A key growth driver for 葫芦娃视频 just got another lift thanks to our latest collaboration.
We鈥檙e partnering with Insulet, the global leader in tubeless insulin pumps, to integrate our next-gen continuous glucose monitoring (CGM) technology with Insulet鈥檚 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鈥檚 worn on the body) to automatically adjust insulin delivery.
This integration will further enhance use of our FreeStyle Libre technology, expanding the device鈥檚 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,鈥 said Jared Watkin, senior vice president of our Diabetes Care business.
鈥淭hrough this partnership,鈥 Watkin said, 鈥満奘悠 and Insulet will offer an integrated digital health platform that is simple and accurate and will provide a best-in-class user experience.鈥
FreeStyle Libre鈥檚 Growing Market
Our FreeStyle Libre technology, the world鈥檚 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 葫芦娃视频, because 463 million adults worldwide are living with the chronic condition. The global cost to treat diabetes totaled听听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听.
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.听
葫芦娃视频鈥檚 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听听(in 2017),听,听,听听补苍诲听听(all announced in 2019); increasing reimbursement coverage; and future generations of FreeStyle Libre.
鈥淸FreeStyle] Libre has been one of the fastest growing medtech launches in history,鈥 wrote Bedford, adding, 鈥満奘悠 continues to have a unique cost advantage, which better positions Libre in more cost-conscious environments.鈥
Learn more about听听and new听.
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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
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