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Ozempic and Wegovy – GLP1 Agonists Set to Become the Best-selling Drugs in 2024

The rise of GLP1 agonist drugs, including Ozempic and Wegovy, has reshaped the weight loss and diabetes treatment landscape in 2023. Fueled by promising clinical trial results and strong endorsements from celebrities and influencers, these drugs have surged into the mainstream. While PD1 antagonist drugs currently hold the top-selling position, this dominance is expected to be challenged.

GLP1 agonists target the glucagon-like peptide 1 receptor (GLP1R) found in the pancreas and brain neurons. They work by promoting insulin secretion, aiding in blood sugar level maintenance among type 2 diabetics, and facilitating weight loss by reducing appetite and delaying gastric emptying.

Kevin Marcaida, Pharma Analyst at GlobalData, notes that while PD1 antagonists currently dominate the market with $38.9 billion in sales, GLP1 antagonist sales in 2023 present a more diversified landscape, driven primarily by drugs like Ozempic, Trulicity, and Mounjaro.

GLP1 Agonist Market to Surge

Looking ahead, the GLP1 agonist market is projected to experience robust growth, with a 19.2% compound annual growth rate (CAGR) from 2023 to 2029, reaching a market size of $105 billion in 2029. In contrast, the PD1 antagonist market forecasts a slower growth rate, with a 4.7% CAGR and a market size of $51 billion in 2029.

Leading the charge in the GLP1 market are five key drugs: Mounjaro, Ozempic, Wegovy, Cagrisema, and Rybelsus, which are expected to capture 83% of the GLP-1 agonist market by 2029. Eli Lilly’s Mounjaro is predicted to lead in sales, generating $33.4 billion annually by 2029, with Novo Nordisk emerging as the leading company, projected to capture 55% of the market share in 2029.

Marcaida concludes that this transformative shift reflects changing demand away from oncology towards addressing metabolic disorders. As industry leaders such as Novo Nordisk and Eli Lilly drive this evolution, a reorientation in drug preferences is anticipated in the coming years.

Source-Medindia



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