Battle Intensifies in the Obesity Drug Market as Novo Nordisk and Eli Lilly Vie for Dominance

Novo Nordisk and Eli Lilly are leading the current obesity drug market with Wegovy and Zepbound, respectively1235.

A key head-to-head clinical trial in late 2024 showed Zepbound provided greater average weight loss (20.2%) than Wegovy (13.7%) after 72 weeks, boosting Zepbound's market prospects2.

The global GLP-1 receptor agonist market is projected to grow from $28.19 billion in 2025 to $63.54 billion by 2032, with overall obesity drug market estimates reaching $105–158 billion in the early 2030s34.

Over 80 new obesity drug molecules are in development, with anticipated launches of at least 16 new products in the next five years13.

Novo Nordisk recently secured a major win by making Wegovy the preferred anti-obesity drug on the CVS Caremark national formulary as of July 1, 2025, covering tens of millions of patients5.

Novo faces challenges from both Eli Lilly’s Zepbound and the increasing presence of 'compounders' making unauthorized versions of Wegovy, affecting its market share and share price5.

Direct-to-consumer marketing is becoming more prevalent, but Wegovy’s prescription growth through these channels has been slower than anticipated5.

Future trends in 2025 include changes in reimbursement, more real-world evidence about effectiveness, and redefining clinical diagnoses for obesity, alongside the looming impact of generic entrants as patents on leading drugs expire4.

Sources:

1. https://www.morningstar.com/business/insights/research/obesity-drug-market

2. https://www.psgconsults.com/blog/exploring-the-2025-obesity-drug-pipeline/

3. https://www.delveinsight.com/blog/obesity-drugs-launch

4. https://www.iqvia.com/locations/emea/blogs/2025/01/outlook-for-obesity-in-2025-more-than-a-transition-year

5. https://www.biopharmadive.com/news/novo-nordisk-wegovy-obesity-compounders-second-quarter-2025-earnings/756916/