India’s weight-loss market has almost tripled in size since January 2022, when Semaglutide, made by Danish drug maker Novo Nordisk, was launched in the market, highlighting a rising trend among Indians for weight-loss treatments. The weight-loss market today stands at Rs 474 crore against Rs 174 crore in January 2022, according to data compiled by research firm Pharmarack.
“Strong scientific studies with robust outcomes have helped the molecule gain a strong position in the anti-obesity market in India,” said Sheetal Sapale, VP Commercial at Pharmarack.
For example, the semaglutide tablets sold in India — Rybelsus (the product launched in January 2022) — reported a value growth of 142 percent and unit growth of 138 percent in January 2024, according to Pharamrack data.
This product is manufactured by Novo Nordisk and distributed by Abbott in India. It had Moving Annual Total (MAT) sales of Rs 314 crore, according to January 2024 data.
In 2012, a team of researchers at Novo Nordisk developed semaglutide for a once-weekly diabetes therapy as a longer-acting alternative to liraglutide. Currently, semaglutide is available in three forms: Wegovy, Ozempic, and Rybelsus. Novo Nordisk crossed the market value of over $500 billion, making it Europe’s most valuable company because of the bumper sales of these weight-loss drugs.
The sole semaglutide product available in India currently is the tablet version of the drug, which is still under patent protection. “The outcome seen in patients was so good that we also saw some copycats enter the market, though they could not flourish,” Sapale added. Currently, semgalutide has almost 66 percent of the market share in the anti-obesity segment.
Other peptides like liraglutide and dulaglutide occupy 6 and 15 percent market share, respectively. The rest, 13 percent, is accounted for by the molecule Orlistat, which is off-patent. Currently, various companies are selling generic versions of this molecule in India via 23 brands.
According to the US FDA, semaglutide falls within the category of drugs classified as glucagon-like peptide-1 (GLP-1) receptor agonists. It emulates the action of the GLP-1 hormone naturally released in the gastrointestinal tract following food consumption. A key function of GLP-1 involves stimulating the body to increase insulin production, thereby lowering blood glucose levels. Additionally, elevated levels of GLP-1 engage with specific regions of the brain and make people feel full.
Sapale said that the increasing obesity problem in India opens up a slew of opportunities for the Indian pharma sector. Almost 5 percent of the country’s 1.4 billion population is morbidly obese. That is, around seven crore people are eligible for anti-obesity drugs, she said.
This opens up a market to tackle concerns like diabetes, cardiac issues, kidney diseases, arthritis, asthma, and anxiety, which are the various complications and lifestyle diseases that could occur as a result of obesity. The market is poised for sustained growth, driven by factors such as the high prevalence of childhood obesity (11 percent) in India, indicating a prolonged need for anti-obesity drugs. She also noted that there could be a wave of products when the molecules go off-patent.
Also read: Explained: What's Novartis' new anti-cholesterol jab all about
Race for weight-loss products in India
According to available data, many Indian companies are in the race to enter the GLP-1 market. Lupin sells a dulaglutide product named Aplevant in India under a strategic collaboration with Eli Lilly.
Earlier in June 2023, Sun Pharma announced results from two phase 1 studies evaluating the tolerability, safety, pharmacokinetics, and pharmacodynamics of GL0034, a novel long-acting GLP-1 receptor agonist, in non-obese and obese adults without diabetes.
In October 2023, Dr Reddy’s Labs received permission from the Central Drug Authority (CDA) to carry out a bioequivalence study of semaglutide injection in India.
Biocon and Alembic Pharma had also said that the companies are evaluating opportunities as they have peptide manufacturing capacity. Cipla had mentioned that, even though it might not be in the first wave of launches, it would like to enter the semaglutide market.
Also read: Novo Nordisk's parent invests in India's Manipal hospital chain
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