Advances in GLP-1 therapies are creating a new phase of opportunity across the healthcare sector, according to Janus Henderson Investors, as oral medicines, broader disease applications and a rapidly expanding patient population reshape one of the industry’s fastest-growing markets. The asset manager believes these developments are creating long-term opportunities not only for pharmaceutical companies, but also for a wider healthcare ecosystem and investors.
GLP-1 therapies, which mimic a natural gut hormone to regulate blood sugar and curb appetite, have transformed the treatment of obesity and Type 2 diabetes. A new wave of innovation, including oral medicines, expanding clinical applications and a strong development pipeline, is expected to broaden patient access and accelerate adoption in the years ahead.
For the GCC, these advances align closely with regional priorities around preventative care and long-term disease management. As governments across the region continue to invest in healthcare innovation, GLP-1 therapies are expected to play an increasingly important role in improving patient outcomes.
Luyi Guo, PhD, CFA, a research analyst on the Health Care Sector Research Team at Janus Henderson Investors, believes the current generation of injectable medicines represents only the beginning of a much larger healthcare trend: ‘GLP-1 medications have already reshaped how we approach obesity and Type 2 diabetes, but we’re only at the start of the innovation curve. The next generation of therapies could drive even greater adoption,’ Guo says.
One of the biggest developments this year has been the arrival of the first oral GLP-1 therapies, which have opened treatment to a broader group of patients who may not have previously considered injectable options. Early prescribing data suggests uptake is largely incremental, with around 80% of patients starting oral GLP-1 therapy having no prior history of injectable use.
Beyond metabolic health, GLP-1s are also showing significant potential in addressing cardiovascular disease, kidney disease, fatty liver disease, and obstructive sleep apnoea. The cardiovascular evidence has been especially compelling, with data suggesting the benefits of these medicines extend into the territory of long-term disease prevention. The SELECT trial, presented at the American Heart Association, found that semaglutide – an active ingredient that belongs to the GLP-1 class of drugs – reduced major adverse cardiovascular events by 20% and all-cause mortality by 19% in non-diabetic patients living with obesity. This has shifted how clinicians and researchers think about these medicines. The findings have strengthened expectations that GLP-1 therapies could play a much broader role in long-term disease prevention.
‘The biggest underestimation is the impact the GLP-1 class can have across multiple organs throughout the body,’ says Guo. ‘The list of potential applications continues to grow.’
Researchers are also keen to explore the potential for GLP-1s to treat substance abuse, owing to their ability to reduce cravings for alcohol, nicotine, and opioids.
Pharmaceutical companies are racing to develop the next generation of therapies, with three new approvals expected within the next year, including two dual agonists and one triple agonist, each designed to improve weight-loss outcomes and deliver additional liver-related benefits.
Innovation is also advancing beyond GLP-1s themselves, with the amylin class, already in late-stage trials, offering a potential alternative for patients who do not tolerate GLP-1s, or to be used alongside existing therapies. Longer-duration formulations and the flexibility to move between oral and injectable formats are expected to further improve adherence and broaden access over time.
Underlying all of this is a global opportunity that remains significantly underappreciated. The World Health Organization estimates that approximately 800 million people worldwide would benefit from this class of medicines, yet current treatment numbers remain in the tens of millions. As awareness spreads and new formulations lower barriers to treatment, the growth opportunity appears substantial.
Combined global GLP-1 sales surpassed $77 billion in 2025, and progress continues to accelerate across markets. For investors, the opportunity extends beyond the two dominant manufacturers to include contract manufacturers, biotech innovators, medical technology firms, and digital health platforms that support long-term patient care.
According to Janus Henderson, the breadth of innovation across therapies, technologies and healthcare services means the investment opportunity extends beyond the manufacturers of GLP-1 medicines themselves. While careful consideration of company exposures, development timelines and regulatory dynamics remains essential, the combination of rapid clinical progress, a strong development pipeline and growing global demand suggests the sector is well positioned for long-term growth.