ABT - Better Buy: Abbott Laboratories or DexCom Stock?
Americans are getting heavier and have been for a while. According to the Centers for Disease Control and Prevention, U.S. obesity prevalence has increased since 1999, from 30.5% to 41.9%, with severe obesity growing from 4.7% to 9.2%.
With all that extra weight comes an increased likelihood of certain obesity-related conditions, such as heart disease, strokes, certain cancers, and type 2 diabetes. According to MarketStudyReport, a market research firm, the global diabetes care devices market was $23.3 billion in 2022 and is projected to reach $32.7 billion by 2028, representing a compound annual growth rate of 4.95% over this period.
Abbott Laboratories (NYSE: ABT) and DexCom (NASDAQ: DXCM) are both poised to benefit from increased spending on diabetes care devices as they manufacture continuous glucose monitoring devices used by diabetes patients. Which healthcare company is the better buy? Let's see.
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Better Buy: Abbott Laboratories or DexCom Stock?