Careers Blog: Expanding Opportunities in the Weight Loss Sector

Have you seen the effect of the weight loss drug boom on stockmarkets across the world and on the GDP of Denmark? While it is interesting to speculate about slimming down your own waist line; it is certainly fattening job opportunities across multiple markets and locations.

Recent headlines have been dominated by news around the rapid development and commercialisation of weight loss drugs and the use of those by celebrities like Oprah Winfrey, Elon Musk and Rebel Wilson, who have spoken openly about use of slimming drugs. 

So what are we dealing with here? Currently, the main weight loss drugs are GLP- 1 (Glucagon-like-peptide-1) agonists. GLP-1 hormone naturally occurs in the body and regulates glucose levels and insulin secretion, which promotes feelings of fullness and reduced appetite. We have become familiar with the trade names of semaglutide (Ozempic and Wegovy) and liraglutide (Victoza) and their clinical trials demonstrating that the intake of these drugs leads to sustainable weight loss. There is a good article in the Financial Times summarising the new approaches to weight loss, including the combination GLP-1 receptor activator with an NMDA receptor antagonist. This combination is often referred to as ‘Trojan Horse’ because it smuggles small molecule modulators of neuroplasticity into appetite-regulating neurons and could be more effective and longer-lasting than current weight-loss drugs. Other companies are launching their oral pills, which are cheaper to produce and easier to administer than the injections and as of this moment there are around 300 weight loss drugs under development.

According to J.P. Morgan’s research “The increase in appetite for obesity drugs” (November 2023)  the estimated value of the current US weight-loss market is around $7.6 billion annually and it is projected that its worth could reach $44 billion by 2030.  As per Goldman Sachs’ estimates ( “Why the anti-obesity drug market could grow to $100 billion by 2023”, October 2023)  the anti-obesity drug market could grow to £100 billon by 2030, and the impact of the AI-enhanced drug development could lead to a significant growth in GDP in the countries that manufacture the drugs.

The fast advancements that we are witnessing today are already having a significant effect on pharma and the healthcare industry as a whole.  While the scientists are dedicating time to develop the new drugs, jobs growth is not restricted to these sectors. There are a lot more opportunities for business graduates to leverage existing skills, experience and qualifications and use these to enter this ‘new’ industry.  

Let's consider how your skills will match the expanding opportunities in the Weight Loss Sector and what jobs will be required and created:

Strategic Thinking

The fast-growing pharma and biotech companies will need leaders with strategic vision and thinking. Your abilities in identifying market opportunities and building successful partnerships will be of huge value. There will be roles for qualified and skilled Business Development Managers, Strategy Consultants, Business Intelligence Analysts, Market Research Analysts.

Data Analytics

No surprise here! Your ability to use data and draw meaningful insights will be needed in driving strategies and decisions for the organisations working within the industry.  These skills will be handy in analysing sales, market shares and consumer data, but also in building dashboards and using business intelligence tools. You won’t be surprised to see openings for Data Scientists, Data Analysts and Analytics Consultants.

Finance Analysis

Other organisations will require financial modelling and forecasting skills, alongside insights you can offer in evaluating investment opportunities, M&A and capital funding. Financial roles within the industry will be available for Financial Analysts, Investment Analysts, Corporate Finance Managers and Consultants.

Product and Project Management

New drugs will be developed following the boom in the industry, these projects will require skillful leaders and managers, who understand product lifecycles, project timelines, budgets, KPIs and working cross-functionally.  There will be a need for Product Managers, Programme and Project Managers, and Clinical Project Managers.

Compliance

Navigating through a heavily regulated environment, while ensuring adherence to ethical and legal standards, your skills in analysing and working within compliance requirements will be crucial.

Key roles will include Regulatory Affairs Managers, Compliance Officers and Healthcare Policy Consultants.

Marketing

Organisations will need strong brand identities as the competition promises to be fierce. Your skills in developing marketing strategies, storytelling, digital marketing and the ability to analyse campaigns, insights and market trends will be the difference between the market leaders and ‘the rest’.  

You can expect to see an increased demand for Product Marketing Managers, Brand Managers, Communications Consultants and Digital Marketing Managers.

Operations and Supply Chain

Production processes will need to be optimised and sustainable supply chain networks need to be established. Your knowledge and experience of creating an efficient process together with implementing appropriate quality control and risk mitigation measures will be welcome.  

Key roles will include Supply Chain Managers, Manufacturing Managers, Operations Managers and Quality Assurance Consultants.

Don’t lose the opportunity to join the weight loss revolution

1. Identify your key transferable skills and update your CV. There are plenty of resources available from myWBS around your CV, including our “How to Write a CV guide”. Alternatively, you can contact our Alumni Careers Service and get feedback on your CV via our e-guidance service, available through alumnicareers@wbs.ac.uk
    
2. Make sure you keep up-to-date with advances in the industry and any new regulations that might be proposed and implemented. Follow pharmaceutical organisations like The Association of the British Pharmaceutical Industry and Medicines and Healthcare products Regulatory Agency, along with the key industry players on LinkedIn, sign up for their newsletters and updates. Attend industry events.
    
3. Broaden your job search. The above suggested roles are just a few that companies might need, however, there will be demand for other (often support) roles, where your skills and experience will be equally valuable.
    
4. Prepare to face strong competition for roles in this burgeoning industry. The pharmaceutical industry is known for the attractive compensation packages. The potential of high earnings appeal to many professionals with expertise and experience. Networking is likely to play a crucial role in understanding about any ‘unadvertised’ openings, so invest the time to connect with people working in the industry now. 
    
5. Remain flexible and patient – the industry will have ups and downs, as it is heavily regulated and projects are likely to be time-consuming and challenging.
   
   To add to the mix is the variety of ethical questions the drug developers will face in terms of body image, potential side effects and patient safety. As well as raising challenges, this will also present many opportunities in terms of job roles and the positive impact that can be made.