Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Diet Pills Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The latest market research sheds light on the remarkable growth trajectory of the diet pills market, which is set to rise from a valuation of $1.62 billion in 2023 to a projected $1.81 billion in 2024, marking a significant compound annual growth rate (CAGR) of 11.5%.
This comprehensive report uncovers the myriad factors fueling this expansion, including the mounting concerns over obesity rates, a heightened awareness of health and wellness, and the influence of targeted marketing initiatives.
The diet pills market is anticipated to continue its upward climb, reaching an impressive $2.79 billion by 2028, propelled by a steady CAGR of 11.4%. The forecast period is characterized by an unwavering commitment to health and fitness, bolstered by an increase in the global overweight population, advancements in product development, and the pervasive reach of online retail and direct consumer channels.
Regional Spotlight: North America Dominates the Market
The North American region stands at the forefront of the diet pills market, showcasing the largest market share in 2023. This dominance is supported by a robust healthcare infrastructure, increasing awareness of weight management solutions, and the presence of key industry players.
Market Dynamics: Obesity and Chronic Diseases to Surge Demand
With obesity rates reaching new heights and chronic diseases becoming increasingly prevalent, the demand for efficient weight management solutions, such as diet pills, is on the rise. The market report highlights the significant role played by diet pills in appetite suppression and promoting healthier lifestyles, thereby contributing to the market's growth.
Key Trends: The Rise of Plant-Based and Technological Innovations
An emerging trend in the diet pills market is the surge in popularity of plant-based supplements, catering to a growing consumer demand for health-conscious options. Technological advancements in supplement formulations, aiming at enhancing absorption and efficacy, have also been identified as a major industry trend.
- Market Segmentation: Broad Spectrum of Product Offerings
- Strategic Acquisitions: Expansion and Growth
- Consumer Demographics: Focus on Diverse Needs
- Distribution Channels: Accessibility Through Various Platforms
- Comprehensive Analysis: Product Types and Applications
The research report delivers a thorough dissection of the diet pills market, delving into various categories, including prescription, over-the-counter, and herbal supplements. Notably, prescription diet pills emerge as a vital component within the market, recommended for safe and effective weight management under medical supervision.
Industry Leaders Strive for Innovation and Expansion
The global market is characterized by strategic movements by industry stalwarts, aiming to innovate and expand their presence. For instance, the acquisition of Medi-Weightloss, Inc. by Audax Private Equity marks a milestone for extending access to specialized weight-loss programs and dietary supplements.
The market report provides in-depth analysis and insights into the factors shaping the present and future of the diet pills industry, outlining the key players and their market positions without revealing proprietary company insights.
Report Scope
Markets Covered:
- By Product Type: Prescription; Over The Counter; Herbal Supplements
- By Age: Teenagers; Adults
- By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies; Drug Stores
- By Application: Appetite Suppression; Fat Blocking; Other Applications
Companies Profiled
- GlaxoSmithKline
- Iovate Health Sciences International
- Novo Nordisk
- Gelesis
- VIVUS
- Pfizer
- Zoller India
- Creative Biosciences
- Applied Nutrition
- Herbalife Nutrition India Private
- Camillotek India
- Avon Products
- NOW Foods
- MuscleTech Research and Development
- Healthviva Group of Companies
- Nalpropion Pharmaceuticals
- Chong's Health Care Pte
- Currax Pharmaceuticals
- TEVA PHARMACEUTICAL
- Eli Lilly and Company
- Arena Pharmaceuticals
- Orexigen Therapeutics Inc.
- Takeda Pharmaceutical Company
- Eisai
- Roche Holding
- Sanofi
- Boehringer Ingelheim International
- Merck
- Johnson & Johnson
- Abbott Laboratories
For more information about this report visit https://www.researchandmarkets.com/r/o2msk4
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