June 10 (Reuters) -

Abbott Laboratories ( ABT ) said on Monday it had secured

the U.S. health regulator's clearance for two new

over-the-counter glucose monitoring devices, one for

health-conscious people and another for those with diabetes.

The Food and Drug Administration's clearance potentially

helps the company expand its presence in this

multi-billion-dollar market by increasing the overall reach of

glucose monitors to new patient populations.

One of the company's new OTC devices, Libre Rio, targets

people with type 2 diabetes who do not use insulin and typically

manage their diabetes through lifestyle modifications, while its

other new product, Lingo, is aimed at health-conscious people.

Lingo will help to track glucose and provide

personalized insights and customized coaching to help people

create healthier habits and improve their overall well-being,

the healthcare giant said.

"There is no one-size-fits all approach for glucose

monitoring, which is why we've designed different products for

different people," said Lisa Earnhardt, executive vice president

and group president of Abbott's medical devices business.

Abbott plans to launch Lingo this summer, a spokesperson

said, without disclosing further details on pricing. The company

said it would share details on pricing and availability of Libre

Rio later.

Lingo is already available in

Britain

since January at a cost of 120-150 pounds ($152-$190) per

month.

Libre Rio and Lingo are set to compete with Dexcom's ( DXCM )

Stelo, which the FDA

cleared in March, making it the first approved continuous

glucose monitor to be available over the counter.

Currently, FreeStyle Libre, used mainly by diabetes

patients, is Abbott's biggest product, with the company

targeting annual sales of $10 billion by 2028.

Abbott is already generating over $1 billion every

quarter from sales of FreeStyle Libre, which is sold under

prescription for patients with diabetes.