Abbott and Tandem Diabetes Care have recently announced the wireless integration of Abbott’s FreeStyle Libre 2 Plus continuous glucose monitor with the Tandem t:slim X2 insulin pump in the US. This announcement provides another useful treatment option for diabetic patients requiring insulin therapy and who wish to utilize continuous glucose monitoring, says GlobalData, a leading data and analytics company.
GlobalData forecasts that the diabetes market in the US is expected to grow at a compound annual growth rate (CAGR) of 5.35% between 2021 and 2025, increasing to approximately $11.6 billion by 2025. According to the GlobalData Marketed Products Database, Abbott and Tandem Diabetes Care have a combined 45 devices currently on the diabetes market, of which 22 are continuous glucose monitors or insulin pumps.
David Beauchamp, Medical Analyst at GlobalData, comments: “Growth in the diabetes market is precipitated by new diagnoses and technologies developed by companies such as Abbott and Tandem Diabetes Care. Major growth areas include insulin delivery and glucose monitoring systems, which both companies provide to diabetic patients. The integration of their devices can lead to greater control over blood glucose levels and prevent complications arising from high or low blood glucose levels.”
