Novo Nordisk A/S

Most large employers plan to cover GLP-1 drugs for obesity in 2025, despite cost concerns. Employers anticipate increased spending on GLP-1 drugs, with 40% planning to cover them for cardiovascular conditions in 2025. Employers use prior authorization and weight management programs to manage costs.

The global biotechnology market, valued at USD 1.54 Trillion in 2023, is projected to reach USD 5.68 Trillion by 2033, growing at a CAGR of 13.95%. Growth is driven by government support, personalized medicine, COVID-19 vaccine development, agricultural biotech applications, and advancements in gene editing and synthetic biology. North America leads the market, while Asia Pacific is expected to grow the fastest.

The global biotechnology market, valued at USD 1,224.31 billion in 2022, is rapidly growing due to demand for innovative treatments, R&D investments, and technological advances. Biopharmaceuticals, leading with a 41.46% revenue share, offer targeted treatments with fewer side effects. North America dominates the market, while Asia Pacific is the fastest-growing region. Technological innovations like CRISPR/Cas9 and AI are driving market expansion, despite a talent shortage in the industry.