All these features are expected to improve the overall health of the patients and quality of life.įurther, the latest Libre 3 device is environment-friendly as its current model has a 41% and 43% reduction in plastic use and carton paper, respectively. This will aid the users to keep a better track of their glucose levels and prevent fluctuations, thereby reducing diabetes-related hospital admissions and work absentee rates. The app is designed to enable users to capture and view their real-time glucose levels, glucose history and trend arrows (which indicate rates of glucose change and can be described as the anticipated glucose change). Per management, the next-generation FreeStyle Libre 3 system aims to provide a better user experience and simplify diabetes management as much as possible.īesides the sensor, the system includes the FreeStyle Libre 3 mobile app. This offers unparalleled 14-day accuracy in the smallest and thinnest sensor design and is priced at the same price as previous versions of the device. The FreeStyle Libre 3 technology provides continuous real-time glucose readings, which are automatically delivered to smartphones every minute, and also includes optional glucose alarms. The FreeStyle Libre portfolio is a component of the company’s diabetes care business.
With the latest approval, Abbott aims to fortify grounds in the global CGM market, thereby boosting the Medical Devices segment.
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Investors should note that Abbott has secured partial or full reimbursement for the FreeStyle Libre portfolio in 37 countries, including Canada, France, Germany, Japan, the U.K. Notably, Abbott had launched the first disposable glucose sensor in 2014 and has been working toward making high-quality, accurate and affordable diabetes technologies available to every diabetic. This eliminates the need for painful fingersticks to monitor glucose levels. The FreeStyle Libre 3 system includes a long-lasting self-applied continuous glucose monitoring (“CGM”) sensor having a 14-day wear time. For investors’ note, Abbott is planning to launch the system in Europe in the coming months. The regulatory approval makes the sensory device eligible for use for the diabetics living in Europe. Abbott Laboratories ABT recently received the CE Mark for its next-generation FreeStyle Libre 3 system.
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