16 new drugs are expected to enter the market for weight loss treatments.
In a report published on Monday, analysts estimated that the obesity treatment market could grow to more than 180 billion euros by 2031. These 16 drugs could enter the market by 2029, and about $70 billion of the GLP-1 market will come from these new challengers.
The growing demand for Novo’s Wegovy and Lilly’s Zepbound products has sparked interest from competitors to test their own weight loss treatments.
This development is the result of criticism from lawmakers about the high cost of these drugs. However, new entrants are expected to lower prices as they compete for market share, according to the report.
Potential new treatments include products from Boehringer Ingelheim and Zealand Pharma, as well as Roche’s rivals, Amgen and Pfizer. Provided the drugs survive clinical trials, according to the report.
Other participants include next-generation drugs from Structure Therapeutics, Viking Therapeutics and Altimmune, as well as Novo and Lilly.
Analysts had last year projected the obesity market to be worth $170 billion by 2031, but have recently raised their estimates in part due to the increased market share of the diabetes market.
According to the report, 41% of diabetics and almost a quarter of non-diabetic obese patients will use a GLP-1 drug by 2031.
Analysts expect major obesity drug companies to make significant acquisitions over the next 18 months, targeting smaller companies specializing in obesity drug development.
Source: Reuters
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