Dexcom is the latest US-based medtech titan to move manufacturing to its European base, in Ireland.
Dexcom launched in 1999 and since then has become a leader in diabetes technology, with a goal to ‘simplify and improve diabetes management for every possible person with diabetes’. Dexcom’s most valuable contribution is undoubtedly its glucose sensor maker. In the past, it was only possible to measure glucose levels via a finger stick test. Now, diabetes patients can use Dexcom’s wearable device, the Continuous Glucose Monitor, to take medical readings.
Dexcom’s new medical equipment manufacturing facility will open in Athenry, County Galway, becoming Dexcom’s first European manufacturing site.
Dexcom's state-of-the-art manufacturing facility in Ireland to balance medical equipment supply chain
Dexcom’s five-year, €300m ($345m) project to build its factory in Ireland will help to diversify its supply chain in manufacturing and selling its diabetes management devices across Europe and even further, will the Middle East and Africa in sight. It is hoped that this will lower costs and shorten delivery times.
“The creation of the DexCom manufacturing facility will undoubtedly be a game-changer for the West of Ireland,” said Barry Regan, Dexcom’s executive VP of operations. “This is a pivotal moment for DexCom and we are confident it will have an immensely positive impact in Galway and the wider region too, not only in relation to job creation but also as we become part of and contribute to this community.”
Leo Varadkar, Ireland’s taoiseach, has praised the project.
“This is one of the biggest single private sector investments ever in the West of Ireland,” he said.
IDA Ireland, Ireland’s Investment Promotion & Development Agency, said that each of the Dexcom jobs will create another job in the region, by increasing new roles among local businesses. In addition to that,
Dexcom has made a deal with the local Connacht Rugby team and the Galway stadium, where the team’s rugby matches are held will be known as DexCom Stadium, for the next 12 years.
Dexcom's remarkable year for medical equipment manufacturing
DexCom recently reported that it expects its revenue for the fourth quarter to reach US$1.030bn, an increase of 26% over the fourth quarter from 2022. For fiscal 2023, revenue is approximately US$3.62bn, an increase of 24% over 2022.
“Dexcom had an incredible year in 2023 with the largest expansion of coverage in our company’s history, a successful rollout of Dexcom G7 in the US and expansion of G7 to more than 15 international markets, and an acceleration in our revenue growth,” said Kevin Sayer, Dexcom’s Chairman, President and CEO. “We plan to continue this momentum in 2024 and further expand our addressable market with the expected launch of our first product for people who do not use insulin.”
Stelo, the new glucose sensor manufactured specifically for people with type 2 diabetes who do not use insulin, was submitted to the FDA for review in Q4 2023.
Stelo will offer:
- 15-day sensor wear
- A cash-pay option
- A software experience tailored specifically for non-insulin users.
“Understanding glucose levels is key to unlocking our metabolic health, and Stelo will help users see first-hand how their health is affected by factors such as diet, exercise, sleep and stress,” said Jake Leach, Executive Vice President and Chief Operating Officer at Dexcom. “Through our expanding product portfolio, Dexcom is defining the future of sensing technology and empowering people to take control of health.”
Stelo will launch in the US this summer.
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