Tandem Diabetes (TNDM) Avails Tandem Source in the United States
Tandem Diabetes Care, Inc. TNDM recently announced the full U.S. launch of its diabetes management platform, Tandem Source. The global data management application targets clinicians and expands the capabilities of the Tandem Diabetes’ t:connect data management application available for customers in the United States.
The innovation enhances clinical data visualization and provides added interface customization for health care providers (HCPs) to manage their patient's care better, whether remotely or in person. The platform is available for all Tandem pump users and their HCPs in the United States, with international availability expected in 2024.
News in Detail
Tandem Source is designed to integrate the features of Tandem’s legacy t:connect, t:connect HCP and t:connect Portal offerings with new comprehensive data reporting in one central, scalable platform. The company began a scaled global launch of Tandem Source earlier in the second quarter of 2023. Feedback from the early adopters of the application in the United States has been overwhelmingly positive.
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The platform provides access to important therapy data and introduces convenient ways for pump users to reorder supplies and update their pump software. For HCPs, Tandem Source provides the tools necessary to seamlessly view critical patient data, identify trends and help their patients better manage their diabetes. Both HCPs and pump users also have access to three new Tandem Source reports in the platform.
Tandem Source features a new web-based pump uploader that offers faster data transfers to the cloud with no computer software to install or update. It automatically transfers data from users’ pumps using the t:connect mobile app, keeps online data current and removes the need for manual pump uploads. Tandem Source offers three easy-to-use reports that consolidate all the information required for HCPs to make impactful clinical recommendations.
Industry Prospects
Per a Research report, the AID system market was valued at $749.2 million in 2022 and is expected to witness a CAGR of 9.8% by 2030.
Other Notable Highlights
It has been a transitional time for Tandem Diabetes, preparing for the next phase of growth through an innovative portfolio that reduces the burden of diabetes management. The company is executing multiple near-term product launches while implementing scalable systems and processes to support its global operations and leverage the infrastructure.
Last week, TNDM introduced the highly-anticipated t:slim X2 insulin pump software with Dexcom G7 Continuous Glucose Monitoring (CGM) integration in the United States. The company’s number-one rated automated insulin delivery (AID) system with Control-IQ technology is the only AID option in the world today to use Dexcom’s most advanced CGM technology.
In July 2023, Tandem Mobi, distinguished as the world’s smallest durable AID system, received FDA clearance. Mobi sets a new paradigm with the features of multiple wearability options, detachable infusion sets and the discretion of its mobile app operation. A limited release of Tandem Mobi is expected to start in late 2023, with full commercial availability planned for early 2024.
Price Performance
In the past six months, TNDM’s shares have declined 6.6% compared with the industry’s fall of 9.5%.
Zacks Rank and Key Picks
Tandem Diabetes Care currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Insulet PODD and DexCom DXCM. Haemonetics and DexCom each carry a Zacks Rank #2 (Buy), and Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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