Weight loss drugs are big business, with the GLP-1 receptor agonist market expected to nearly triple in size to $185 billion by 2033, a compound annual growth rate of about 12.4%. Although increasingly a global medical phenomenon, the bulk of the market still exists in the United States, and domestic investors can get in on the action by targeting companies that manufacture these powerful drugs.
It's a mistake to assume that all sales of GLP-1 drugs will be limited to the major products Ozempic or Wegovy, both manufactured by pharma giant Novo Nordisk A/S (NYSE: NVO). The demand in this relatively new space is so great that a growing number of alternatives are quickly emerging, despite the seeming dominance of a few major players. Below, we'll look at a standalone, lesser-known biotech developer with a promising alternative in the works, as well as two exchange-traded funds (ETFs) that can give broad and diversified exposure to the whole industry at once.
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