The diabetes drugs market is growing steadily due to the rising global prevalence of diabetes and increasing demand for effective treatment options. This market includes a wide range of medications, such as insulin, oral hypoglycemics, and newer drug classes like GLP-1 receptor agonists and SGLT-2 inhibitors. Advances in drug formulations, patient awareness, and access to healthcare are driving adoption across both developed and emerging regions. With a focus on better disease management and improved patient outcomes, the diabetes drugs market is expected to expand significantly in the coming years.
According to Fortune Business Insights, the global diabetes drugs market was valued at USD 88.32 billion in 2024. The market is projected to grow from USD 101.48 billion in 2025 to USD 233.84 billion by 2032, exhibiting a CAGR of 12.7% during the forecast period. In 2024, North America dominated the diabetes drugs market with a market share of 49.95%.
Novo Nordisk received a Complete Response Letter (CRL) from the U.S. FDA concerning its Biologics License Application (BLA) for once-weekly basal insulin icodec. This decision highlights both the market’s shift toward extended-duration insulin therapies and the regulatory scrutiny faced by big pharma.