Goldman Sees Obesity-Drug Market Growing to $130 Billion by 2030

Goldman Sachs Group Inc. sees growing potential for the global market for weight-loss drugs by the end of the decade.

The obesity market — currently dominated by Novo Nordisk A/S and Eli Lilly & Co. — is now set to reach $130 billion by 2030, according to Goldman Sachs analysts led by Chris Shibutani. That’s up from a prior forecast of $100 billion.

The boosted projection underscores the building momentum in the weight-loss market as more drug developers race to tap its potential, while established companies aim to expand their hold. Goldman cited recent developments including the approval of Lilly’s drug Zepbound, the label expansion of Novo’s blockbuster Wegovy and manufacturing investments by both drugmakers.

The update “reflects our assessment of the impact of certain events that have occurred since our last published estimate across several key domains that factor importantly in our forecasting assumptions,” the analysts wrote in a note Thursday.