Inspira (IINN) Unveils Business Targets for 2024-25

Company Overview - Inspira Technologies OXY B.H.N. Ltd. (IINN) has disclosed a new business plan focusing on next-generation technologies, particularly its core blood oxygenation technology, the INSPIRA ART (Gen 2) [1][3] - The company aims to strengthen its position in the mechanical ventilation market with the INSPIRA ART (Gen 2) device, targeting a share of the global mechanical ventilation market projected to reach $19 billion by 2030 [8][7] Product Development - The INSPIRA ART (Gen 2) device allows for direct blood oxygenation, enabling patients to potentially remain awake without intubation, utilizing adaptive oxygenation technology [3] - The INSPIRA ART100, a cardiopulmonary support device, is set to be deployed in the U.S. and internationally, with the first purchase order received from Glo-Med Networks, Inc., and shipment scheduled for Q4 2024 [2][4] Business Goals - The company has outlined business goals for 2024-2025, focusing on the distribution of the INSPIRA ART100 system and the integration of the HYLA blood sensor into the next generation of the INSPIRA ART100 device [5][11] - Inspira is on track with phase 2 research and development for its VORTX blood delivery system and phase 3 verification and validation testing of the HYLA blood sensor [11] Market Insights - The cardiopulmonary bypass equipment market was valued at $437.8 million in 2023 and is expected to grow at a CAGR of more than 1% by 2033, driven by the increased prevalence of chronic diseases and technological advancements [12] - Inspira's business plan is well-timed to capitalize on the growth opportunities within this market [13] Recent Developments - In May 2024, production of the ART100 commenced, and it received CSA certification for product quality and safety [14] - The company has made significant technological advancements, satisfying 100% of regulatory guideline requirements for its VORTX blood delivery system [15] Stock Performance - Year-to-date, shares of IINN have surged 32.1%, outperforming the industry growth of 5.6% [16]