The year 2023 has proven to be an exciting and eventful time for diabetes technology. From FDA approvals to product launches and major acquisitions, the world of diabetes tech has seen a lot of action. Some of the biggest names in the industry, including Dexcom, Abbott, Medtronic, and Insulet, have had significant contributions to the top stories in diabetes technology. Additionally, external factors like popular GLP-1 drugs and the interest of big tech companies in entering the diabetes space have also made waves in the industry.
The following are ten of the most intriguing diabetes technology stories from the past 12 months:
Medtronic’s Plan to Acquire EOFlow Falls Through
Medtronic made headlines with its proposed acquisition of South Korea-based EOFlow, a company known for its innovative insulin patch pump. However, the deal collapsed due to what Medtronic referred to as “multiple breaches.” Despite the termination of the deal, both companies have expressed the possibility of resurrecting the agreement in the future, leaving the story between the two companies unfinished.
Dexcom Launches Highly Anticipated G7 Continuous Glucose Monitor
The long-awaited FDA clearance for Dexcom’s G7 continuous glucose monitor was one of the major highlights of 2023. The company marked the launch of the G7 with a Super Bowl commercial featuring musician Nick Jonas. Dexcom also announced that Medicare offers coverage for beneficiaries using the next-generation CGM, making it a significant development in diabetes technology.
Tandem Diabetes Care Joins the Patch Pump Market
Tandem Diabetes Care, a prominent name in automated insulin delivery, expanded its portfolio with the launch of the Tandem Mobi patch pump. This new system, equipped with Tandem’s Control-IQ technology for automated insulin delivery, is expected to be fully launched in early 2024.
Abbott and Insulet’s Progress with Technology Integration
Abbott and Insulet took significant strides in technology integration, particularly with the Omnipod 5 – Insulet’s latest automated insulin delivery system. Insulet expects to soon begin enrollment for a clinical study integrating Omnipod 5 with the Abbott FreeStyle Libre 2 sensor, a move that aims to demonstrate superior efficacy with Omnipod 5 compared to multiple daily injections.
Medtronic’s Breakthrough with the MiniMed 780G
Medtronic received FDA approval for its MiniMed 780G automated insulin delivery system with the Guardian 4 sensor. The company also resolved a longstanding warning letter with the FDA, and Medicare now covers the MiniMed 780G for all eligible beneficiaries.
The Impact of GLP-1 Drugs on Diabetes Technology
The rise of GLP-1 drugs has been a major topic in the diabetes and medtech industries. Notable figures in the field have shared their insights on the potential impact of GLP-1s on insulin pumps and continuous glucose monitors. Early indications do not suggest major concern regarding the impact of GLP-1s on the diabetes device space.
Beta Bionics’ Landmark Regulatory Approval
Beta Bionics secured FDA approval for its iLet system, which uses an adaptive, closed-loop algorithm. The company also received $100 million in support of its commercialization efforts, a significant development in the world of insulin delivery technology.
Abbott Makes a Major Diabetes M&A Move
Abbott recently completed its acquisition of Bigfoot Biomedical, a smart insulin management company. This strategic move is expected to accelerate the adoption of the Bigfoot Unity smart insulin management system for multiple daily injection (MDI) diabetes patients.
Apple’s Potential Entry into Glucose Monitoring
Tech giant Apple has reportedly been working on a project that aims to revolutionize the continuous glucose monitoring market with non-invasive technology through the Apple Watch. While Apple’s project is still in development, it’s worth keeping an eye on potential new competition in the diabetes technology space.
The Rise of Diabetes Startups
In addition to established players in diabetes technology, several startups have emerged with innovative solutions for diabetes management. These companies are poised to make a significant impact in the diabetes market with their cutting-edge technology and forward-thinking approaches.
As we conclude another eventful year in diabetes technology, it’s exciting to see the advancements and innovations that continue to shape the future of diabetes management. With ongoing developments and new players entering the field, the diabetes technology landscape is set to evolve even further in the coming years.
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