The boom in weight-loss drugs may have transformed the obesity market, but Novo Nordisk's CEO says the industry is still only scratching the surface, with tens of millions of Americans potentially eligible for treatment.

Novo Nordisk President and CEO Mike Doustdar joined FOX Business' Cheryl Casone on " Mornings with Maria " to discuss the adoption of GLP-1 drugs, their potential economic impact and the company's outlook for medicines, including Wegovy.

GLP-1 drugs, originally developed to treat type 2 diabetes by mimicking hormones that regulate blood sugar and appetite, have become one of the pharmaceutical industry's fastest-growing segments. Novo Nordisk and Eli Lilly dominate the market, with Novo's Wegovy and Ozempic and Lilly's Zepbound and Mounjaro generating tens of billions in combined annual revenue.

"We are clearly at early innings," Doustdar said, pointing to the large population living with obesity and the relatively limited use of GLP-1 medications. He said more than 100 million people in the U.S. are suffering from obesity, while "somewhere around 10, 15% in a good day" have used a GLP-1.

That gap has persisted even as the drugs have gained widespread cultural attention, partly because of supply constraints that have periodically limited availability, as well as high out-of-pocket costs and uneven insurance coverage.

"There is a long runway still," he said.

Beyond weight loss, Doustdar said wider use of the drugs could eventually help Americans save on healthcare costs while bringing broader economic benefits. Studies have estimated that obesity costs the U.S. economy hundreds of billions of dollars annually in medical spending and lost productivity.

"I do think as we get there, not only you see the health benefits of these drugs, you also see the economical benefit of these drugs," he said.

Doustdar pointed to medication use as one area where a healthier, smaller population could reduce consumption. He used insulin, another product sold by Novo Nordisk, as an example of how dosage can vary with body size.

"I sell insulin, and I know that a person who is larger does more insulin dose than someone who's smaller," he said.

He also pointed to the potential value of healthier people returning to work and becoming more productive, arguing that the benefits could extend beyond the number on a scale.

"Then, of course, comes on top of that, the economical value that comes from people getting back to work healthier," Doustdar said. "People are more productive."