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In terms of the modern healthcare scenario, obesity is a massive concern that is present across all regions in the world. They are particularly concerning as obesity can give rise to several other associated chronic conditions such as diabetes, and cardiovascular diseases. In certain individuals struggling with effective weight management, the usage of certain prescription and over the counter drugs called diet pills, may help. These medications work in the number of ways to aid in effective weight management. Some of these diet pills may block the absorption of fat, and also suppress the appretite to aid in weight management. Hence, increasing prevalence and concerns with obesity, coupled with key regulatory approvals are expected to aid in the growth of the market in the forecast period.
The diet pills market is expected to register a strong growth rate during the forecast period due to factors such as increasing incidence of obesity, increasing prevalence of chronic diseases associated with obesity such as diabetes, key regulatory approvals in diet pills, and growing adoption of diet pills. However, the limited number of product offerings which demonstrate efficacy in terms of weight management are some of the major factors likely to restrict the growth of global market.
Key Market Driver -
Increasing Prevalence of Obesity & Obesity Related Chronic Diseases
Key Market Restraint -
Limited Number of Diet Pills Which Demonstrate Effectiveness in Weight Management
Globally, the diet pills market can be segmented on the basis of product type, application, distribution channel, and region. Based on product type, the market can be segmented into prescription, and over the counter. Based on application, the market can be segmented into appetite suppression, fat blocking, and others. Based on distribution channel, the market can be segmented into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. Geographically, the global market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Some of the major companies that are present in the diet pills market are Novo Nordisk A/S, Gelesis, VIVUS, Inc., Nalpropion Pharmaceuticals LLC, and other prominent players.
Geographically, the diet pills market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to account as the dominant market share. The dominance of North America can be primarily attributed to the factors such as strong incidence of obesity, high prevalence of chronic diseases linked to obesity, and the recent regulatory approvals to certain key diet pills. For instance, according to the data published by Centers for Disease Control and Prevention (CDC), in 2021, the prevalence of obesity was 42.4% in 2017-2018. Europe is expected to account for the second largest market share in global market. Rising prevalence of obesity in the region, presence of key regulatory approvals, and greater awareness of obesity are primarily responsible for the market expansion in Europe. On the other hand, the market in Asia Pacific is expected to grow with the highest CAGR primarily due to increasing prescription drug expenditure and increasing prevalence of obesity in key countries such as China. Latin America and the Middle East & Africa are anticipated to account for limited lower market revenue shares and growth rates. However, strong improvement in healthcare infrastructure coupled with increasing demand for prescription drugs for weight management in these regions are likely to aid the market growth in the forecast period.
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