The global obesity treatment market is expected to reach over $77 billion by 2030, driven by rising obesity rates and the need for effective weight loss solutions. With World Health Organization (WHO) estimates indicating that 750 million adults worldwide are living with obesity, pharmaceutical companies have been developing innovative new drugs to tap into this lucrative market.
Against this backdrop, Danish drugmaker Novo Nordisk (NVO) has made major inroads with its injectable obesity drug, Wegovy, and its diabetes treatment, Ozempic - used off-label for weight loss. The blockbuster drugs have fueled massive revenue growth at NVO, propelling it to become Europe's most valuable stock by market cap in 2024.
