Dexcom’s new CEO is eyeing growth in the international market as a key strategy for 2026, fresh off the back of the company reporting strong full year 2025 (FY25) revenues.
Speaking at the ongoing J.P. Morgan Healthcare Conference, Dexcom’s new CEO Jake Leach said: “We’ve built our company based on leadership in the US, and we’re now going to take that and apply it to the international markets, particularly our ability to open up access and coverage for people with CGM to unlock new opportunities that don’t exist today.”
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A GlobalData market model reveals that Dexcom, an American headquartered company, held a continuous glucose monitor (CGM) market share of 44.7% in the US in 2025, second only to Abbott in pole position with a 48.5% share. However, in territories including Europe, the Asia Pacific (APAC) region and the Middle East & Africa (MEA), Dexcom’s market share is dwarfed by leader Abbott.
According to Leach, Dexcom’s planned 2026 release of randomised controlled trial results from a large non-insulin patient study (typically type 2 diabetics) will “set the company up well” for global expansion of coverage for this population and therefore contribute to its international market growth over time.
According to a GlobalData market model, the CGM market is growing at a CAGR of 9.85% and projected to reach a valuation of $15.69bn in 2035.
Dexcom heads into 2026 on the back of a strong foundation. The company achieved FY25 revenues of around $4.66bn, corresponding to a 16% uplift over FY24. The company now expects to achieve FY26 revenues of $5.25bn at the top end.
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By GlobalDataLeach commented: “We did this by adding a record number of new patients to Dexcom.”
Leach officially became Dexcom’s new CEO from 1 January, superseding predecessor Kevin Sayer.
“We exited 2025 with approximately 3.5 million active customers, which is an increase of over 20% from where we exited in 2024,” Leach continued.
Following the release of its FY25 financials on 12 January, Dexcom’s shares on the Nasdaq stock exchange rose by 5.31% to $70.98 per share at market close. Dexcom has a market cap of $27.68bn. Dexcom’s US Food and Drug Administration (FDA) approvals for G7 15-day CGM and Smart Basal, a CGM-integrated basal insulin dosing optimiser for type 2 (T2) diabetics, were significant factors in Dexcom’s FY25 success, Leach said, with the newly approved products expected to “ensure” the company’s growth into 2026.
The G8 CGM step-change
Leach also teased what Dexcom is working on for G8, the next-generation version of its CGM, while not disclosing a launch timeline.
“G8 is going to raise the bar again,” Leach said. “It’s going to be the most advanced wearable system we’ve ever produced, and a further step-change improvement in accuracy and reliability. It’s also going to be 50% smaller than G7, which will make it the smallest CGM on the market post-launch.”
Given that G8 will feature Dexcom’s most “advanced sensor capabilities” to date, Leach highlighted that once available, G8 will be used to expand into other opportunities in the broader diabetes market.
Leach pointed to gestational diabetes and the 100 million-strong pre-diabetes patient population in the US as significant areas where Dexcom sees future growth opportunity.
“There’s another significant opportunity in the hospital setting: with over 14 million dysglycemia events, there’s a significant need for a better way to manage and monitor glucose,” Leach added.
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