Novo Nordisk (NYSE: NVO) is the big name behind Ozempic and Wegovy, two drugs that have been helping people lose weight substantially. The drugs have already been huge catalysts for the business, with sales booming this year. And there's even more growth ahead for the company in the long run. But is there enough potential out there for Novo Nordisk to become a $1 trillion-dollar stock by the end of the decade?

What's promising about Novo Nordisk's business is that it focuses on diabetes and obesity care, which are two areas of healthcare that require ongoing care, and where there is a huge need for treatment. More than two-thirds of American adults are overweight or obese. And as of 2022, the obesity rate was over 35% in 17 states. Why that's concerning is because obesity can lead to many illnesses, including diabetes.

According to Wall Street analysts, the anti-obesity drug market could be worth more than $100 billion, with Novo Nordisk being one of the major players in it. A big reason to remain bullish on effective weight-loss treatments is that they can help with more than just losing weight. Novo Nordisk says Wegovy, its glucagon-like peptide-1 (GLP-1) weight-loss drug, may obtain approval as a treatment for reducing the risk of cardiovascular diseases in the U.S. That approval could come within six months. In a clinical trial, the drug showed that it decreased the risk of heart attack or stroke in adults who had heart disease and obesity by as much as 20%.

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Source Fool.com