PRODUCTS & INNOVATION
DIABETES CARE: MORE CONNECTED THAN EVER
Abbott partners with Insulet, showing FreeStyle Libre’s power to help people using insulin better manage diabetes.
Feb 20 2020
A key growth driver for Abbott just got another lift thanks to our latest collaboration.
We’re partnering with Insulet, the global leader in tubeless insulin pumps, to integrate our next-gen continuous glucose monitoring (CGM) technology with Insulet’s Omnipod Horizon Automated Insulin Delivery System.
This collaboration will create seamless, personalized diabetes care for people who use insulin. Glucose data from our FreeStyle Libre next-gen sensor (worn on the back of the upper arm for up to 14 days) will be sent directly to the Omnipod Horizon pod (a small device filled with insulin that’s worn on the body) to automatically adjust insulin delivery.
This integration will further enhance use of our FreeStyle Libre technology, expanding the device’s user base while also making it easier to manage diabetes for the approximately 63 million people worldwide who need insulin to help control their glucose levels.1
"As diabetes care becomes more interoperable, we're developing more connected approaches to improve care,” said Jared Watkin, senior vice president of our Diabetes Care business.
“Through this partnership,” Watkin said, “Abbott and Insulet will offer an integrated digital health platform that is simple and accurate and will provide a best-in-class user experience.”
FreeStyle Libre’s growing market
Our FreeStyle Libre technology, the world’s leading sensor-based glucose monitoring system, has changed the lives of more than 2 million people across 46 countries and is partially or fully reimbursed in 36 of them.
The system enables people to easily check their glucose levels by using their smartphone to scan the sensor worn on the back of the upper arm, eliminating the need for fingersticks.
Simplifying diabetes management is a key focus of Abbott, because 463 million adults worldwide are living with the chronic condition. The global cost to treat diabetes totaled $760 billion in health expenditures in 2019, or 10% of total spending on adults, according to the International Diabetes Federation (IDF).
And by 2045, the IDF projects that the number of adults with diabetes will climb 51% to 700 million people.
The market for high-tech diabetes devices, which includes CGMs and insulin pumps, is approximately $7 billion, making it the fastest growing medtech market over $1 billion, according to Raymond James Financial analyst Jayson Bedford.
Abbott’s strength in the market is reflected by our full year 2019 FreeStyle Libre worldwide sales, which approached $2 billion, up 70% on an organic basis versus the prior year.
Demand for FreeStyle Libre is projected to continue rising in the coming years due, in part, to our new collaboration with Insulet, as well as with Bigfoot Biomedical (in 2017), Novo Nordisk, Omada Health, Sanofi and Tandem Diabetes Care (all announced in 2019); increasing reimbursement coverage; and future generations of FreeStyle Libre.
“[FreeStyle] Libre has been one of the fastest growing medtech launches in history,” wrote Bedford, adding, “Abbott continues to have a unique cost advantage, which better positions Libre in more cost-conscious environments.”
Learn more about our collaboration with Insulet and new real-world FreeStyle Libre data.
1Sanjay Basu, John S Yudkin. Estimation of Global Insulin Use for Type 2 Diabetes, 2018-30: A Microsimulation Analysis. Lancet Diabetes & Endocrinology. January 2019; 7: 25-33
For US safety information, please visit https://www.freestylelibre.us/#safety-information.
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