FreeStyle system, which allows patients to measure their glucose levels, eliminates the need of routine finger pricks. The system reads glucose levels through a sensor, which can be worn on the back of the upper arm for up to 14 days.

Abbott diabetes care senior vice-president Jared Watkin said: "Children and teens with diabetes and their families have to navigate many challenges in their daily lives as they care for this complex condition.

"The scientists and engineers at Abbott have made it their life’s work to provide the most innovative technology to help people with diabetes improve their diabetes management and ultimately, live happier and healthier lives."

According to the company, the FreeStyle Libre system was clinically proven to be accurate, stable and consistent over 14 days without the need for finger prick calibration for the children and teens in a recent accuracy study.

The company is currently selling the FreeStyle Libre system in the UK, Austria, France, Germany, Netherlands, Sweden, Italy and Spain.

In May 2015, Abbott obtained CE mark approval for its Absorb stent system, Absorb GT1, to treat patients with heart disease.

Absorb is a first-of-its-kind device, which functions like a metallic stent by opening a blocked artery in the heart and restoring blood flow.