The global CGM market, valued at more than $7 billion,12 provides a significant expansion opportunity for Abbott, the market leader with approximately 4 million FreeStyle Libre users worldwide.13
Consider that 537 million adults worldwide are living with diabetes and this number is projected to balloon 37.2% to 783 million people by 2045. In the U.S. alone, diabetes is the most common chronic condition with more than 133 million people (nearly half the population) living with diabetes or prediabetes.
Additionally, the CGM market is evolving beyond traditional users of the technology — people with type 1 diabetes who use an insulin pump — to also include those with type 1 and type 2 diabetes who don’t take insulin. This is an opportunity to help a broader group of people and to expand in this market.
“We continue to disrupt the notion that CGMs have to sacrifice quality or accuracy for affordability,” said Watkin. “Access to breakthrough diabetes technologies should not be out of reach for the people who can benefit most from them.”
Learn more about the FreeStyle Libre 3 system and its FDA clearance.
1Among patient-applied sensors
2Compared to previous FreeStyle Libre systems.
3FreeStyle Libre 3’s User Manual.
4The FreeStyle Libre 3 app is only compatible with certain mobile devices and operating systems. Please check our website for more information about device compatibility before using the app. Use of the FreeStyle Libre 3 app requires registration with LibreView.
5Data on file. Abbott Diabetes Care.
6Notifications will only be received when alarms are turned on and the sensor is within 33 feet unobstructed of the reading device. You must enable the appropriate settings on your smartphone to receive alarms and alerts, see the FreeStyle Libre 3 User’s Manual for more information.
7Based on the signal strength in Dexcom G6 CGM User Guide and Medtronic Guardian Connect System User Guide.
8The LibreLinkUp app is only compatible with certain mobile device and operating systems. Please check www.librelinkup.com for more information about device compatibility before using the app. Use of the LibreLinkUp app requires registration with LibreView. LibreLinkUp is not intended to be used for dosing decisions. The user should follow instructions on the continuous glucose monitoring system. LibreLinkUp is not intended to replace self-monitoring practices as advised by a physician. The user’s device must have internet connectivity for glucose data to automatically upload to LibreView and to transfer to connected LibreLinkUp app users.
9LibreView is ISO27001/27018/27701 certified and HITRUST CSF Certified.
10The LibreView data management software is intended for use by both patients and healthcare professionals to assist people with diabetes and their healthcare professionals in the review, analysis and evaluation of historical glucose meter data to support effective diabetes management. The LibreView software is not intended to provide treatment decisions or to be used as a substitute for professional healthcare advice.
11Data on file, Abbott Diabetes Care.
12Data on file, Abbott Investor Relations.
13Data on file, Abbott Diabetes Care. Data based on the number of users worldwide for the FreeStyle Libre portfolio compared to the number of users for other leading personal use, sensor-based glucose monitoring systems.