Strategic Intelligence: The Evolution of GLP-1RAs: From Breakthrough to Growth

GLP 1RA therapies have shifted from treating T2D to becoming a multi indication therapy. GLP 1RAs were originally developed for type 2 diabetes (Byetta in 2005), and since 2014 they have expanded beyond T2D, starting with obesity (Saxenda) and then additional indications.

GLP 1RA sales increased significantly from 2022 onwards, driven by newer therapies targeting obesity. This growth was driven by the entry and rapid uptake of Mounjaro and Wegovy (Mounjaro: ~$0.5B in 2022 to ~$23B in 2025; Wegovy: ~$0.9B to ~$11B in 2025).

The GLP 1RA market is already large and forecast to grow substantially. The market was valued at ~$53.7B in 2024 and is forecast to reach over ~$182B by 2031.

Investment into GLP 1RAs continues to accelerate, with significant deals occurring yearly and manufacturing expansion to meet demand. Big pharma dealmaking (M&A and licensing) is increasing year on year, and companies are expanding manufacturing capacity through acquisitions and out licensing/partnership agreements.

The next phase of GLP 1RA competition will be about more than weight loss efficacy. Differentiation is moving beyond efficacy toward platform scalability, payer relevance, lifecycle expansion into new indications (e.g., CVD, MASH, Alzheimer's/Parkinson's), and execution capability, while late stage innovation remains scarce and the evidence bar continues to rise.

Scope

• This report talks about how GLP-1 therapies have shifted from treating type 2 diabetes (T2D) to becoming a multi-indication therapy. Saxenda (liraglutide) was the first GLP-1 therapy approved for the treatment of obesity, and this was later followed by the approval of several more drugs for different indications.