Despite the rise in the prevalence of lifestyle diseases such as obesity worldwide, consumers are becoming aware of the side-effects of weight loss medicines and diet pills. Nevertheless, manufacturers are introducing various types of diet pills that can mitigate its negative impacts on health and boost weight loss processes to offer better results. The diet pills market is likely to witness steady growth with an increasing number of manufacturers and distributors entering the market. Stakeholders are introducing herbal weight loss supplements and natural diet pills to attract a large number of health-conscious consumers, to ultimately gain a competitive edge in the diet pills market. This is expected to remain a leading trend in the diet pills market in the upcoming years.
Low awareness about the availability of diet pills in developing countries may make a negative impact on sales and ultimately, the development of the diet pills market. Subsequently, leading stakeholders in the diet pills market are adopting innovative marketing strategies to promote new drugs and weight loss medications, especially in the developing countries. Furthermore, the growth prospects of the diet pills market are likely to be influenced by increasing investments in research & development of the anti-obesity medication industry. Increasing focus on R&D to address various applications of diet pills is likely to contribute greatly to the development of the diet pills market in the upcoming years.
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Nowadays, obesity is seen as a serious health concern which leads to several other health problems. One in three adults in the U.S. is suffering from the problem. Diet Pills are the medications used to lose weight and slim down along with the diet and exercise. With the increasing trend of losing weight and becoming fit, there is a rising demand for these medications. These medications don’t replace the healthy eating habits or physical exercise for losing weight.
Diet pills may improve person’s health by loosening their weight and thus lowering blood sugar, blood pressure, and triglycerides. These diet pills work by increasing body metabolism, blocking your body from absorbing fat, increasing fat burning and reducing appetite. Some of the diet pills contain a stimulant medication and thus are classified as controlled substances by U.S. Drug Enforcement Agency. Researchers are currently studying several new compounds to identify safer and more effective approach to treat the problem of obesity in patients. Some of the FDA approved medications include orlistat, lorcaserin, phentermine-topiramate, naltroxine-bupropion, liraglutide etc. These diet pills have the capability to reduce 5% to 10% more of their initial weight when used as part of diet or exercise plan over the year. Several factors are considered before going on to the diet pills such as body mass index, severity of obesity and other health-related problems.
There are a variety of diet pills available in the market as over the counter and as prescribed drugs. Prescription diet pills are an option for patients having serious health risks of high blood pressure, diabetes or high cholesterol problem and are not able to control their weight with proper diet and exercise alone. Many diet pills in the market are proven to work. However, some of them are just placebo which may harm the body and do a scam of hundreds of dollars over time.
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Diet Pills Market: Drivers & Restraints
The factors driving the diet pills market include the increasing incidences of high blood pressure, type 2 diabetes, or high cholesterol. Ongoing clinical trials for novel medications also support the market growth over the forecast period. In addition, increasing health awareness is also fuelling the growth of the diet pills market. Several factors restraint the market growth of diet pills such as the associated cost, unpleasant side effects. Also, many of the diet pills don’t always work for everyone which may also limit the overall market growth.
Diet Pills market: Segmentation
By Product Type:
- Prescription Based Drugs
- Over the Counter Drugs
- Herbal Supplements
- Metabolism Raising Pills
- Fat Blocking Pills
- Appetite Controlling Pills
By Distribution channel
- Hospital Pharmacy
- Retail Pharmacy
- Drug Stores
These diet pills are available as prescription as well as non-prescription drugs. Very few proven choices are available in the OTC medications for effective weight loss. Dietary supplements or herbal medications have not been studied adequately for their effectiveness or safety. There exists opportunity for the market players to launch innovative products in the market. Marketing campaigns also play an important role in promoting new drugs and gaining maximum market share. Weight loss is a multi-billion dollar industry and represents a great opportunity for existing as well as new players to enter the market.
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Geographically, the market for Diet Pills can be segmented into five regions, North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America owns the largest market share in the global diet pills market owing to the increasing obesity problem in the region, high awareness among the population, advanced healthcare facilities and favorable reimbursement scenario. This is followed by the European market with EU5 leading the market share due to the easy access to healthcare facilities, ongoing research activities for novel medications as well as availability of different medications types.
Asia-Pacific is also expected to have significant growth rate over the forecast period owing to the increasing concerns for health improvements, rising trend of slim and fit body and due to the rising problems associated with obesity. Latin America followed by MEA is anticipated to have a lower market share over the globe due to the poor healthcare facilities, limited consumption of diet pills and lesser concerns for the health problems.
Some of the service providers in the Diet Pills include Cheplapharm, Arena Pharmaceuticals GmbH, GlaxoSmithKline Pharmaceuticals Ltd., Iovate Health Sciences Inc., Zoller Laboratories, Cortislim, Nanjing Chang’ao Pharmaceutical Co., Vivus, Inc., Orexigen Therapeutics, Inc., Novo Nordisk A/S and others.
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