New weight loss drugs are not only changing the way people shed kilos they are also starting to have an effect on the economy. The medical breakthrough is beginning a sizeable shift in the way entire industries are doing business.
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00:00Just five months ago, Sandra Sen was struggling to keep up with her kids, but now every step
00:10feels like a small victory.
00:12For me it's been a complete 180, I'm playing with the kids all the time.
00:16It's all thanks to the drug Wagovi, one of a growing number of GLP-1 medications designed
00:21specifically for weight loss.
00:23The popular brand Ozempic was originally developed for diabetes, but its off-label use as an
00:29appetite suppressant has led to a flood of replicas hitting the weight loss market.
00:34Now let's say 20% of Australians end up taking these drugs, total calorie consumption in
00:41Australia will fall about 6%.
00:44Health economist Adam Spielman says the food industry will be unevenly impacted, with fruit
00:49and vegetable growers likely to benefit.
00:51If you're somebody like McDonald's or Burger King, it's a very different story.
00:56But it's been good news for this 3D body scanner, which monitors fat and muscle levels in the
01:02body.
01:03There has been a massive uplift with our business, I still believe they're a miracle drug.
01:07Because weight loss medications are not listed on the pharmaceutical benefits scheme, it's
01:11hard to determine how many Australians are using them, but country-wide shortages point
01:16to fast-growing demand.
01:18Slightly more than 30% of Australian adults were classed as obese in 2022, and while these
01:25drugs are a powerful tool to counter that, they're not cheap.
01:29With a month's supply of Wigovi costing $460, and for now, they have to be taken for life.
01:36For Sandra though, the drugs are actually helping her make more money.
01:40I make quicker decisions in my business, so we're able to have quicker turnarounds, bigger
01:44growth.
01:45Shedding kilos today could tip the scales of the economy tomorrow.