Tandem Diabetes Care, Inc. (TNDM - Free Report) recently attained Health Canada approval for the t:slim X2 insulin pump with Basal-IQ technology. Notably, Basal-IQ technology is a predictive low-glucose suspend algorithm which utilizes sensor values from an integrated Dexcom G6 continuous glucose monitor to help lessen the frequency and duration of low-glucose events (hypoglycemia).
This regulatory clearance is expected to accelerate Tandem Diabetes’ global pump shipments and expand its customer base.
More About Basal-IQ Technology
The company’s ability to offer in-warranty t:slim X2 pump users a software update to add Basal-IQ technology to their current pumps using a personal computer makes the t:slim X2 insulin pump stand out in the diabetes care market.
All in-warranty t:slim X2 pump users in Canada will have the option to integrate Basal-IQ technology to their existing pump free of cost via remote software update, starting February 2020.
Some of the advantages of the Basal-IQ technology are efficiency in forecasting and preventing low-glucose events as well as no requirement of finger sticks or complicated settings.
One of the unique features of the t:slim X2 insulin pump is that it has greater insulin holding capacity in spite of being smaller in structure.
Per Market Research Future, the global insulin market is expected to see a CAGR of 8.4% and reach a worth of $8.52 billion by 2023.
Lately, Tandem Diabetes has made a major development which has boosted the application of the t:slim X2 insulin pump with Basal-IQ technology.
In October 2019, the company announced real-world positive data from pediatric users of the t:slim X2 insulin pump with Basal-IQ technology.A subsegment of users with at least 21 days of sensor-enhanced pump data prior to use of Basal-IQ technology highlighted a 31% reduction in hypoglycemia.
Shares of this company have surged 110.1% in a year compared with the industry’s 13.2% gain.
Zacks Rank & Other Stocks Worth a Look
Tandem Diabetes currently carries a Zacks Rank #2 (Buy)
A few other top-ranked stocks from the broader medical space are CONMED (CNMD - Free Report) , NuVasive, Inc (NUVA - Free Report) and ResMed (RMD - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CONMED has a projected long-term earnings growth rate of 17%.
NuVasive has an expected long-term earnings growth rate of 10.9%.
ResMed has a long-term earnings growth rate of 12.9%.
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