CGM use exceeds analysts’ expectations

According to Drug Delivery Business, industry analysts are surprised at the increase in users of CGM within the non-insulin and basal insulin populations.

William Blair analyst Margaret Kaczor expects Dexcom and Abbott to benefit from the trend with their next-generation CGM offerings after meetings with both companies’ management. Both companies have launched next-gen CGMs in recent years (the Dexcom G7 and Abbott FreeStyle Libre 3). Dexcom has also begun rolling out its Stelo over-the-counter non-insulin CGM, while Abbott has its Lingo non-insulin biowearable coming to the US soon.

According to Kaczor, there are nearly 300,000 new non-insulin CGM users, compared to a projection of 200,000. This is in addition to the still-underpenetrated opportunity in the insulin-using diabetic patient population. The analyst’s bullish outlook now includes a projected 24% volume growth, compared to an 18% projection. “This would represent a domestic CGM market of $7.8 billion-plus in 2025 and $10.3 billion in 2027, making it one of the fastest-growth stories we are aware of in a medical technology market greater than $5 billion in size,” Kaczor said.

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