Is It Time to Take Some Gains in Novo Nordisk Stock? Not So Fast.
When it comes to investing in modern medicine, one area experiencing rising popularity is the global weight-loss market. To provide some context, data from Grand View Research suggests that the global market for weight-loss supplements may grow at a compound annual rate of nearly 17% between 2021 and 2028, reaching roughly $117 billion by the end of the forecast period.
In addition, a report from Morgan Stanley estimates that global sales of weight-loss drugs will reach $77 billion by 2030. And back in April, an analyst at Barclays spoke with CNBC about the global weight-loss drug market, saying that it could potentially reach $200 billion by 2030. While the range of the market size varies considerably among researchers, one thing is pretty clear: weight-loss drugs are in demand.
Market leader Novo Nordisk (NYSE: NVO) is a Danish drug manufacturer that's dominating the weight-loss landscape. However, despite the company's recent success, prudent investors should be aware of the competition and what it could mean for the growth stock long-term.
Source Fool.com
