The Internet of Bio-Nano Things (IoBNT) is collaborative cell biology and nanodevice technology interacting through Molecular Communication (MC). The IoBNT can be accomplished by using the Information and Communication Theory (ICT) study of biological networks. Various technologies such as the Internet of Nano Things (IoNT), the Internet of Bio-degradable Things (IoBDT), and the Internet of Ingestible Things (IoIT) contribute to the development of IoBNT. Our survey discussed the Bio-Nano network and the role of IoT-based technologies along with a comparative study from various literature. We surveyed the various applications of IoNT in which the drug delivery for Insulin-Glucose system is prominent. Our survey aims to provide information about the Insulin-Glucose system involving the IoBNT and MC. We described the details of various factors for a diabetes analysis. We surveyed the diffusion coefficients of Insulin, Glucose, and the various parameters that influence insulin production in the body. Our survey identifies the security aspects of IoBNT such as attacks in nanonetworks, bio-cyber interface, Insulin-Glucose system, and their possible mitigation techniques. Our survey also provides a hierarchical model of the Bio-Nano network collaborating all the related technologies. Finally, our survey includes the research challenges involved in the proper handling of the IoBNT.