There are 1.9 million individuals with Type 1 Diabetes in the US.9 100% of patient population require daily insulin injection. Only 1 out of 3 currently use an insulin pump.
32% of population utilizes insulin pumps for diabetes management
68% of the population rely on multiple daily injections for diabetes management
Almost Pumpers are 30% of the market. They would choose an insulin pump if it were less expensive, took less time to learn and use, and posed a low technological hurdle.
Abbott Libre Freestyle made continuous glucose monitoring easier and more affordable. This expanded the product category and doubled its size.
We believe the insulin pump market is ready for a similar transition.
“In short, Flash Glucose Monitoring is fundamentally trying to take something that is more “professional” (i.e., traditional CGM) and make it more accessible to the masses. In consumer-packaged goods, examples of this strategy include home espresso makers (Keurig), cleaning products (e.g., dilutable floor cleaners, spray cleaners, wipes, toilet wands), and teeth whitening (e.g., whitening strips).
In these cases, the new innovation completely changed the entire category; we look forward to seeing if Flash Glucose Monitoring does something similar in diabetes.”
-Kelly Close, 2014
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