Eli Lilly and Novo Nordisk lead the competitive GLP-1 weight loss market

The global GLP-1 weight loss drug market, projected to reach $100 billion by the end of the decade, continues to be dominated by Eli Lilly and Novo Nordisk, though competition is intensifying.

Eli Lilly is expanding its leadership through products like tirzepatide and the oral pill Foundayo. The company holds approximately 61% of the U.S. market and is seeing significant uptake through Medicare, which has seen 700,000 seniors begin GLP-1 treatments since coverage began in July. Analysts are also closely watching Lilly’s pipeline candidate, retatrutide, which mimics three gut hormones and has shown significant weight loss in Phase 3 trials.

Novo Nordisk is attempting to diversify its portfolio beyond its core Wegovy and Ozempic products to sustain growth, as these drugs face patent expirations in the early 2030s. However, recent growth projections have met with skepticism from Wall Street. Meanwhile, Viking Therapeutics has seen its stock surge following strong data from its VK2735 candidate, positioning itself as a potential new player in the injectable and oral weight loss sectors.