GLP-1 Analogues Market Top Companies

• Novo Nordisk
• Eli Lilly and Company
• Sanofi
• AstraZeneca
• Boehringer Ingelheim
• Pfizer
• Amgen
• Roche
• Zealand Pharma
• Structure Therapeutics
• Viking Therapeutics
• Hangzhou Sciwind Biosciences
• Fudan University
• Eccogene
• Medtronic
• Merck & Co.
• AbbVie
• Bayer AG
• Teva Pharmaceutical Industries Ltd.
• Boehringer Ingelheim

GLP-1 Analogues Market Concentration and Ecosystem Analysis

Market Concentration: A Duopoly at the Core

The GLP-1 analogues market is highly concentrated, with the majority of global revenues controlled by two dominant players—Novo Nordisk and Eli Lilly and Company.

Novo Nordisk is a pioneer in the space, with blockbuster drugs such as Ozempic and Wegovy that have become household names for diabetes and obesity management. Its strength lies in brand leadership, global distribution networks, and continuous pipeline innovation, including high-dose oral semaglutide.

Eli Lilly has emerged as an equally strong force, fueled by the rapid success of Mounjaro (tirzepatide) for diabetes and Zepbound for obesity. Lilly’s aggressive expansion in long-acting injectables, oral GLP-1s such as orforglipron, and combination therapies has allowed it to capture nearly 60% of the U.S. obesity drug market.

Together, Novo and Lilly account for more than 75% of worldwide GLP-1 revenues, making the sector a classic duopoly with high barriers to entry.

Medium-Tier Players: Building Competitive Pipelines

Beyond the duopoly, several global pharmaceutical companies occupy a medium concentration tier. Their current revenues from GLP-1s are limited, but their pipeline bets and partnerships could shift market dynamics by 2027 and beyond.

• Amgen is advancing MariTide (AMG 133), which has shown up to 20% weight loss in Phase 2 trials.

• Roche strengthened its presence with the Carmot Therapeutics acquisition, inheriting a portfolio of GLP-1 and dual agonist candidates.

• Boehringer Ingelheim and Zealand Pharma are co-developing survodutide (BI 456906), a GLP-1/glucagon dual agonist that has demonstrated promising Phase 2 results.

• AstraZeneca and Eccogene are working on ECC5004, an oral GLP-1 candidate aimed at tapping into the convenience-driven segment.

• Sanofi had earlier retreated from the market but could re-enter through acquisitions or collaborations.

• Pfizer, after halting its oral GLP-1 candidate danuglipron due to safety concerns, has effectively stepped back from the space.

These companies hold only single-digit market shares today, but their clinical progress could increase competitive intensity over the next decade.

Low-Tier Innovators: Biotech and Academic Entrants

At the bottom layer of the market structure are biotech firms and academic institutions. They may not yet command commercial share, but their innovation pipelines are shaping the long-term ecosystem.

• Viking Therapeutics is developing VK2735, which has shown meaningful mid-stage weight loss results, positioning it as a potential competitor by 2027+.

• Structure Therapeutics introduced GSBR-1290 as an oral GLP-1, though safety concerns have slowed its momentum.

• Hangzhou Sciwind Biosciences, Fudan University, and Eccogene represent the growing wave of Chinese innovation, focusing largely on oral GLP-1s and low-cost alternatives for Asia.

• Zealand Pharma continues to play both innovator and collaborator roles, bridging partnerships with larger pharma companies.

Though their market share is negligible today, these innovators represent the future disruption layer of the ecosystem.

Peripheral Players: Watching and Supporting the Market

Some global pharma giants and medical device firms are not directly competing in GLP-1 development but are strategically positioned around the ecosystem. Merck & Co., AbbVie, Bayer AG, and Teva are monitoring opportunities through licensing, collaborations, or dual/triple agonist research.

Meanwhile, Medtronic and other device makers are indirectly benefiting as GLP-1 adoption reduces the burden on traditional diabetes devices like insulin pumps. This interplay highlights how GLP-1 growth impacts adjacent industries, not just pharmaceuticals.

Ecosystem Dynamics

The GLP-1 analogues ecosystem is shaped by multiple interlinked dynamics:

1. Pipeline Race for Oral Therapies – Oral GLP-1 formulations are emerging as the next frontier, as patients increasingly prefer needle-free options. Novo, Lilly, Roche, Amgen, and Viking are leading this race.

2. Combination Therapies – Dual and triple agonists (GLP-1/GIP, GLP-1/GCG, GLP-1/GIP/GCG) are being developed to deliver superior outcomes in weight reduction and metabolic health.

3. Manufacturing and Supply Scaling – Capacity is a critical challenge. Lilly is investing $27 billion in U.S. manufacturing expansions, while Novo is scaling globally to meet surging demand.

4. Access and Affordability – Despite success, GLP-1s remain costly, raising concerns over equitable access. Insurers are expanding coverage, but affordability will remain a defining issue.

5. Digital Health and Distribution – Telehealth, e-pharmacies, and subscription models are transforming access, particularly in the U.S., India, and China, creating new channels for patient engagement.

Market Structure Outlook

By 2030, the GLP-1 market will remain highly concentrated, but new entrants are likely to reduce duopoly dominance slightly. Amgen, Roche, and Viking could capture share once their candidates reach commercialization, while Chinese innovators may play a significant role in cost-sensitive markets.

The Herfindahl–Hirschman Index (HHI) confirms a high-concentration structure today, reflecting Novo and Lilly’s control. Barriers to entry remain steep, given the enormous R&D investments, lengthy clinical trial requirements, and manufacturing complexities involved.

In the near term, concentration will remain tight. Over the long term, the ecosystem will broaden, with greater involvement from second-tier pharma, biotechs, digital health platforms, and adjacent device manufacturers.