Inogen, Inc. (INGN - Free Report)	recently announced the launch of its Inogen One G5 portable oxygen concentrator. The product is now available for sale through the company’s domestic direct-to-consumer sales channel for patients suffering from respiratory disorders.Through a controlled roll-out process in the upcoming months, the company plans to release it through domestic and global business-to-business channels as well.
Inogen is a leading medical device company, specializing in offering technologically-advanced respiratory products, designed for use within homecare setting. The launch of this product is in line with the company’s strategy of providing innovative and long-term oxygen therapy to patients in need of respiratory aid.
The Inogen One G5 is much superior to other portable oxygen concentrators currently available in the home-care market of the United States. This is because it has the highest oxygen production capacity per pound of weight, amounting to 1260 ml.
The oxygen concentrator is equipped with some other unique patient-focused features, like Inogen’s standard Intelligent Delivery Technology, prolonged battery life of 13 hours, access to Inogen Connect, large-sized LCD screen.
Per Persistence Market Research, the global market of portable oxygen concentrators is expected to grow at a CAGR of around 2-4% during the forecast period of 2015-2025. Considering the abundant market potential, Inogen’s latest product roll-out is strategically timed.
Of late, Inogen has been consistently expanding its portfolio of respiratory aid devices.
The Inogen One G4, unveiled three years ago, is a single-solution portable oxygen concentrator (POC). The company received French reimbursement coverage of the Inogen One G4 in the recent past. Furthermore, the company received EC Certificate for One G4 in 2017. This development boosted its productivity across sales, billing, and customer service teams in 2018.
Last December, the company commercially rolled out Inogen Connect — a new wireless connectivity platform for the Inogen One G4 — through its direct-to-consumer channel. Launch of the product through the business-to-business channel took place this February.
This apart, a few years back, the company launched its flagship portable oxygen concentrator, Inogen One G3, to bring mobility and independence to oxygen-therapy users.
Over the past year, Inogen’s stock has outperformed the industry it belongs to. The stock has rallied 44.56% compared to the industry’s gain of 32.1%.
Inogen currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Stryker Corporation (SYK - Free Report)	, Penumbra, Inc. (PEN - Free Report)	and Amedisys, Inc. (AMED - Free Report)	. Notably, each of these stocks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.