The glucose monitoring market is worth $10 billion per year, and wireless communication technologies can do pretty much anything these days. But for some reason, the diabetes-management industry has been oddly slow to introduce a remote glucose monitoring device that’s easy to use, works wirelessly and makes a meaningful difference in the way diabetes patients manage their illness. DexCom (DXCM) appears to be the company leading the long-awaited change on that front.
DexCom shares are up 125% this year, largely on the heels of the launch of the G4 Platinum glucose monitoring device. It was approved in June of last year, and become available for purchase about three months later. So far, DXCM has increased sales by about 50% thanks to the launch of the G4 Platinum device. With 26 million diabetics in the United States alone, however, DexCom has only begun to scratch the surface.