Better Buy: Abbott Laboratories vs. DexCom
Medical device makers Abbott Laboratories (NYSE: ABT) and DexCom (NASDAQ: DXCM) are hoping small products can have a big effect for patients and investors alike; both companies have new, sleeker continuous glucose monitoring devices (CGMs) in the works. Diabetes is one of the most prevalent diseases in the world, with 700 million people expected to be living with it by 2045, according to the International Diabetes Federation.
There are 34 million diabetics in the United States, with 1.5 million people newly diagnosed each year. Many diabetics are turning to CGMs -- which provide real-time monitoring, rather than requiring a finger prick -- to ensure their blood sugar is at a healthy level. Companies that sell CGMs can expect both growth and competition in the space; the compound annual growth rate is expected to be roughly 22% through 2027, according to one study.
Image source: Getty Images.
Source Fool.com
