SGLT2 Inhibitors Market - By Drug Class, By Indication, By Distribution Channel - Global Forecast, 2025 - 2034

SGLT2 Inhibitors Market Size

The global SGLT2 inhibitors market was valued at USD 19.2 billion in 2024. The market size is estimated to grow from USD 20.4 billion in 2025 to USD 38.6 billion in 2034, growing at a CAGR of 7.4% from 2025 to 2034. The market growth is fueled by the growing number of people affected globally with diabetes, specifically type 2 diabetes.
 

For instance, the International Diabetes Federation (IDF) estimates that by 2045, one in eight adults, nearly 783 million people globally, will be living with diabetes, with more than 90% of these patients estimated to have type 2 diabetes. This rising disease burden increases the demand for novel SGLT2 inhibitors, thereby contributing to market growth.
 

SGLT2 inhibitors such as Empagliflozin and Dapagliflozin have gained popularity due to their dual advantages of achieving glycemic control and reducing cardiovascular risks, which are not offered by conventional diabetes therapies, thereby supporting market growth. Furthermore, other factors including advancements in clinical research and development have also contributed significantly to market expansion. The new evidence demonstrating the safety and efficacy of SGLT2 inhibitors to decrease hospitalization and mortality among patients with heart failure and chronic kidney disease has broadened the use of these medicines. Such developments have led regulatory agencies, including the FDA and EMA, to expand indications for these medicines, thereby augmenting the market growth potential.
 

SGLT2 inhibitors (sodium-glucose co-transporter-2 inhibitors) are a subgroup of antidiabetics that manage type 2 diabetes mellitus. These agents work by blocking the sodium-glucose co-transporter-2 (SGLT2) protein found in the kidneys, causing an increase in the amount of glucose eliminated through urine, resulting in decreased blood glucose levels. Other than diabetes, SGLT2 inhibitors provide cardiovascular and renal protection by reducing the risks of heart failure and the progression of kidney disease. Empagliflozin, dapagliflozin, and canagliflozin are some common SGLT2 inhibitor drugs.
 

SGLT2 Inhibitors Market Trends

• The surging prevalence of type 2 diabetes is one of the major trends which is significantly influencing the growth of the market.
   
• According to the International Diabetes Federation, an estimated 537 million people suffered from diabetes globally in 2021, with projections estimating this number to rise to 643 million by 2030. This increase in diabetes is the result of sedentary lifestyles, dietary habits, an aging population, and increasing obesity levels.
   
• As diabetes is becoming more prevalent, there is greater scope for new treatment options geared toward controlling blood glucose levels as well as addressing associated health issues.
   
• SGLT2 inhibitors have been recently recognized as a transformative class of drugs. Initially these inhibitors were particularly developed for type 2 diabetes but have shown to offer significant benefits beyond glycemic control, including protecting against cardiovascular diseases as well as preserving renal function.
   
• The successful clinical trials results have also granted regulatory approvals for the treatment of heart failure and chronic kidney diseases (CKD) in non-diabetic patients. This versatility has gained traction in the market, permitting doctors to address several comorbidities simultaneously using one treatment.
   
• Hence, SGLT2 inhibitors are gaining greater acceptance and are positioned at the leading edge of treatment for chronic metabolic and cardiovascular diseases.
   

Trump Administration Tariffs

• The tariffs on imports from China on various pharmaceutical components implemented during the Trump presidency may increase the cost of raw materials, thus affecting the market.
   
• The imposition of tariffs on pharmaceutical components or finished medicines imported from China might result in higher production costs for some manufacturers. Given that a significant number of active pharmaceutical ingredients (APIs) as well as other materials for drug manufacturing are procured from abroad, especially China and India, these tariffs could potentially strain supply chains and increase production costs.
   
• Smaller biotech firms and generic pharmaceutical industries might be more severely impacted, and their ability to compete could potentially be hindered, which might affect market growth. The SGLT2 inhibitors market includes major players like Boehringer Ingelheim International GmbH, AstraZeneca, Johnson & Johnson Services, Inc., and emerging players like Glenmark Pharmaceuticals Ltd. and Lexicon Pharmaceuticals, Inc., with varying capacities to absorb additional costs.
   
• In order to reduce the potential impact of tariffs, businesses might shift their supply chains or increase production within the country. This could potentially result in temporary disruptions but might bolster supply chain resilience in the long run. The current U.S. administration's recent proposal to eliminate de minimis exemptions for Chinese shipments would require all affected imports to undergo formal customs entry, which could lead to longer clearance times for pharmaceutical raw materials and API samples.
   
• However, the market might continue facing rising costs, decreased affordability, and slower adoption, especially in emerging markets, which could potentially affect the growth SGLT2 inhibitors have experienced.
   

SGLT2 Inhibitors Market Analysis

In 2021, the global market was valued at USD 16.4 billion. The following year, it saw a slight increase to USD 17.2 billion, and by 2023, the market climbed further to USD 18.2 billion.
 

