NEW YORK, NY – The use of potent weight-loss drugs in the United States is projected to have a significant economic impact, potentially boosting the gross domestic product by 1% in the coming years. This boost is expected as lower obesity-related health complications are likely to increase workplace efficiency, according to financial giant Goldman Sachs.
Analysts have predicted the market for weight-loss drugs could potentially reach $100 billion a year by the end of the decade, with pharmaceutical companies Novo Nordisk and Eli Lilly leading the race with their respective drugs Ozempic and Mounjaro.
The class of drugs, called GLP-1 agonists, is being keenly pursued by several companies, and more could enter the market, depending on clinical trials. Goldman Sachs estimates that the use of GLP-1s could increase by anywhere between 10 million to 70 million consumers by 2028.
The brokerage estimated that weight-loss drugs could bolster US gross domestic product (GDP) by 0.4% in a scenario with 30 million users, and this could rise to 1% with 60 million users.
In addition to the economic impact, weight-loss drugs are also being researched for their potential to help conditions ranging from alcohol addiction to dementia. Ozempic, a type 2 diabetes medication, and Wegovy, which is licensed for weight loss, contain the drug semaglutide, while a similar drug, liraglutide, is available for both purposes under different brand names. These medications have become popular due to their ability to help people lose more than 10% of their body weight.
The current wave of healthcare innovation, paired with GLP-1s, could potentially raise the level of US GDP by 1.3% in the coming years, equivalent to $360 billion per year in current exchange rates, with the potential for an increase ranging from 0.6% to 3.2%.
As the use of weight-loss drugs continues to grow, it is likely to have a significant impact on the US economy and healthcare landscape, providing potential opportunities for further research and development in the coming years.