Insulet (US:PODD) The Motley Foolยท2024-08-30 11:20Core Insights - Insulet's stock experienced a nearly 11% increase week to date following positive news regarding its insulin pump [1] Product Approval - Insulet announced that its Omnipod 5 Automated Insulin Delivery (AID) System received FDA approval for use in type 2 diabetes patients aged 18 and older [2] - Omnipod 5 is now the only AID device approved by the FDA for both type 1 and type 2 diabetes [3] Market Opportunity - There is a significant addressable market for the Omnipod 5, with over 30 million people in the U.S. suffering from type 2 diabetes, of which approximately 6 million require insulin treatments [4] - Among those requiring insulin, around 2.5 million individuals need multiple daily injections, representing a key target market for Insulet's automated delivery system [4]