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The GLP-1 revolution is quietly continuing even as investor interest has moved on to more timely topics. One of the best ways to access the fast-growing weight loss drug space is via makers like Novo Nordisk (NYSE: NVO) or Eli Lilly (NYSE: LLY), the leading companies responsible for developing and manufacturing products like Ozempic and Zepbound.

There are, of course, less direct ways that investors can benefit from the GLP-1 rush as well. The prospect of the market tripling in size in the coming years has enticed a host of other drug developers to work toward their own offerings, and a number of up-and-coming pharma firms may be worth watching—or investors can look at dedicated exchange-traded funds (ETFs) like the Roundhill GLP-1 & Weight Loss ETF (NASDAQ: OZEM) for a broader view.

But the impact of GLP-1 agonists is extending beyond the pharma space, and the companies below could benefit from this trend despite their lack of direct involvement.

GLP-1 Telehealth Business Positioned to Thrive

Teladoc Health (NYSE: TDOC) operates a telehealth platform that provides patients with virtual care services related to obesity management and metabolic health, among other services.

These areas of Teladoc's business, along with GLP-1 prescription initiation, are growing particularly rapidly. The company simply makes it as easy as possible for qualified patients to gain access to GLP-1 treatment, which can be a game-changer for those without convenient access to in-person specialists.

This has had a real impact on Teladoc's results. In Q1 2026, for instance, the firm beat revenue expectations by about $3 million at $614 million, and adjusted EBITDA of $58 million also came in ahead of guidance. Visit-based care is being enhanced by AI-enabled 24/7 offerings that will likely be a sales and margin driver throughout the rest of this year at least.

At the same time, Teladoc is working to right its balance sheet by initiating a multi-step debt reduction process and planning to limit its stock-based compensation to $55 million or less in the coming year. The firm is also building its financial strength with a cash reserve that reached $751 million at the end of the first quarter.

This is a welcome change for investors after several consecutive quarters of shaky financial health, as indicated by a TradeSmith health indicator in the red zone.

GLP-1 Customers Buying New Wardrobes Might Fuel This Retailer's Growth

Discount retailer Ollie's Bargain Outlet (NASDAQ: OLLI) may seem to be an unlikely beneficiary of GLP-1 drugs, but this and similar clothing stores could play an increasingly important role for patients losing weight and needing to buy new clothes.

Ollie's is among the most aggressive discount clothing retailers in terms of pricing and could be well-positioned to gain business from GLP-1 patients seeking to replace a large volume of clothes quickly.

For Q1 2026, Ollie's reported strong results overall, including sales growth of 14% year-over-year (YOY) and comparable store sales improvement of 1.7% over the same period.

Adjusted earnings per share (EPS) increased by 21% YOY as well, despite headwinds including inflation and higher fuel prices.

Ollie's is also expanding rapidly, with 27 new stores opening in the first quarter of the year and a planned 75 new openings in total this year.

OLLI stock is a Moderate Buy across Wall Street, based on 14 Buy ratings and three Holds. Shares have fallen by almost 30% year-to-date (YTD) but have about 60% in upside potential based on analyst price targets.

Glucose Monitoring Devices Could Surge in Popularity

Although not a pharma company, health care sector peer DexCom (NASDAQ: DXCM) is a medical device firm that could benefit from the GLP-1 trend because of its continuous glucose monitoring (CGM) tools. CGM are vital to GLP-1 patients with Type 2 Diabetes, making these products a useful companion to GLP-1 treatment in some cases.

Care providers may increasingly view CGMs and GLP-1s as a combined solution for patients with diabetes. CGMs have long been associated with insulin treatments, but the rapid expansion of GLP-1s outside of the population of patients with diabetes has the potential to open up monitoring needs for those interested in tracking glucose trends even if they are not also using insulin. DexCom has responded by launching over-the-counter products for a wider patient population.

Overall, more individuals gaining awareness of metabolic health and an interest in monitoring their own glucose levels could mean a surge in business for DexCom. This may contribute to DexCom's strong popularity among analysts: the stock has 22 Buy ratings compared to three Holds and one Sell, alongside 17% in predicted upside potential.

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