, and is priced at $5.75 manufacturers suggested retail price (MSRP). The dealer pricing will vary depending on purchase volume and geographic territory. This price will range from $2.00 to $2.50. The estimated market for the Oxyview Nasal Cannula at the $2.00 price is $200M annually in the USA and another $200M outside of the USA if Ingen captures 15% of the market over the next 24 months. Specifically, in the USA there is an estimated 800M cannulas used annually. Ingen's market share at 15% would be 120M, and with a $2.00 wholesale price for each Oxyview Nasal Cannula, this is an estimated $240M annually. The company gross margins are 80% to 86% since manufacturing is done in the USA and the company controls all Cost of goods sold and owns all of the intellectual property including patents, trademarks and tooling.
The marketing campaign begins in September-2009 with full color page editorials in COPD Digest and Meco Forum. These editorials regarding the new Oxyview Nasal Cannula will reach over 200,000 physicians, hospitals suppliers and major decision makers in the respiratory industry. Further, the company has recently made arrangements to attend the 2009 MEDICA Home Health Show in Germany on November 18th-2009. MEDICA is the center of attraction for all those involved in the health care industry. More than 135,000 visitors from well over 100 countries are expected to again obtain information on all the current and future trends in in-patient and out-patient care at this annual event. With its extensive ancillary program, numerous special events, two major congresses and the largest product display in the industry, MEDICA is the hub of the medical trade.