DexCom, Inc. DXCM recently launched its mobile application, CLARITY. Notably, Notably, this smart app is a cloud-based diabetes management software that simplifies CGM (Continuous Glucose Monitoring) data reporting and facilitates confidential sharing of data between physicians and their patients. In fact, patients can now view the same on their phones. Clearly, this latest development is likely to fortify DexCom’s foothold in the CGM space. About DexCom’s CGM Profile Based in California, this medical device company is known for designing, developing and commercializing CGM systems. Currently, DexCom’s FDA-cleared CGM system — the DexCom G4 Platinum — is driving its top line significantly. Its inbuilt features like the G4 Platinum make the DexCom G4 Platinum the most innovative CGM system in the market. Last year, DexCom announced the FDA approval of the Dexcom G5 mobile app for Android devices. Diabetes Care Adopts Cloud-Based Services Smart apps have made self-management and continuous monitoring of diabetes affordable through the use of cloud-based applications. These applications can show real-time data on patients’ blood glucose levels on these apps. For instance, consumer fitness brand Fitbit FIT entered the space by a $6-million investment in Sano. Moreover, MedTech giant Medtronic MDT collaborated with IBM to develop Sugar.IQ — a cognitive mobile personal assistant app. This application intends to provide real-time actionable glucose insights and predictions for patients with diabetes. Also, MedTech behemoth Abbott ABT is dedicated to developing innovative products that make glucose testing easier and more accurate. Abbott’s products like Freestyle Libre, Freestyle Navigator II, Freestyle Lite, FreestyleInsulinx can be used by patients for personal glucose monitoring. Market Prospects In the United States, about 1.4 million new cases of diabetes are diagnosed every year.Going by an article of Allied Market Research, the global CGM systems market is expected to see a CAGR of 22.9% between 2018 and 2024. It also predicts that, the global market for artificial intelligence in diabetes management is expected to witness a CAGR of 50.7% between 2017 and 2023. Thus, DexCom’s latest move has been a well-timed one. Wall Street’s Next Amazon Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abbott Laboratories (ABT): Free Stock Analysis Report Fitbit, Inc. (FIT): Free Stock Analysis Report Medtronic PLC (MDT): Free Stock Analysis Report DexCom, Inc. (DXCM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research