Welcome to Insulet Corporation's 2021 Annual Meeting of Shareholders. I would now like to introduce Shacey Petrovic, Insulet's President and Chief Executive Officer.
Thank you. Good morning, everyone, and welcome to the 2021 Annual Meeting of Insulet Corporation. I am Shacey Petrovic, President and Chief Executive Officer of Insulet, and I will be presiding over this meeting. The last year has presented all of us with extraordinary challenges, and we're encouraged to finally see signs of the pandemic easing in some parts of the world. Here at Insulet, I am pleased to report that our entire team faced the obstacles head-on and delivered another successful year for the company. We quickly adapted to the changing needs of our customers to help simplify life for those living with diabetes. We executed our strategy, delivered strong financial performance, and expanded our global footprint to bring life-changing innovations to more people across the globe. I will have more to say about our 2020 performance later in the meeting.
I would now like to introduce the other members of our Board of Directors. They bring diverse perspectives and a breadth of experience. They are leaders in business, healthcare, and technology, and each director brings deep expertise and skills to his or her role. Joining us virtually today are Sally Crawford, Dr. Wayne Frederick, Dr. Jim Hollingshead, Dr. Jessica Hopfield, David Lemoine, Michael Minogue, Corinne Nevinny, and Tim Scannell. I would also like to acknowledge Dr. John Fallon, who is retiring from our board effective today. John provided wise and thoughtful oversight during his service as a member of our board, and on behalf of the company and the board, I would like to thank him for his distinguished service and many valuable contributions. In addition, with me here today is Jack Kapples, our General Counsel and Secretary.
We also have on the line representatives from Grant Thornton, our independent auditors. The agenda for today's meeting and the rules of order are available in the meeting materials section of the virtual meeting website. There you will also find links to our 2021 proxy statement and 2020 annual report. We don't expect any technical difficulties today, but in the event we lose our webcast connection or otherwise experience issues, please wait at least 10 minutes for resolution and refer to the virtual meeting website for updates. The question-and-answer portion of our meeting will be held after all proposals have been introduced. If you wish to submit a question, please type it into the Ask a Question field and click Submit on the meeting website. I now call the meeting to order.
We have been advised by the Secretary that proper notice of this meeting was given, a quorum is present, and the meeting is duly constituted, and that the business of the meeting may proceed. It is 9:03 A.M. The polls are now open, and we will proceed with the formal business of the meeting. If you have already submitted your proxy and you do not intend to change your vote, you do not need to vote today. Your shares will be voted in accordance with the directions you provided in your proxy. If you are eligible to vote and have not submitted your proxy, or if you want to change your vote, you may vote today by clicking Vote Here on the meeting website. The first item of business is the election of directors.
As described in the proxy statement, we will be voting on three nominees: Wayne Frederick, Shacey Petrovic, and Tim Scannell to serve as Class II directors for a term of three years. The board recommends a vote for each of the nominees. The second item of business is the approval on a non-binding advisory basis of a resolution regarding the compensation of the named executive officers, as described in the compensation discussion and analysis section of the proxy statement. Although this is an advisory vote and the results of the vote will not be binding on the board or the company, the board understands the importance of receiving shareholder feedback on executive compensation. The board recommends a vote for this proposal.
The third and final item of business is the ratification of the appointment of Grant Thornton LLP as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2021. The board recommends a vote for this proposal. Anyone who has not yet voted, please do so now as the polls will be closing shortly. It is now 9:05 A.M., and the polls for each matter to be voted on at this meeting are now closed. No additional proxies or votes and no changes or revocations will be accepted. That concludes the official business, and I declare the formal business of the meeting closed, and the meeting is now adjourned. While we wait for the preliminary voting results, I want to update you on the state of our company.
Insulet experienced another successful year in 2020 despite the unprecedented events and the many challenges, both professionally and personally, that we faced due to the COVID-19 pandemic. We are so proud of our team and all that we accomplished, which was possible only by supporting one another and working together. We remained focused, flexible, resilient, and true to our mission of simplifying life for those living with diabetes. I'd like to share with you a few of our main accomplishments in 2020. For the fifth consecutive year, Insulet achieved over 20% annual revenue growth, which is a remarkable achievement considering the market challenges. We finished 2020 with revenue ahead of our pre-COVID expectations.
With approximately 11 million-12 million people living with insulin-dependent diabetes in the countries we serve today, our company is focused on providing widespread access to Omnipod so even more people across the globe can experience simplicity, ease of use, and discretion when managing their diabetes. Guided by our long-term strategic plan, we have made significant progress with increased accessibility in 2020, and we entered five additional countries in Western Europe and the Middle East. Already in 2021, we've expanded into Turkey and plan to launch in Australia later this year. In the United States, we continue to expand pharmacy access and affordability for our customers with our unique pay-as-you-go business model. With no upfront costs and no lock-in period for Omnipod DASH, it is easier than ever for those living with type 1 or type 2 diabetes to use our innovative technology.
