YUCAIPA, Calif., July 29, 2009 (GLOBE NEWSWIRE) -- Ingen Technologies, Inc. (Pink Sheets:IGNT - News) 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.
http://www.la.bbb.org/businessreport.aspx?companyid=100015675
http://www.mdna.com/shows/medica.html#page=page-1
www.ingen-tech.com
About Ingen/Oxyview:
Ingen is an established medical device manufacturer with an emerging new medical product line for the respiratory market worth an estimated $4 Billion in the U.S., and $8 billion globally. The company introduced Oxyview into the respiratory market in late 2007 after securing US and Foreign Patents and successful licensing with the Food & Drug Administration, and has commenced domestic and global distribution with manufacture representative organizations, and OEM partners. In addition to selling its respiratory products within the global medical industry, the company is selling the same products within other industries that include aviation, automotive, emergency response, military and government transportation. The company holds a Device Manufacturing License with the State of California, Department of Public Health, Food and Drug Branch as it manufactures all of its respiratory products in the United States. There are 32 million U.S. patients with Chronic Obstructive Pulmonary Disease (COPD), and 600 million patients worldwide. Ingen Technologies is now the largest manufacturer of in-line gravity-independent oxygen flow meters.
The Ingen Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2472
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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