LONDON, U.K. AND PLANO, TX, U.S. (3 April 2023). Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen concentrator (“POC”) technology, provides an update on recent progress.
Manufacturing in China
Belluscura has commenced manufacturing in China of its X-PLORTM portable oxygen concentrator.
This follows the manufacturing agreement announced in March 2022 with InnoMax Medical Technology, Ltd to manufacture the X-PLOR portable POC in China, enabling the Company to accelerate its international expansion by opening up markets in Asia and beyond. Regulatory approval and distribution within China are expected over the summer.
Strong growth is expected in the Asia Pacific market, with the medical oxygen concentrator industry expected to reach $1 bn by 20271 and nearly 100 million people in China with chronic obstructive pulmonary disease (“COPD”)2.
Belluscura is proud to announce that having debuted the DISCOV-R™ portable oxygen concentrator at Medtrade between the 29-30 March this year, it was awarded the Silver Award in the Best New Product category.
Held since 1979, Medtrade is the largest home medical equipment (“HME”) trade show and conference in the US, with hundreds of HME manufacturers exhibiting and thousands of HME providers attending the conference each year for the largest annual sourcing opportunity for home medical equipment.
The DISCOV-R, which is scheduled to launch in the US this summer, was described by numerous attendees as ‘transformational’ to the supplemental oxygen industry, given its amazing weight of only c.6.5 lbs, ability to produce 2,000ml of pulse and continuous flow oxygen, and its Nomad BiometricTM App that can connect via Bluetooth® to smartphones, wearable fitness devices and other monitors.
The U.S. home medical equipment market generated $12.07 billion in 2021 and is estimated to reach $19.89 billion by 2031, witnessing a CAGR of 5.1% from 2022 to 2031, according to research from Allied Market Research published in February 20233.
Continued progress across the business
Orders of the X-PLOR portable concentrator continue to grow, as new distributors are brought on board, and are in line with company expectations.
We continue to move forward with the CE and UK CA mark registration processes, with a number of approvals anticipated later this year.
Robert Rauker, Chief Executive Officer, Belluscura plc, commented:
“We continue to make good progress, with manufacturing in China commencing, increased orders for X-PLOR and the tremendous reception of DISCOV-R by the industry at Medtrade.”
1 Source: Coherent Market Insights – https://www.coherentmarketinsights.com/market-insight/oxygen-concentrators-market-198
2 Source: ScienceDaily – https://www.sciencedaily.com/releases/2018/04/180409185331.htm
3 Source: Allied Market Research – https://www.alliedmarketresearch.com/us-home-medical-equipment-market-A11059
For further information, please contact:
Robert Rauker, Chief Executive Officer
Anthony Dyer, Chief Financial Officer
SPARK Advisory Partners Limited (NOMAD)
Tel: +44 (0)20 3368 3550
Dowgate Capital Limited (Broker)
Tel: +44 (0)20 3903 7715
James Serjeant / Nicholas Chambers
MHP (Financial PR and Investor Relations)
Tel: +44 (0)20 3128 8100
Katie Hunt / Pete Lambie / Matthew Taylor