Ozempic, like many other weight management drugs on the market, has been adopted globally as the go-to drug for extreme weight loss, ranging from celebrities to sports persons. Due to the public awareness it has gotten through social media and celebrities, this drug has been brought into the limelight by the same.
Novo Nordisk, a pharmaceutical company with a staggering 55% market share as of 2024, developed Ozempic and its equivalent, Wegovy, in Denmark. Ozempic was first sold as an anti-diabetic drug, although weight loss was a notable adverse effect of the drug in clinical studies. Because of this discovery, doctors began prescribing it off-label to help patients lose weight, especially when Wegovy was in limited supply.
Ozempic users have increased dramatically in Denmark, where Novo Nordisk is based. There were just 5,744 initiators in 2018, but by 2021 and 2022, that number had risen to 19,620 and 31,340, respectively. However, in 2023, the number fell to 24,677 as a result of a worldwide shortage and growing costs, which forced many users to look for other diabetic therapies.
The nation's economy has benefited greatly from Novo Nordisk. 66% of the company's $13.9 billion in sales in 2023 came from the United States. This sales record has also generated employment in Denmark, with 1 out of 5 individuals being Nova Nordisk employees. This job market is relevant to 20% of the Danish people, who rely on Novo Nordisk for both their livelihood and health.
Additionally, in Denmark, 51.7% of people with diabetes who use Ozempic are men. Ozempic adoption has been more variable but more widespread in the United States. Only 7% of Americans now take Ozempic, 52% are not aware of the medication, and 25% are not interested in using it to lose weight. Nevertheless, with 9 million prescriptions written between October and December 2022, the United States significantly outnumbers Denmark in terms of prescription volume. Between January 2021 and December 2023, consumption in California, which is home to many influencers and celebrities, increased by an astounding 400%.
Approximately 43% of the population in the United States is classified as obese, contributing to the ongoing obesity pandemic. Numerous health hazards, such as diabetes and cardiovascular illnesses, are present in this population. As a targeted therapeutic option, Ozempic received FDA approval in December 2017. Due to its dual effectiveness in treating diabetes and supporting weight loss, 58% of medical professionals favour Ozempic, which includes the active component semaglutide. As a result, around 1 in 8 individuals depend on Ozempic.
Furthermore, Ozempic has drawbacks even if it offers several advantages. Within six months, patients usually lose 10% of their body weight, but long-term use is necessary for long-lasting effects. Because Ozempic is expensive, just one out of four patients maintained using medication after two years, according to a survey. Moreover, in Denmark, 0.25 mg of Ozempic costs $125, but in the United States, it costs $1,349. Given that it costs $144 and $230 in Canada and Mexico, respectively, many American patients believe this price difference is unjust.
Since Ozempic is in short supply and is being used off-label for cosmetic weight loss, real diabetes patients are having difficulty. In actuality, 33% of Ozempic users in the US are just aesthetic and do not have diabetes. Patients with diabetes who miss even one dosage run the serious danger of developing high blood pressure and eyesight loss. Competitors like Eli Lilly, whose medication containing tirzepatide has comparable efficacy, are now challenging Ozempic's dominance. To preserve and grow their market share, Ozempic and other anti-diabetic medications must engage in price negotiations and effective promotion.
Since its launch, Ozempic has revolutionized the pharmaceutical industry by providing persons with diabetes and obesity with life-altering advantages. However, the ongoing success of this revolutionary medication will depend on how well supply, competition, and cost are addressed.