Dexcom Launches the Next Phase in Evolution for CGMs

Dexcom has launched what is being called the first-ever over-the-counter continuous glucose monitoring system.  

The San Diego, CA-based company’s Stelo was cleared by FDA earlier this year and will go head-to-head with Abbott’s Libre Rio system, when it hits the market. Abbott announced winning a nod from FDA for the Libre Rio in June.

Stelo is a small biosensor worn on the back of the upper arm and is built on the same platform as Dexcom’s G7 CGM sensor. It is specifically designed to provide the 125 million Americans with type 2 diabetes not using insulin and those with prediabetes with powerful, personalized glucose insights sent directly to a smartphone, revealing how food, exercise, and sleep can affect glucose – all without painful finger sticks.

Dexcom noted that users can purchase a one-month supply online for $99 or sign up for an ongoing subscription at $89 a month.

“Dexcom glucose biosensors are an essential and proven tool for diabetes management – driving strong clinical outcomes regardless of medication use⁹ and even potentially slowing the progression of diabetes,” Thomas Grace, MD, head of clinical advocacy and outcomes at Dexcom said in a release. “In a world where GLP-1 use is becoming increasingly more common, glucose biosensors like Stelo can help make those medications more effective.”

Related:Diabetes Tech Is Having Its Best Year Yet

Marie Thibault, an analyst with BTIG wrote in a research note, “The launch comes as expected with management previously having guided to a late August timeline. We have already made a one-time purchase that will arrive with shipping in three business days and can confirm the ordering process was simple and smooth.”

Rapidly Developing Market

The CGM market is rapidly growing and the competition is increasing. The market for these devices is slated to reach sales of $20 billion by 2028, according to a report from EY citing data presented at the J.P. Morgan Healthcare Conference earlier this year.

CGMs are so popular that the wearable devices were used by athletes during the Paris Olympics. But not because the athletes were diabetic. The reason was to use the CGMs to optimize calorie intake and workout intensity as they prepare for competition.

In addition to using CGMs in a variety of different ways, some companies are looking to use the devices for longer periods. Senseonics is developing a 365-day CGM, which could launch in 4Q24. (Editor’s note: the Eversense 365 CGM hasn’t received a nod from FDA, yet).

Earlier this month, Abbott and Medtronic announced a landmark partnership in the CGM space. The collaboration calls for Abbott to design a CGM that would be sold by Medtronic.  

Related:What Abbott & Medtronic's Collaboration Means for Diabetes Tech

Thibault noted Dexcom’s news will help push the CGM market further.

“We continue to see a significant market opportunity for CGMs further down the acuity curve and believe this will represent the next phase of growth in the space.