By working to expand access to our products through pharmacies, we make it easier for healthcare providers to issue prescriptions. In addition to low, more predictable out-of-pocket costs, customers enjoy the added convenience of one-stop shopping at pharmacies. In our 30 Days of Freedom free trial, which is offered in the United States, it offers customers the opportunity to try Omnipod DASH free for 30 days. We are breaking down barriers for people with diabetes to access and adopt our technology. In March, we announced positive results from the first pivotal trial of our Omnipod 5 automated insulin delivery system, our latest innovation and the world's first tubeless wearable system that continuously adapts insulin delivery based on glucose levels and trends. Our pivotal study demonstrated significantly improved Time in Range and reduced HbA1c in children, adolescents, and adults ages six to 70 years old with Type 1 diabetes.
We are incredibly proud of this product, which has been years in the making, and we expect to begin our limited commercial release in the second half of 2021. Also, during 2020, we were able to continue to automate our processes and increase our manufacturing capacity. Despite the pandemic, we not only maintained high-quality production, kept facilities open, and met product demand levels, we also opened a new manufacturing facility in China and installed our third U.S. manufacturing line, further expanding our manufacturing and supply chain redundancy. To ensure the safety of our essential employees who work in our manufacturing facilities during this challenging time, we implemented additional safety protocols and provided face masks, nurse-led health screenings, and other PPE. We also initiated contact tracing and offered COVID-19 testing for all our employees in the United States.
We were able to quickly enhance our safety protocols to protect our employees while sustaining zero backorders to customers. We approached every obstacle as an opportunity to innovate and grow. Insights from our response also influenced our new sustainability strategy, which focuses on resilient operations, sustainable product innovation, and people and communities. With this strategy, we are focused on establishing foundational programs and baselines for both immediate and long-term goals aligned with leading frameworks and best practices. Our sustainability journey supports our continued focus on product quality and safety, affordability and accessibility, and customer centricity. If you haven't already done so, I invite you to read our recently published 2020 Sustainability Report, which further highlights our strategy and explains the company's focus and performance on environmental, social, and governance issues.
2020 was also a year of tremendous progress in building a diverse, inclusive culture and rewarding our employees with exceptional benefits to keep them engaged and supported throughout the pandemic. As we look to the future, we know that the dedication and talent of our global team positions Insulet for continued growth and success. We are already off to a strong start in 2021 and expect to deliver another year of double-digit revenue growth, launch Omnipod 5, and advance our innovation pipeline so we can continue to fulfill our mission to simplify life for people with diabetes. It is an exciting time for our company, and we thank you for your support. Will the Secretary now please report on the preliminary voting results?
Thank you, Shacey. The preliminary voting results are based on tabulations received from Broadridge Financial Services and our independent inspector of elections and are as follows.
Proposal 1: The three director nominees named in the proxy statements have been elected, with each nominee having received at least 97% in favor of reelection. Proposal 2: The advisory vote on the compensation of the company's named executive officers was also approved, with 98% of the votes cast for this proposal. Proposal 3: The ratification of the appointment of Grant Thornton as the company's independent registered public accounting firm for the fiscal year ending December 31, 2021, was approved, with 99% of the votes cast for this proposal. The final voting results will be set forth in the report of the independent inspector of elections and will be disclosed within four business days of the meeting on a Form 8-K to be filed with the U.S. Securities and Exchange Commission.
Thank you, Jack. With that, we will now move to the question-and-answer portion of the meeting. Over the next 10 minutes- 15 minutes, we will answer as many of your questions as we can. If we receive substantially similar questions, we will group those together and provide a single response to avoid repetition. Answers to questions that are not addressed during the meeting will be published following the meeting in the corporate governance section of our website, www.insulet.com.
Shacey, the first question we received is: Are you looking toward deeper market penetration with Omnipod 5, integration with Dexcom, percentage of recent renewals, and our growth into the type 2 diabetes community?
Thank you for the questions. We do expect deeper market penetration with Omnipod 5. Omnipod 5 will be a game changer for people with diabetes. It is the first wearable, tubeless, automated insulin delivery system controlled by a user's smartphone.
And so we think this differentiation, combined with its remarkable clinical performance, will enable us to both take market share and also to bring improved outcomes to people today who are relying on multiple daily injections today. And so our first generation of Omnipod 5 is integrated with Dexcom's G6 sensor, and we also have work underway to integrate with future generations of Dexcom sensors as well as Abbott's Libre sensor platform. And we shared on our last earnings call that we were very encouraged to see that despite the challenges of last year, our customer retention rate remained very low and stable. And so we estimate between 90%-91% of customers are retained, which is just a great endorsement of Omnipod and how much our customers love the technology.
And then on your last question regarding type 2, we have seen increasing adoption of Omnipod among people living with insulin-dependent diabetes, living with type 2 insulin-dependent diabetes. And so it's really exciting to see the impact we've had in this patient segment. Just recently, we published real-world data that demonstrated that Omnipod significantly improves A1C and reduces total daily dose of insulin by 32%. So quite an impact for these users. And that clinical performance, along with the simplicity and discretion of Omnipod, have been driving adoption among type 2 users. And last quarter, we said that 35%-40% of our new Omnipod customers lived with type 2 diabetes. We expect this adoption to continue and to grow as we improve affordability, access, awareness, and work to eventually bring Omnipod 5 to people with type 2 diabetes.
Thank you, Shacey. At this point, there are no further questions in the queue.
Great. Thanks, Jack. So this concludes our meeting. Thank you all for attending and for your continued support of Insulet.
The Insulet Annual Meeting of Shareholders has come to an end. Thank you for attending. You may now disconnect.