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GLP-1 & Obesity Treatments

The GLP-1 obesity treatment market opened by semaglutide (Ozempic/Wegovy) and tirzepatide (Mounjaro/Zepbound) is rapidly growing toward a $100B+ TAM by 2030. Innovation continues with oral GLP-1 and next-gen triple agonists, with Korean pharma pipelines (Hanmi Pharma) also drawing attention.

Updated: 2/25/202612-24 months

Investment Confidence

Confidence Index92%
LowMediumHigh

Theme Analysis

Key Drivers

  • GLP-1 obesity treatment TAM projected at $100B+
  • Oral GLP-1 (orforglipron, etc.) development accelerating
  • Indication expansion (NASH, cardiovascular, sleep apnea)
  • Korean pipeline including Hanmi Pharma efpeglenatide

Risk Factors

  • Persistent supply shortages limiting prescriptions
  • Intensifying competition (Amgen, Pfizer, Viking, etc. entering)
  • Potential long-term safety issues
  • Drug pricing regulatory pressure

Catalysts

  • Oral GLP-1 FDA approval
  • Obesity treatment insurance coverage expansion
  • Indication expansion clinical results announcement

Related Investment Ideas

1
128940.KSMedium

Hanmi Pharmaceutical — GLP-1 Efpeglenatide, Hope for K-Bio New Drugs

Proprietary GLP-1 receptor agonist efpeglenatide demonstrates differentiated efficacy and once-weekly dosing convenience in diabetes/obesity trials. Global expansion materializing through technology licensing agreements in China, Europe. Multiple bio new drug pipeline based on LAPS (Long-Acting Protein/Peptide Discovery) platform.

Related Reports

1
Theme Deep-Dive
7/5/202615 min read

The K-Bio Map — Out-Licensing, CDMO, Obesity Drugs: Three Investable Axes

2025 out-licensing topped KRW 20 trillion for the first time. The index fell double digits in the first half, but capacity, platform, and the patent cliff stand as three distinct cash-flow structures.

Comments

Created: 2/25/2026Updated: 2/25/2026
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Quick Stats
Confidence92%
Investment Period12-24 months
Investment Ideas1
Related Reports1
Report Shortcuts
Theme Deep-Dive
The K-Bio Map — Out-Licensing, CDMO, Obesity Drugs: Three Investable Axes
15 min read
Parent Theme
Mega Theme
K-Bio & Drug Development
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