DexCom, Abbott to benefit from the multi-billion-dollar OTC continuous glucose market
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Contributor since / Followers
Contributor since / Followers
3 months ago
miodrag ignjatovic
- Although neither company has launched their U.S. FDA-approved over-the-counter continuous glucose monitors, DexCom (NASDAQ:DXCM) and Abbott Laboratories (NYSE:ABT) are set to profit handsomely from them.
- By 2033, the global market for CGMs available without a prescription is expected to reach $5.1B in 2033, according to GlobalData. The data and analytics firm noted that there are 97.6 million Americans with prediabetes.
- DexCom’s Stelo, which was approved in March, is expected to launch later in August. Abbott won approval of Lingo and Libre Rio in June, and both are expected to launch sometime this summer.
- Lingo is designed for prediabetics who want to monitor their glucose levels and create healthier habits, while Libre Rio is for those with type 2 diabetes who don’t need insulin and manage their condition with lifestyle changes.
- Abbott has said that Lingo and Libre Rio will help the company achieve its goal of increasing its Libre family of CGM product’s annual revenue to $10B by 2028.