Armed with CE mark, Dexcom rolls out next-gen glucose monitor

San Diego's Dexcom ($DXCM) gained a CE mark for its next-generation Dexcom G4 continuous glucose monitoring system, freeing it to start marketing the device in countries that recognize the approval status. Plans call for rolling out the product in the European Union and a number of countries in Asia and Latin America in the coming months through a series of distributors.

Founded in 1999, the company has experienced some robust product revenue growth, with $65.9 million booked in 2011, compared to $40.2 million in 2010, according to its financial results. But growth isn't easy, considering lots of companies make glucose monitoring systems, ranging from Abbott ($ABT), to Medtronic, Johnson & Johnson ($JNJ) and a whole slew of others, large and small. In short, the market is crowded, so Dexcom needs to grow, and Asia and Latin America in particular will be key in tapping into some of that emerging market growth.

Still, the global diabetes market continues to grow, so one could argue that there is plenty of room for multiple players. More than 366 million people globally are affected by diabetes, according to International Diabetes Federation statistics cited by Dexcom.

The company, which lost over $12 million in 2011, is aggressively moving to develop next-generation glucose management products. Dexcom is working with Tandem Diabetes care to develop one that would use Tandem's T:Slim touch screen insulin pump. If successful, this combination product would face one initial competitor: Medtronic's ($MDT) Paradigm device.

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