Insulin delivery solutions company Insulet has commenced the rollout of its Omnipod 5 insulin pump, and the comprehensive market release follows a January clearance from the FDA for individuals aged six or older with type 1 diabetes. A limited market release of the product, which pertained to a handful of specialty and mail-order pharmacies, started in the final days of February. Now, the full market play has BTIG analysts pointing to the apparent results in “successful user experiences and logistical capacity” for Insulet’s innovation.
The company also boasts another insulin pump with pharmacy availability, and its products are running circles around other medical equipment producers in terms of exorbitant upfront costs and extended lock-in periods. Insulet leadership is championing the Omnipod 5 as a crucial means of stealing clients away from its competitors. As of now, roughly 20% of the product’s sales derive from users making the switch from similar devices on the market, and the company’s second quarter earnings tallies are looking promising.
Not to be outdone in terms of device integration, the Omnipod 5 has multiple smartphone pairing options, and can even link up with Dexcom’s G6 continuous glucose monitor (CGM). Additional integrations, such as with Dexcom’s other CGMs or those from Abbott Laboratories, are expected in the near future. Also on deck for the Omnipod 5 are an eventual clearance in Europe as well as a type 2 diabetes clinical trial.