Yahoo Finance DexCom's (DXCM) G6 CGM System Gets CE Marking in Europe
DexCom, Inc. DXCM recently announced that the Dexcom G6 continuous glucose monitoring (CGM) System has obtained CE Marking across Europe for attaching on the back of the upper arm, thereby offering patients more choice when it comes to comfortably wearing their device. This development is likely to not only strengthen its presence in the lucrative glucose monitoring market but also boost product portfolio.
Notably, the FDA approved Dexcom G6 CGM System allows patients to know their glucose data and indications, which helps in making treatment decisions without the need of fingersticks and calibration.
Benefits of the Development
This new option will now enable all patients in Europe (over the age of two) to wear their Dexcom G6 on the back of the upper arm or the abdomen. In fact, patients till the age of 17 can also wear their device on the upper buttocks.
The CE Marking comes as a breakthrough development for all Dexcom G6 users, thereby highlighting the company’s commitment toward innovation with respect to diabetes management.
Another Development
In February, DexCom — the leader in CGM — made an announcement that the Dexcom G6 CGM System has received the CE Mark for use during pregnancy in the European Union. It will be made available soon starting with the United Kingdom in Spring 2020.
Pregnant women with Type 1, Type 2 or gestational diabetes can face serious problems (both for the mother and child) if the glucose levels are not monitored and controlled closely. With the solutions for diabetes management during pregnancy being limited, the CE Mark for the Dexcom G6 offers more choice for both healthcare professionals and patients to manage the disease.
Market Prospects
Per a report by Grand View Research, the global CGM device market size was valued at $3.93 billion in 2019 and is estimated to witness a CAGR of 12.7% during the forecast period (2020-2027). Rising cases of diabetes and higher adoption of CGM devices have been driving the market.
Price Performance
Shares of this Zacks Rank #3 (Hold) company has rallied 174.6% in a year’s time compared with the industry’s growth of 9.2%.
Key Picks
Some better-ranked stocks from the broader medical space include Aphria Inc. APHA, DaVita Inc. DVA and West Pharmaceutical Services, Inc. WST. While West Pharmaceutical sports a Zacks Rank #1 (Strong Buy), Aphria and DaVita carry a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
West Pharmaceutical has a projected long-term earnings growth rate of 9.2%.
Aphria has an estimated long-term earnings growth rate of 24.6%.
DaVita has an estimated long-term earnings growth rate of 9.1%.
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