Wegovy's Oral Formulation: A Catalyst for WeightWatchers' Growth in the Booming Weight-Loss Drug Market

The global weight-loss drug market is undergoing a seismic shift, driven by the rapid adoption of GLP-1 agonists like Wegovy, Ozempic, and Mounjaro. With global spending on these drugs reaching $54 billion in 2024 and projections of a $100 billion to $150 billion market by 2030, the sector has become a focal point for investors. At the heart of this transformation is Novo Nordisk's Wegovy, a semaglutide-based therapy that has redefined obesity treatment. Now, the development of an oral formulation of Wegovy could further disrupt the market-and for WeightWatchers (WW), it represents a strategic inflection point.

The Oral Revolution: Wegovy's Next-Generation Formulation

Novo Nordisk submitted an FDA application for the once-daily oral Wegovy in April 2025, with a decision expected by year-end. Clinical trials have shown the pill formulation to deliver weight loss and cardiometabolic benefits comparable to the injectable version. This innovation addresses a critical barrier to adoption: patient preference for non-invasive treatments. The oral segment, currently a niche, is projected to grow at a significant CAGR as demand for convenience rises.

Eli Lilly, Novo Nordisk's key rival, is also advancing its oral GLP-1 drug, orforglipron, with an obesity application expected by late 2025. However, Novo Nordisk's first-mover advantage in securing FDA approval could solidify its dominance in the oral GLP-1 space.

Strategic Synergy: Wegovy and WeightWatchers' Partnership

WeightWatchers' collaboration with Novo Nordisk, expanded in July 2025, positions the company to capitalize on this shift. The partnership allows WW to integrate Wegovy (both injectable and, if approved, oral) into its WeightWatchers Clinic, offering a hybrid model of medication and lifestyle support. This alignment is not accidental: the oral formulation's convenience aligns with WW's digital-first approach, which emphasizes accessibility and user retention.

According to a report by Reuters, WeightWatchers CEO anticipates that the pill form will boost patient adherence and satisfaction, critical metrics for a subscription-based model. The company also benefits from recent price reductions for Wegovy under new Medicare and Medicaid deals, making the therapy more affordable for a broader demographic.

Market Expansion and Revenue Projections

The Wegovy market is forecasted to grow from $3.07 billion in 2025 to $24.53 billion by 2034 at a 25.96% CAGR. For WeightWatchers, the oral formulation's 2026 U.S. launch could be a revenue multiplier. Analysts note that the pill's ease of use may attract users who previously avoided injectables, expanding WW's customer base beyond its existing 1.5 million members.

While specific revenue figures for 2026–2034 remain undisclosed, the company's strategic moves-including forays into women's health and telehealth partnerships-suggest a long-term growth trajectory. The integration of Wegovy into WW's ecosystem also creates a flywheel effect: increased medication sales drive platform engagement, which in turn enhances customer retention and upsell opportunities.

Conclusion: A Win-Win for Patients and Investors

The approval of Wegovy's oral formulation is more than a product update-it's a paradigm shift in obesity care. For WeightWatchers, it represents a unique opportunity to leverage pharmaceutical innovation to strengthen its market position. As the weight-loss drug sector accelerates toward a $150 billion milestone, investors should closely watch how WW's partnership with Novo Nordisk translates into patient adoption and revenue growth.