Diabetes Drugs Market Competitive Landscape

The diabetes drugs market is fragmented with hardly any significant and generic players. The market for insulin drugs and Sglt-2 drugs is dominated by several major players such as Novo-Nordisk, Sanofi, AstraZeneca and Bristol Myers Squibb. The market for oral drugs such as sulfonylureas and meglitinides includes more generics. The competition among the participants is intense as each player is trying to develop new drugs and offer them at competitive prices. Moreover, in order to increase market share, participants are entering new markets, especially in emerging market economies, where demand is high compared to supply.

Diabetes Drugs Market Competitive Landscape

Recent developments in the diabetes care drugs market include.

In January 2020, the U.S. FDA approved Trijardy XR (engrams/ ligustine/metformin hydrochloride extended-release tablets) to lower blood glucose in adults with type 2 diabetes.Trijardy XR provides three type 2 diabetes medications in a single pill.

In September 2019, Novo Nordisk announced the FDA approval of Rybelsus (semaglutide) oral tablets for adults with type 2 diabetes. With this approval, Rybelsus becomes the first glucagon-like peptide (GLP-1) receptor protein therapy to be approved for use in the U.S. without the need for injections.

In March 2019, Novo Nordisk announced its plans to invest approximately $98 million to upgrade and expand its insulin drug manufacturing facility in Kalundborg, Denmark. The project is scheduled to be completed by the end of 2020.