According to The Insight Partners’ Latest Study on “Diet Pills Market Forecast to 2028″ Includes COVID-19 Impact and Global Analysis By Product Type (Prescription, Over the Counter Drugs and Herbal Supplements), Application (Appetite Suppression, Fat Blocking, Metabolism Raising Pills, and Others), Age Group (Teenagers and Adults), and Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies & Drug Stores)
“Diet Pills Market is expected to grow from US$ 1,132.55 million in 2021 to US$ 3 2,270.94 million by 2028; it is estimated to grow at a CAGR of 10.4% from 2021 to 2028. The increase in self-care, the rising problem of obesity, an increase in the elderly population, and a surge in women taking dietary supplements are driving the diet pills market. However, the challenging regulatory environment is expected to restrict the market growth during the forecast period.
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Diet pills are tablets that are used in conjunction with a good diet and exercise routine to help people lose weight. There are a variety of options, but the NHS considers most of them ineffective. Some diet pills may be useless in helping people lose weight, while others may be effective yet too dangerous to use. Phentermine and topiramate-containing weight loss tablets have been proved to help people lose weight.
Leading Players Analysis:
The Diet Pills market majorly consists of the players such as Novo Nordisk A/S, Gelesis, VIVUS LLC, Chong’s Health Care, GlaxoSmithKline plc., Pfizer Inc. (Arena Pharmaceutical GmbH), Iovate Health Sciences International Inc., Zoller Laboratories, Currax Pharmaceuticals LLC., TEVA PHARMACEUTICAL INDUSTRIES LTD. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized strategies such as product launches, expansions, and product upgradations for the growth of their organizations. The companies have adopted several inorganic and organic strategies to accelerate their growth and improve their market position.
Below is the list of the growth strategies done by the players operating in the Diet Pills market:
Jun-21: Novo Nordisk A/S received US Food and Drug Administration (FDA) approval for Wegovy (the brand name for once-weekly semaglutide 2.4 mg injection in the US) for chronic weight management. The approval was based on the results from the STEP phase 3a clinical trial program
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Feb’21: Iovate Health Sciences International Inc. under its nationally recognized Hydroxycut weight loss supplement brand announced the launch of a new National U.S. brand campaign, “No Fads. Just Weight Loss. The campaign aims to highlight a three-step weight-loss journey
Dec-20: Novo Nordisk A/S received US Food and Drug Administration (FDA) approval for Saxenda (liraglutide) injection 3 mg for the treatment of obesity in adolescents aged 12-17 with a body weight above 60 kg and an initial body mass index (BMI) corresponding to 30 kg/m2 or greater for adults, as an adjunct to reduced-calorie meals and increased physical activity
Diet Pills Market Segments:
Based on product type, the diet pills market is segmented into prescription, over the counter drugs, and herbal supplements.
Based on application, the market is segmented into appetite suppression, fat blocking, metabolism raising pills, and others.
Based on age group, the market is bifurcated into teenagers and adults. Based on distribution channel, the market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies & drug stores.
By geography, the diet pills market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
According to body mass index (BMI), 45% of adults in the European Union (EU) had normal weight in 2019, while 53% were considered overweight (36% pre-obese and 17% obese). ~45% of overweight and ~67% of obese US citizens are trying to lose weight. ~15% of adults in the US have taken weight-loss dietary supplements, including 21% of women and 10% of men in the country. Dietary supplements in pill form, such as tablets, capsules, and softgels, cost ~US$ 2.1 billion per year. Weight loss has been 1 of the top 20 reasons for taking dietary supplements. Thus, with the rising obesity rate, the demand for diet pills and supplements has increased.
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