What is GLP-1?
GLP-1s, also known as glucagon-like peptide 1, have been on the market for almost 20 years – the medication has shown efficacy in stabilising HbA1c (blood glucose levels) and has also exhibited weight loss results. Over the last 24 months, the growth we have seen from GLP-1s has been the focal topic for the global pharmaceutical sector and subsequent read-across has had significant traction across the wider capital markets. GLP-1 growth has predominantly been driven by the latest products from key industry players in the pharmaceutical sector. UBS estimates global GLP-1 model forecasts 40m people on GLP-1s by 2029, with 44% in the US. This translates into $126bn sales by 2029, a 2023-2029 sales CAGR of 30%.

In this article, we analyze the findings from wave #1 of the UBS Evidence Lab survey on 500 past and present GLP-1 users in the US – capturing important trends and changes in consumer behaviour driven by the rapid uptake and use of GLP-1s. The surveyed population was evenly split between diabetics and non-diabetics.

Eight Key Takeaways for the Global Pharmaceutical sector: 

  1. Results show higher awareness and use of Ozempic, with Ozempic also the most used GLP-1 for non-diabetics. Awareness of Ozempic was >2x that of Mounjaro and awareness of Wegovy was >2x that of Zepbound
  2. Top reasons to switch weight loss treatment were to seek greater weight loss (63%) and fewer side effects (50%).
  3.  Getting access to a GLP-1 prescription in the US is relatively easy for both diabetics and non-diabetics.
  4. The vast majority of GLP-1 users (79%) are using the medication for >1 year.
  5. Payer coverage is high with <10% of out-of-pocket pay across all users.
  6.  GLP-1 user satisfaction is high (58% "very satisfied" & 38% "fairly satisfied").
  7.  Only 3% of users taking GLP-1 for weight loss were likely to stop taking GLP-1 altogether once they reached target weight, with most opting to reduce dosing and frequency of dosing.
  8. For patients that stopped taking GLP-1, the reasons to stop were mixed but the most common reason was cost.

Overall, we see the survey results as supportive of the continued strong GLP-1 trends in the US.

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