Forget Snowflake! Buy This Ultra-High-Growth Stock
Investors have understandably bid up shares of companies that deliver software as a service this year as those companies continue to benefit from a work-from-home world. For an example, we need only to look at the initial public offering of cloud-based data and analytics company Snowflake (NYSE: SNOW) -- its shares more than doubled on its first day of trading in September.
But there are other industries where growth is just as impressive -- and it's predicted to last for decades. For instance, of the 463 million people with diabetes worldwide, only 25% are receiving care for the disease. A 2017 study from the U.S. Centers for Disease Control and Prevention showed the annual cost of healthcare for the 30 million Americans with diabetes had grown to almost $17,000 per person, a 43% increase from a decade earlier. Reducing these costs requires patients to better manage the disease and make changes to their lifestyle -- an effort that has been aided by the introduction of continuous glucose monitoring (CGM) in the past two decades.
In 2004, Medtronic (NYSE: MDT) introduced a real-time monitoring system that could alert patients to dangerous blood glucose levels. DexCom (NASDAQ: DXCM) and Abbott (NYSE: ABT) introduced versions in 2006 and 2008, respectively. Although each company has innovated, DexCom's technological advances have stood out, driving consistently high sales growth and facilitating each aspect of managing diabetes: drugs, drug delivery, analytics, and care.
Source Fool.com
