Ten-billion dollar market-Semaglutide

Semaglutide is an antidiabetic medication used for the treatment of type 2 diabetes and an anti-obesity medication used for long-term weight management.It is a peptide similar to the hormone glucagon-like peptide-1 (GLP-1), modified with a side chain.

It was approved for medical use in the US in 2017.In 2021, it was the 90th most commonly prescribed medication in the United States, with more than 8 million prescriptions.

As it binds to the GLP-1 receptor in the human body, Semaglutide stimulates insulin secretion and lowers blood sugar levels more effectively than traditional diabetes medications. It also has weight control benefits and cardiovascular protection properties. Semaglutide requires a weekly injection, which can be administered via a pen-type or automatic injector.

's financial report for 2023 released on January 31st, the company's total sales reached DKK 232.261 billion (approximately USD 34.430 billion at an average exchange rate of 1 DKK=0.14824 USD in 2022), a year-on-year growth of 36%. Operating profit reached DKK 102.574 billion (USD 15.206 billion), a year-on-year growth of 44%, and net profit reached DKK 83.683 billion (USD 12.405 billion), a year-on-year growth of 51%. Novo Nordisk's performance in 2023 was outstanding.

The combined sales of these two segments grew by 42% in 2023, reaching DKK 215.098 billion (approximately USD 31.886 billion). The sales of GLP-1 DKK=0.14824 USD in 2022), a year-on-year growth of 36%. Operating profit reached DKK 102.574 billion (USD 15.206 billion), a year-on-year growth of 44%, and net profit reached DKK 83.683 billion (USD 12.405 billion), a year-on-year growth of 51%. Novo Nordisk's performance in 2023 was outstanding.

The diabetes segment has always been Novo Nordisk's strong area and the core pillar of its revenue. This segment includes GLP-1, insulin, and other diabetes care drugs. The sales growth of this segment is mainly due to the growth of GLP-1 sales. The sales of Ozempic and Rybelsus increased by 66% and 71% respectively, while the total sales of insulin decreased by 6%.

The sales of Wegovy reached DKK 31.343 billion (approximately USD 4.646 billion), a year-on-year growth of 402%.

's CEO Lars Fruergaard Jørgensen informed their focus will be on reaching more diabetes and obesity patients, advancing and expanding our pipeline, and continuing to significantly expand production capacity in 2024 .

With the above-mentioned types of drugs, Statistics show that the global GLP-1RA market in 2021 is about $16 billion, with Novo Nordisk accounting for approximately 52% and Eli Lilly accounting for 39%, together holding 90% of the market share.

According to Morgan Stanley, the market size of obesity drugs is expected to exceed $54 billion by 2030, and has the potential to surpass PD-1 as the largest drug in the global market.Despite the lack of official approval for drugs, many Chinese companies are participating in research and development and imitation, indicating an imminent intense competition within the vast market.

By 2030, the anti-obesity medicines market could grow to $30billion

In terms of the new generation of drugs, not only Novo Nordisk and Eli Lilly are developing the next generation of GLP-1 products, but also companies such as J&J, Pfizer, and Carmot Therapeutics are also laying out in the third generation of GLP-1 weight-loss drugs.