GlobalData forecasts Novo Nordisk’s blockbuster Ozempic sales to surge by 23% to US$12.5B in 2023, consolidating its position as dominant market leader; closest competitor Trulicity by Eli Lilly anticipates sales of US$8B

Sample article from our Health Care Sector

May 17, 2023 (press release) –

Novo Nordisk’s leading drug Ozempic (semaglutide) is forecast to demonstrate a growth of 23% in its sales to $12.5 billion in 2023, consolidating its position as the dominant market leader, as projected sales will be 54% greater than closest competitor Trulicity (dulaglutide) by Eli Lilly, which anticipates sales of $8 billion, says GlobalData, a leading data and analytics company.

Ozempic is a recombinant peptide indicated to lower the risk of major cardiovascular events, such as strokes, heart attacks, or mortality, among adults with type 2 diabetes and established heart disease. Originally granted approval in its largest market, the US, in 2017, Ozempic has subsequently obtained approval for three distinct dosages, 0.5mg, 1.0mg, and 2.0mg, for the treatment of type 2 diabetes.

Ikram Triki, Drugs Intelligence Analyst at GlobalData, comments: “In 2022, US sales of Ozempic contributed to 65% of global sales; this is expected to continue, with the US market forecast to continue capturing the majority of sales, generating $71 billion between 2023 and 29. It is forecast that Ozempic will sustain its sales growth over the next five years, with an expected annual sales figure of $17 billion in 2029. This represents a significant 83% increase in sales during 2022–29, demonstrating a compound annual growth rate (CAGR) of 9%.”

Triki continues: “Novo Nordisk and Sanofi’s announcement in March 2023 to join Eli Lilly in major price reductions for pre-filled insulin pens and vials may suggest a potential shift in the dynamic insulin market. Ozempic’s significance in the evolving pharmaceutical landscape is evident through its increasing popularity as a next-generation medication for diabetes, with notable attention towards its off-label application as a weight-loss agent.”

The substantial weight loss that patients achieve with Ozempic and other GLP1-targeting drugs makes insulin requirements lower for patients with type 2 diabetes, incentivizing both patients and healthcare practitioners to consider this medication. This change in insulin access within the US market will therefore play a crucial role in Ozempic’s commercial success and may contribute to the observed revenue growth.

Triki concludes: “The significant sales growth of Ozempic reinforces its continued dominance in the type 2 diabetes market. As attitudes towards insulin access evolve, Ozempic is well-positioned to provide support to a greater number of patients suffering from type 2 diabetes, facilitating improvements in their quality of life.”

Media Enquiries

If you are a member of the press or media and require any further information, please get in touch, as we're very happy to help.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

See our dashboard in action - schedule an demo
Dan Rivard
Dan Rivard
- VP Market Development -

We offer built-to-order health care sector coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.