Inogen is a medical technology company that develops, manufactures, and markets respiratory health products including portable oxygen concentrators (the Inogen One® and Rove® lines), stationary concentrators, airway clearance devices, and CPAP masks for sleep apnea. The company primarily serves patients with chronic respiratory diseases such as COPD, cystic fibrosis, bronchiectasis, and obstructive sleep apnea, addressing a large global market affecting hundreds of millions of people. Inogen generates revenue through three channels: wholesale distribution to home medical equipment providers and resellers, direct-to-consumer sales, and direct-to-consumer rental services where the company bills Medicare and insurance on behalf of patients—a proprietary model that creates competitive barriers and represents a significant portion of revenue. The company operates across 70 countries and competes on product quality, innovation, pricing, and service, leveraging proprietary oxygen delivery technology, established Medicare relationships, and a direct rental infrastructure that larger competitors have struggled to replicate.