Inogen Announces Publication of Study Demonstrating the Association of Portable Oxygen Therapy with Decreased Mortality and Increased Cost-Effectiveness Ratio
Inogen, a medical technology company specializing in respiratory products, announced findings from a study published in Pulmonary Therapy. The research, sourced from France's national healthcare database (SNDS), analyzed over 244,000 long-term oxygen therapy patients from 2013-2020. Results demonstrated that portable oxygen concentrators (POCs), alone or combined with other oxygen modalities, improved survival rates and were cost-effective compared to stationary concentrators, compressed tanks, and liquid oxygen. Additionally, Inogen's higher mobility POC devices, with autonomy over 5 hours, showed better outcomes in survival, healthcare resource use, and related costs than lower mobility devices.
- Portable oxygen concentrators (POCs) improved survival rates compared to other long-term oxygen therapies.
- POCs were found to be cost-effective according to the incremental cost-effectiveness ratio (ICER).
- Inogen's higher mobility POCs, with autonomy over 5 hours, showed better survival and lower healthcare costs.
- The study utilized a large sample size of over 244,000 patients, enhancing the reliability of the findings.
- No specific revenue impacts or financial gains were highlighted in the study.
- The study did not directly address potential risks or side effects of portable oxygen concentrators.
Insights
The study's results, showcasing the improved survival rates and cost-effectiveness of portable oxygen concentrators (POCs), provide significant insights for the medical community and investors alike. This large-scale study utilized data from the French national healthcare system and included a substantial sample size of over 244,000 patients, enhancing the reliability and generalizability of the findings.
From a medical standpoint, the study underscores the potential of POCs to improve patient outcomes by offering greater autonomy and mobility. The observed association between higher mobility and better survival rates suggests that POCs can significantly impact the quality of life for patients requiring long-term oxygen therapy. The break-down into higher and lower mobility groups further reveals that Inogen's devices, which offer longer autonomy, are linked with better health outcomes.
Investors might view the study as a validation of Inogen's technology and its market position. The evidence supporting the cost-effectiveness of POCs, alongside their clinical benefits, is likely to bolster confidence in the company's products and strategy. However, it is important to consider that while the results are promising, they are associative and not necessarily causal.
The study’s implications for Inogen, Inc. extend into the financial domain as well. By demonstrating that POCs can be more cost-effective than other long-term oxygen therapies, the study highlights a potential competitive edge for Inogen in the respiratory product market. The incremental cost-effectiveness ratio (ICER) is a critical metric used in healthcare economics to assess the value for money of medical interventions and the favorable ICER for POCs could drive increased adoption by healthcare providers and payers.
Short-term impacts might include a positive shift in investor sentiment and an uptick in stock price due to renewed confidence in the company’s product offerings. Long-term, the study could support market expansion and revenue growth as the healthcare sector increasingly adopts cost-effective solutions. Additionally, the strong association between Inogen’s devices and better health outcomes might position the company favorably in negotiations with healthcare payers and providers.
However, investors should be cautious and take into account potential challenges, such as market competition, regulatory scrutiny and the need for continuous innovation to maintain a competitive edge.
For market dynamics, the research might influence the broader landscape of oxygen therapy. The report's findings emphasize the growing importance of portable medical devices in enhancing patient care and reducing costs. The study’s evidence of POCs leading to lower healthcare resource use—like fewer hospitalizations and specialist visits—is particularly relevant for healthcare providers and insurance companies looking to optimize their resource allocation. This trend could increase demand for portable oxygen solutions, benefiting companies like Inogen.
Moreover, the differentiation between higher and lower mobility POC groups provides valuable insights for market segmentation and targeted marketing strategies. Inogen’s devices, which offer higher autonomy, could be strategically marketed to patients seeking greater independence and mobility, thus addressing a niche market need. This strategic positioning strengthens Inogen’s brand and can lead to increased market share.
However, the market landscape is competitive, with various players offering similar innovations. Inogen must leverage this study to fortify its brand positioning and maintain its competitive advantage through continuous product enhancement and customer engagement.
The study sourced data from the French national healthcare system database, the Système National des Données de Santé (SNDS). With a sample size of over 244,000 adult long-term oxygen therapy patients from 2013-2020, it is likely the largest retrospective claims database assessment study of long-term oxygen therapy to date. The results showed that portable oxygen concentrator (POC) use, either alone or in combination with other oxygen modalities, was associated with improved survival and similar healthcare resource use, such as hospitalizations and specialist visits, compared to stationary concentrators, compressed tanks and liquid oxygen. Additionally, based on the incremental cost-effectiveness ratio (ICER), POCs were cost-effective compared to stationary concentrators, compressed tanks, and liquid oxygen.
In a secondary analysis of the POC group, two sub-groups were classified based on device autonomy i.e. higher mobility and lower mobility groups. The higher mobility POC sub-group were allocated Inogen devices and had an autonomy greater than 5 hours, while the lower mobility POC sub-group were allocated non-Inogen devices and had an autonomy less than 5 hours. Within the POC group, the higher mobility POC sub-group were associated with better survival, lower healthcare resource use and lower related costs vs the lower mobility POC sub-group.
“The study highlights what we have known anecdotally about portable oxygen therapies, and Inogen devices,” said Kevin Smith, President and Chief Executive Officer. “We have long believed that mobile oxygen therapies, primarily portable oxygen concentrators, are associated with improved health outcomes, affordability, and patient quality of life. We are proud that this study confirms the value proposition of our devices. Looking forward, we will continue to expand the adoption of our effective and high-quality POCs, enabling even more patients to experience these benefits.”
To read the published study, please visit: https://link.springer.com/article/10.1007/s41030-024-00259-x
About Inogen
Inogen, Inc. (Nasdaq: INGN) is a leading global medical technology company offering innovative respiratory products for use in the homecare setting. Inogen supports patient respiratory care by developing, manufacturing, and marketing innovative best-in-class portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Inogen partners with patients, prescribers, home medical equipment providers, and distributors to make its oxygen therapy products widely available allowing patients the chance to remain ambulatory while managing the impact of their disease.
For more information, please visit www.inogen.com.
Inogen has used, and intends to continue to use, its Investor Relations website, http://investor.inogen.com/, as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements with respect to the future results associated with the clinical study, and increased adaptation of Inogen devices. Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “will,” “intends,” “potential,” “possible,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from currently anticipated results, including but not limited to, risks related to its announced management and organizational changes, and risks arising from the possibility that Inogen will not realize anticipated future financial performance or strategic goals. In addition, Inogen's business is subject to numerous additional risks and uncertainties, including, among others, risks relating to market acceptance of its products; competition; its sales, marketing and distribution capabilities; its planned sales, marketing, and research and development activities; interruptions or delays in the supply of components or materials for, or manufacturing of, its products; seasonal variations; unanticipated increases in costs or expenses; risks associated with international operations; and the possibility that Inogen will not realize anticipated revenue from recent or future technology acquisitions or that expenses and costs related thereto will exceed Inogen’s expectations. Information on these and additional risks, uncertainties, and other information affecting Inogen’s business operating results are contained in its Annual Report on Form 10-K for the period ended December 31, 2023, its Quarterly Report on Form 10-Q for the calendar quarter ended March 31, 2024 and in its other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Inogen disclaims any obligation to update these forward-looking statements except as may be required by law.
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Source: Inogen, Inc.
FAQ
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