Dexcom (DXCM) Baird Global Healthcare Conference 2025 summary

Market performance and demand trends

• Strong new patient starts in Q2, maintaining momentum from previous record quarters.

• Healthy end market demand for CGM, with U.S. leading in coverage and adoption.

• International markets show growing awareness and adoption, though slightly behind U.S. in access, especially for type 2.

• Guidance for 2025 was raised, reflecting confidence in execution and business trajectory.

• Focus remains on executing to plan in 2025 to lay groundwork for future growth.

Competitive landscape and product positioning

• Minimal concern about user migration due to competitor sensor integrations; most users prefer integrated systems.

• Leadership in AID systems with over 2.6 million cumulative years of patient experience.

• High loyalty among customers using integrated pump and sensor systems.

• Continuous improvements to G7 platform, including adhesive, Bluetooth range, and app features.

• System complaint rates are flat to down since launch, with ongoing focus on customer experience.

Patient segments and market expansion

• Consistent growth in intensive insulin (type 1 and type 2) patient starts, with expanding access driving higher total new patient adds.

• Type 1 penetration in the U.S. remains around 60-65%.

• Share win rate in basal segment has increased above 40% in recent quarters.

• Broader presence in primary care and product personalization expected to drive further growth.

• Internationally, new coverage opportunities are emerging in Canada, Europe, Australia, and the Middle East.