Novo Nordisk A/S (NYSE:NVO) and Eli Lilly And Co (NYSE:LLY) have dominated the obesity drug market with their leading therapies, Wegovy and Zepbound, but the next generation of treatments could shift this dynamic.
These new drugs, expected to hit the market by 2029, aim to surpass current efficacy levels while offering more convenient dosing options, such as oral and monthly injections. This shift, driven by innovation and competition, could change the market landscape despite Novo and Lilly’s current hold on the sector.
According to a report by Morningstar, the global GLP-1 market is poised to reach $200 billion by 2031, with obesity treatment expected to account for 68% of sales.
While Novo Nordisk and Eli Lilly are projected to retain two-thirds of this market, driven by first-mover advantage and robust pipelines, new competitors could claim significant market share.
Public and private biopharma firms are increasingly focusing on cardiometabolic drug development, with 16 new obesity drugs potentially launching by 2029 the report added.
This pipeline includes candidates from major players such as
