We’ve seen great results, great outcomes, whether it’s outcomes to the patient or time of procedure. We’ve seen that consistently around the world. And then on top of that, I think we’ve got a great team, really a great team that is very close to our customers. And yes, we were able to see the adoption of new technologies. We’ve talked about some of the shortcomings that exist in those. So I think it’s really the combination of our portfolio and our team that really has kind of sustained the growth. As we look to more PFA systems that will be in the market this year in the US, listen, as I’ve said, I think it’s a great technology. I think there are some challenges with some of these first generation products. I do expect there to be uptake and usage of it.
I think what’s been interesting in observing the uptake in Europe is that it is first, at least from what we’ve seen, it is first seen to have broader adoption in the CRYO segment and then from there, then kind of moving past that. So right now, I think, I guess that’s my assumption in the US until I see something differently is that it will follow a similar pattern. And then the question will just be kind of the speed. But I think the team has done a really good job here on the ground with the technology.
Operator: Thank you. And our next question will come from Robbie Marcus from JP Morgan. Your line is open.
Robbie Marcus: Oh, great. Thanks for taking the question. Robert, maybe I could ask on Libre. This is the most successful medical device at the conference just a few weeks ago in San Fran. You were talking about really robust growth rates moving forward and targets. Maybe you could help us understand where the growth is going to come from in ’24 and beyond? And one question I get a lot from investors is we see the IQVIA script data. It’s the best we have. It seems like Libre sales, or at least prescriptions are flattening out, yet the sales keep growing. How do we think about the discrepancy there? And how big is the Medicare DME business? And, the growth we’re getting there from Basel. Thanks a lot.
Robert Ford: Sure. Strong growth in Q4, under $1.5 billion. US was up 32%. And I’d say still haven’t, team hasn’t even had to unleash L3 in the US market in 2023. I think you’ll see that now really hit in 2024. But, being able to put those kind of growth rates in the US without even having to launch L3 with a competitive new system, I think that speaks a lot about our position, our scale, and our brand. the growth is going to come from, I’ve been pretty consistent about this, Robbie, and there was a lot of opportunities here for growth. I’m not going to list them all. There’s a lot of opportunities here for growth. I’m not going to list them all out here. But I’d say, okay, the Basel is a big opportunity. It’s a large opportunity for us.
But, and I also think it’s multi-year. So I don’t think it’s just a 24, 25. I think the penetration into the Basel segment is definitely, two plus years easily. And Libre dominates in the pharmacy channel here. You reference IQVIA, Robbie, seven out of 10 new scripts for this patient segment is Libre. And I think that’s a testament to the strength and the value proposition that the product has. So it’s becoming an increasingly strong growth contributor in the US. In Japan and in France, where, that reimbursement is exclusive to Libre, that’s also having a nice contribution on growth. I think right now in the US, most of the population is now covered, whether it’s in Medicare, or whether it’s in private commercial. Medicare represents about a third of the market.
So, I think there’s great opportunity here. We just got to build the awareness, build the — build the trialing experience with primary care. And that’s what we’re doing. That’s what we have been doing, quite frankly, for some time. So it’s a nice opportunity, and it’s a great growth opportunity for us. And like I said, easily two plus years. I think the other part of the opportunity we have, Robbie, is, looking at a segment that really hasn’t been, we haven’t been able to access, which is that of, pump connectivity. I think this represents a great opportunity for us. If you look at Basel as being a market expansion opportunity, I think the pump connectivity becomes a market conversion opportunity for us. You got 150,000 to 200,000, I guess, new pumpers every year, and that patient segment has, we haven’t been able to target it.
But now that we’ve got the regulatory clearings and connecting to all the different pump manufacturers, I think this is a great opportunity for us. and I think it’s good for patients. I think it’s going to be good to have a different option, especially for this patient population where insulin delivery and the whole connected system is important, right? Recently, there was an independent third-party study. I think this is the first time you’ve seen an independent head-to-head study that was published a few weeks ago showing that Libre-3 is superior to the recently launched product from our competitor across a variety of different metrics, whether it’s bias, whether it’s marred. So I look at that and I say, okay, if you’re a pump Company and you’re wanting to provide the best solution to your users, that’s an important aspect, especially for this segment.
