By Claire Moraa
- Weight loss drugs like Wegovy have gone down 23% for uninsured patients
- The global obesity drug market is projected to reach $105B by 2030
If you no longer wish to hit the gym, weight loss drugs are now more accessible and affordable. But there’s a catch. You’ll have to cover the cost out of pocket. The price for Wegovy has gone down 23% for uninsured patients. And with 1 in 8 people living with obesity, this comes as a much welcome way out for people who want to avoid lifestyle diseases and shed off a couple of pounds faster.
Why This Matters: The global obesity drug market is a lucrative one as it is projected to reach $105 billion by 2030. This means that demand worldwide is booming and manufacturers of these drugs will need to scale up their production. The greater the demand, the lower the economies of scale and this is translated into the final retail price which becomes affordable even for low income countries. Insurers have also loosened some of their strings and are now covering a wider base. With this expansion, both out-of-pocket and self-pay clients can access these drugs.
While the consequences of dropping the prices for these weight loss drugs are clear; increased access, lower risk for lifestyle diseases and expanded insurance coverage, we cannot ignore the negative side. Over demand can cause an over-saturation in the market therefore lowering the quality of these drugs. And in countries where the health laws aren’t as strict, counterfeit versions are likely to be in wide circulation. With ease of access, misuse is highly likely.
Situational Awareness: This is no longer a niche health product. Weight-loss drugs are becoming a mainstream tool in modern healthcare, with ripple effects across medicine, economics, and culture. It is up to the stakeholders to nip at the bud any potential misuse, or overdependence before it undermines the very progress these drugs promise. Countries also need to have stringent rules on what comes in before generics flood the market opening the door to dangerous or irreversible side effects.
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