Adds details on the device in paragraph 3, background in paragraphs 6-7
By Sneha S K
Sept 5 (Reuters) - Abbott ABT.N has launched its over-the-counter continuous glucose monitoring system in the U.S., the company said on Thursday, making it the second such device on the market to help people track their blood sugar levels.
The device, called Lingo, will compete with a rival from DexCom DXCM.O, launched last week, and will be available for adults who are on insulin.
Continuous glucose monitors are already multi-billion dollar products due to demand from diabetes patients, and companies are looking to expand the market by targeting health-conscious customers.
"There is a great deal of interest in tracking biomarkers that provide insights into one's health and wellness that were previously undetectable using the trackers available to consumers," said Olivier Ropars, the head of Abbott's Lingo business.
A continuous glucose monitoring system consists of coin-sized adhesive skin patches with a Bluetooth link to a smartphone, versus drawing blood through a finger stick.
The readings help determine whether diabetic patients an insulin dose.
Lingo is available for consumers 18 years and older on insulin in three payment options - $49 for two weeks, $89 for four weeks and $249 for 12 weeks, the company said on Thursday. Each biosensor can be worn for up to two weeks.
Dexcom's Stelo is available at a price of up to $99 for two sensors. It is also available at $89 for a four-week subscription.
Abbott received the U.S. health regulator's clearance for Lingo, available in Britain since January for 120-150 pounds ($152-$190) per month, in June.
Abbott's CEO Robert Ford said in July that the company would use a mix of TV advertisements and guerilla marketing to tap people without diabetes for the U.S. launch.
(Reporting by Sneha S K; Editing by Janane Venkatraman and Sriraj Kalluvila)