Insulet is a medical device company known for its insulin delivery system for patients with diabetes.
What inspired the foundation of Insulet in 2000? How has the company evolved since then?
Insulet's foundation was deeply personal, originating from a father's desire to alleviate the daily burden of diabetes management for his child. This led to the creation of a revolutionary wearable, disposable insulin delivery Pod designed to simplify the process of insulin administration. From these beginnings, Insulet has grown over the past two decades, continuously innovating to enhance the lives of those living with diabetes. Our latest product, Omnipod 5 Automated Insulin Delivery (AID) system, represents a significant leap forward in diabetes care, offering advanced features that provide ease of use and improve the quality of life for our users.
Tell us more about Omnipod 5. How is it different from previous models?
Omnipod 5 is a testament to our commitment to innovation in diabetes care. Building on the platform's foundational benefits—wearability, discretion, and ease of use—Omnipod 5 introduces AID in a miniaturized form. This feature, a first-of-its-kind for a wearable, disposable device, allows users to manage their insulin needs more effectively and with greater flexibility.
Unlike previous generations and competing tubed pumps, Omnipod 5's automated dosing algorithm significantly reduces the need for manual insulin adjustments, enhancing both convenience and clinical outcomes.
Our rollout of Omnipod 5 was met with unprecedented demand. It has become the most prescribed AID technology in the U.S., leading in new customer starts. The success of Omnipod 5 underscores Insulet's leadership in diabetes care innovation. This advancement is not just about maintaining our competitive edge; it is about changing the paradigm of diabetes management to prioritize the user's lifestyle, comfort, and health.
How does the AI model for Omnipod 5 work in ensuring the correct insulin dosage at the right time?
Omnipod 5 is an AID system that works in conjunction with Continuous Glucose Monitors (CGM) from our partners, Dexcom and Abbott. The CGM continuously monitors blood glucose levels and trends, and communicates this data to the Pod every five minutes. Our AI algorithm then uses these readings to predict glucose levels 60 minutes ahead, adjusting insulin delivery as needed to maintain a target blood glucose level. This predictive model aims to keep the user’s glucose levels in range using a customizable target glucose between 110 and 150 mg/dL. Omnipod 5 adapts with every Pod change to meet your unique insulin needs and adjusts insulin using this customized Target Glucose, not a range. Omnipod 5 simplifies diabetes management by automating insulin dosing decisions.
The system's effectiveness is greatly enhanced by the precision of the CGMs we use. Currently, Omnipod 5 is integrated with Dexcom's G6 sensor, and we are expanding compatibility to include Dexcom's G7 and Abbott's FreeStyle Libre 2 Plus sensor. This interoperability with leading CGM technologies ensures that Omnipod 5 can effectively communicate with these devices to provide real-time, adaptive insulin management. Our goal with these partnerships and technology integrations is to make diabetes management as seamless and effective as possible for our users.
Why do the majority of diabetes patients still use multiple daily injections?
The predominant use of multiple daily injections (MDI) over more advanced technologies like Omnipod 5 is largely due to market inertia and a lack of awareness. Although automated insulin delivery systems have significantly penetrated the type 1 diabetes market, many patients remain unaware of these advancements or are hesitant to switch due to the perceived complexities and upfront costs associated with tubed pumps.
Our strategy targets the substantial portion of the market still relying on MDI, offering them a seamless transition to Omnipod 5. By focusing on the ease of use, affordability, and clinical benefits of Omnipod 5, we are working to shift diabetes management from a central focus of patients' lives to a more manageable background activity.
Do most of your customers have type 1 or type 2 diabetes?
A significant portion of our customers have type 1 diabetes, which is an autoimmune disease leading to the destruction of beta cells that produce insulin in the pancreas. This necessitates the need for external insulin to manage glucose levels and stay alive. The prevalence of type 1 diabetes is increasing slightly faster than the general population growth, with diagnoses occurring at various ages, though it is commonly perceived as a condition that begins in childhood. Our technology first focused on addressing the needs of type 1 diabetes due to the critical and constant need for insulin management. With the introduction of Omnipod 5, we have made significant strides in simplifying the management of type 1 diabetes.
Type 2 diabetes represents a different but equally significant challenge, characterized by a progressive loss of insulin sensitivity and pancreatic function. This condition is closely linked to lifestyle factors and the spread of the Western diet, leading to a global epidemic with over half a billion people affected. While the progression of type 2 diabetes varies, many patients eventually require insulin therapy, similar to the regimen for type 1 diabetes. In the U.S. alone, the market for insulin-dependent type 2 diabetes significantly surpasses that of type 1, with millions more requiring basal insulin or intensive insulin therapy. Our leadership in insulin delivery technology extends to both type 1 and type 2 diabetes markets.
What will be your next innovations in diabetes?
Our primary goal is to simplify life for people with diabetes by reaching as many patients as possible and continuously driving innovation in the field. To achieve this, we plan to enhance and expand the Omnipod 5 platform by integrating it with multiple sensors and refining our algorithms to improve effectiveness and user experience. We aim to extend Omnipod 5’s availability to more countries beyond the three we currently serve, targeting new markets and broadening our global footprint. Additionally, leveraging cloud connectivity unique to Omnipod 5, we plan to utilize patient data to refine our product offerings and personalize diabetes management further.
Through the use of AI and machine learning, we anticipate improving not just the clinical performance of Omnipod 5 but also the overall customer journey, from diagnosis to lifelong management. Our vision includes virtualizing training and support to scale effectively as our user base grows, ensuring we can meet the needs of potentially millions more patients without compromising on quality or accessibility. By focusing on these areas, we are committed to pushing diabetes management into the background of our users' lives, allowing them greater freedom and simplicity in their day-to-day activities.
