If you're looking for stocks that can put up big gains next year, you've got more than a few viable options. Soaring interest rates have decimated growth stocks of all shapes and sizes in 2022, and some are poised to come roaring back.

During bear markets like the one we're experiencing, shares of great businesses can fall just as easily as shares of stocks that are best avoided. Here's why these three stocks look like excellent options to buy now and hold through 2023 and beyond.

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1. DexCom

DexCom (DXCM -2.67%) is a niche medical device company that specializes in constant blood glucose monitors. These are battery-powered stickers that send blood sugar readings to smartphones and other devices connected to the internet.

Keeping blood sugar in an ideal range doesn't just lead to better health outcomes; it can save healthcare plan sponsors a bundle. Regular use of a CGM goes a long way toward reducing costly hospitalizations that become necessary when a diabetic patient's blood sugar rises too high or falls too low.

Shares of DexCom have recovered from low points over the summer, but the stock is still 31% below the all-time high it reached in 2021. Next year could be one to remember because the company's next-generation CGM is expected to earn a long-awaited approval from the U.S. Food and Drug Administration by the end of 2022.

DexCom reported third-quarter revenue that rose 18% year over year in the third quarter. With the ability to market a smaller, more advanced CGM in the U.S. soon, 2023 could be another year of rapid growth for this company and its shareholders.

2. SoFi Technologies

SoFi Technologies (SOFI -0.28%) is an all-digital bank that got started around a decade ago as the first company to refinance student loans. Now, it's a full-service consumer bank and a technology provider for a large cross-section of smaller fintech businesses.

SoFi's membership roster has more than tripled in size over the past two years to reach 4.7 million at the end of September. Its business-to-business operation is also growing at a rapid clip. The number of accounts enabled by its technology platform soared 40% year over year to 124 million.

This January, the company obtained a national banking charter, Now, it can use its members' savings and checking account deposits to fund lucrative auto loans and personal loans. As a result, its operation is rapidly heading toward profitability. Earnings before interest, taxes, depreciation, and amortization (EBITDA) are expected to reach 8% of total revenue this year. That's up from just 3% last year and negative territory in 2020.

3. InMode

According to Grand View Research, the global market for medical aesthetics reached a whopping $99 billion in 2021, and it's expected to more than triple by 2030. Buying some shares of InMode (INMD 0.40%) looks like a smart way to take advantage of this trend.

InMode develops and markets minimally invasive devices that contour and shape various parts of the human anatomy using its proprietary radiofrequency technology. Instead of relying on sales of the devices themselves, the company sees an increasing percentage of total revenue coming from sales of consumables accessories that need to be replaced before each procedure. 

Despite macroeconomic headwinds, total revenue from services and consumables soared 53% year over year in the third quarter, and operations are already strongly profitable. Adjusted earnings are expected to come in around at around 48% of total revenue this year.

At recent prices, you can scoop up the stock at just 15.6 times this year's adjusted earnings expectations. With a unique business that keeps gaining a share of the enormous, rapidly growing medical aesthetics market, this stock looks like an unbelievable bargain.