Based on the drug class, the global market is segmented into Jardiance (empagliflozin), Farxiga (dapagliflozin), Invokana (canagliflozin), Inpefa (sotagliflozin), Qtern (dapagliflozin/saxagliptin) and other SGLT2 inhibitors. The Jardiance (empagliflozin) segment was valued at USD 10.2 billion in 2024.
 

• The growth is primarily driven by the increasing prevalence of type 2 diabetes and the expanding therapeutic indications of the medication.
   
• Along with glycemic control, Jardiance has demonstrated positive outcomes for improving heart health, including decreased cardiovascular death in people with Type 2 diabetes and heart disease. This has broadened its use among healthcare providers, further boosting its market share.
   
• Furthermore, it has also been beneficial in weight loss and reducing blood pressure, thus enhancing its reputation and adoption as a treatment option for several diseases associated with diabetes.

Based on the indication, the global SGLT2 inhibitors market is categorized into type 2 diabetes, cardiovascular diseases, chronic kidney disease (CKD), and other indications. The type 2 diabetes segment dominated the global market with 67.8% market share in 2024.
 

• This dominance is due to the increase in the worldwide incidence of type 2 diabetes, which has been exacerbated by an increase in obesity rates, aging population, sedentary lifestyles, and poor eating habits. Thus, the increasing occurrence of such chronic conditions has created a greater demand for effective and easy treatment options.
   
• Additionally, these SGLT2 inhibitors are gaining popularity due to their increasing use with other antidiabetic drugs as a combination therapy, which improves treatment outcomes and enhances patient adherence. These types of combination therapies are highly regarded by providers because they yield multifaceted benefits.
   
• Furthermore, expanding healthcare budgets and growing public and private investment in diabetes management programs have reinforced market growth, particularly in developed and emerging economies. As a result, the type 2 diabetes segment is expected to maintain its leading position in the coming years.
   

Based on the distribution channel, the global SGLT2 inhibitors market is classified into hospital pharmacies, retail pharmacies, and online pharmacies. In 2024, the hospital pharmacies segment held highest market share and is expected to grow at 7.1% CAGR over the analysis period.
 

• The high market share of the segment can be attributed to the incorporation of specialty pharmacy services, which streamline the continuum of care and improve patient outcomes.
   
• Additionally, the provision to provide immediate access to medications for inpatients and discharged patients improves adherence to treatment and minimizes readmission rates, which further strengthens their market position.
   
• Moreover, their strategic partnerships with pharmaceutical companies guarantee easy availability and accessibility of new treatment modalities, thus allowing healthcare providers to offer the latest treatments without any delays.
   
• All these factors, along with their critical role in the healthcare system, have positioned hospital pharmacies as leaders in this market, anticipating considerable growth during the analysis period.

The North SGLT2 inhibitors market dominated the global market with a market share of 41.1% in 2024 and is expected to grow at 7.2% CAGR over the analysis period.
 

The U.S. market was valued at USD 6.2 billion in 2021. In 2024, the U.S. dominated the North America market with a revenue of USD 7.3 billion, growing from USD 6.9 billion in 2023 and USD 6.5 billion in 2022.
 

• Based on the report by the National Institutes of Health, as of 2021, 38.4 million people across all age groups had diabetes in the U.S. This notable increase poses a considerable demand for effective diabetes treatment, thus driving the growth of the market in the country.
   
• In addition, the U.S. has a well-established healthcare network which incorporates diabetes treatment and management, allowing for expansion of the market.
   

Germany SGLT2 inhibitors market is anticipated to highlight significant growth in Europe market over the forecast years.
 

• Strong healthcare system coupled with government-funded drug reimbursement policies in Germany have further boosted adoption rates of SGLT2 inhibitors in the country.
   
• In addition, ongoing research and clinical trials, as well as partnerships between pharmaceutical companies and healthcare professionals, strengthen the market.
   
• Further, the increased focus on management and preventative care of chronic health conditions has driven the use of SGLT2 inhibitors as part of combination therapy.
   

India SGLT2 inhibitors market is expected to display lucrative growth in the Asia Pacific market.
 

• According to an article published in the National Medical Journal of India, the prevalence of CKD has increased to epidemic proportions, and population-based studies have reported a 4%–20% prevalence of CKD in India.
   
• This emerging CKD burden, along with the increasing number of diabetes cases, will increase the need for effective SGLT2 therapies in India.
   
• Moreover, due to the multi-organ protective properties of SGLT2 inhibitors like the treatment of diabetes and CKD, the market is expected to grow substantially in the country.
   

Brazil's SGLT2 inhibitors market is expected to experience significant growth over the analysis period.
 

• In Brazil, the escalating diabetic population due to lifestyle modifications and an aging demographic has created a strong demand for effective treatment options like SGLT2 inhibitors.
   
