Tekcapital PLC (LON:TEK) has highlighted a new report by Grand View Research estimating global medical sales of portable oxygen concentrators and cylinders has been published, noting that the anticipated growth may have a positive impact on its portfolio company Belluscura.
The UK intellectual property investment group, which is focused on creating marketplace value from university technology, pointed out that Belluscura's first product, the X-PLO2RTM portable oxygen concentrator is currently awaiting US Food & Drug Administration (FDA) clearance, which is anticipated in the first half of 2020.
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Amongst other factors, Tekcapital said the report examines the impact of new data from the coronavirus (COVID-19) pandemic on market demand.
It noted that the report highlights an increasing demand for portable oxygen concentrators, and anticipates unit sales to grow from 405,000 units per year in 2019 to 581,000 units per year in 2026 for a total value of $1.4bn.
Additionally, the company added, a new study indicates recovered COVID-19 patients can be left with damaged lungs, and said further investigations of the recovered COVID-19 patients must now be conducted to show whether they have developed pulmonary fibrosis, or scarring in the lungs.
In a statement, Tekcapital director Robert Miller commented: "A portion of the patients who recover from COVID-19 may present residual lung damage, necessitating the use of supplemental oxygen."
Belluscura is focused on developing novel oxygen-based treatment platforms that can be adapted and applied in a wide range of markets beyond those traditionally applicable to a single product or product line. The group is developing innovative enriched oxygen treatment platforms that reduce the cost of treatment and increase available treatment options.
Tekcapital owns 18.9% of the share capital of Belluscura.