• Additionally, Brazil's expanding healthcare system and the availability of innovative therapies, including SGLT2 inhibitors, coupled with increased public awareness of diabetes and its complications, will further contribute to the market's growth.
   

Saudi Arabia SGLT2 inhibitors market is poised to witness high growth in the Middle East and Africa market in coming years.
 

• As the population becomes more urbanized and lifestyle-related diseases such as type 2 diabetes and hypertension increase, the demand for effective diabetes management therapies like SGLT2 inhibitors is set to rise in the country.
   
• Moreover, government initiatives to improve healthcare infrastructure and access to essential medicines are expected to facilitate the adoption of these medications.
   
• With growing healthcare investments and a rising focus on managing chronic diseases, Saudi Arabia presents a favorable market for the expansion of SGLT2 inhibitors in the coming years.
   

SGLT2 Inhibitors Market Share

The market is characterized by intense competition and rapid innovation, with major pharmaceutical companies vying to strengthen their foothold through strategic collaborations, acquisitions, and robust R&D pipelines. The top 4 players such as AstraZeneca, Boehringer Ingelheim, Eli Lilly, and Johnson & Johnson account for approximately 35% of the market share. These companies leverage strong clinical trial data, broad indications across type 2 diabetes, cardiovascular disease, and chronic kidney disease, and expansive global distribution networks to maintain their leadership.
 

Additionally, the expansion of SGLT2 inhibitors into non-diabetic indications has intensified competition and opened new growth avenues. As companies continue to innovate and expand their portfolios, market share will increasingly depend on a combination of clinical differentiation, strategic market access, and adaptability to evolving healthcare needs.
 

SGLT2 Inhibitors Market Companies

Few of the prominent players operating in the SGLT2 inhibitors industry include:

• Astellas
• AstraZeneca
• Boehringer Ingelheim International
• Bristol-Myers Squibb Company
• Eli Lilly and Company
• Glenmark Pharmaceuticals
• Johnson & Johnson (Janssen Pharmaceuticals)
• Lexicon Pharmaceuticals
• Lupin Limited
• Merck
• Sanofi
• TheracosBio

• Merck, in collaboration with Pfizer, strengthens its position in the market through STEGLATRO (ertugliflozin). Backed by the large-scale Phase 3 VERTIS CV trial involving over 8,200 patients with type 2 diabetes and atherosclerotic cardiovascular disease, Merck highlights its commitment to evidence-based therapies addressing both glycemic control and cardiovascular outcomes globally.
   
• Glenmark Pharmaceuticals has reinforced its leadership in the market with the launch of Remogliflozin etabonate, a novel, patent-protected, and globally researched molecule. Introduced in India for the treatment of type 2 diabetes in adults, this innovation underscores Glenmark's commitment to pioneering affordable, homegrown solutions in diabetes care and enhancing therapeutic options for patients.
   

SGLT2 Inhibitors Industry News

• In March 2025, Glenmark Pharmaceuticals launched empagliflozin, a well-established SGLT2 inhibitor, in the Indian market under the brand name Glempa (10/25 mg). The launch also includes its fixed-dose combinations—Glempa-L (with linagliptin) and Glempa-M (with metformin). This strategic expansion strengthened Glenmark's diabetes portfolio and enhances its competitive position in India's growing anti-diabetes market.
   
• In December 2024, Lupin Limited announced the strategic acquisition of three prominent anti-diabetes trademarks—Gibtulio, Gibtulio Met, and Ajaduo—from Boehringer Ingelheim International GmbH. This acquisition is part of Lupin's ongoing efforts to strengthen its diabetes portfolio in India, a key therapeutic segment for the company.
   
• In June 2024, AstraZeneca received FDA approval for Farxiga (dapagliflozin) to enhance glycemic control in pediatric patients aged 10 years and older with type-2 diabetes (T2D). This approval expanded the company's market presence and positions Farxiga as a key treatment option for younger diabetic patients.
   
• In January 2023, TheracosBio announced the U.S. Food and Drug Administration (FDA) approval for Brenzavvy (bexagliflozin), an oral sodium-glucose cotransporter 2 (SGLT2) inhibitor. This helped the company to broaden its product range and generate revenue.
   

The SGLT2 inhibitors market research report includes in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2034 for the following segments:

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Market, By Drug Class

• Jardiance (Empagliflozin)
• Farxiga (Dapagliflozin)
• Invokana (Canagliflozin)
• Inpefa (Sotagliflozin)
• Qtern (Dapagliflozin/Saxagliptin)
• Other SGLT2 inhibitors

Market, By Indication

• Type 2 diabetes
• Cardiovascular diseases
• Chronic kidney disease (CKD)
• Other indications

Market, By Distribution Channel

• Hospital pharmacies
• Retail pharmacies
• Online pharmacies

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE