Diet Pills Market Size & Trends | Forecast 2021, 2028

The diet pills market is expected to grow from US$ 1,132.55 million in 2021 to US$ 2,270.94 million by 2028; it is estimated to grow at a CAGR of 10.4% from 2021 to 2028.

Diet pills are tablets used in conjunction with a good diet and exercise routine to help people lose weight. There are various options, but the NHS considers most of them ineffective. A few diet pills may be useless to help people lose weight, while others may be effective yet too dangerous to consume. Phentermine and topiramate-containing weight loss tablets have been proved to help people lose weight. 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 also expected to contribute to the growth of the diet pills market size.

The diet pills market is segmented based on product type, application, age group, distribution channel, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The diet pills market report offers insights and in-depth analysis of the market, emphasizing market trends, technological advancements, market dynamics, and the competitive analysis of the globally leading market players.      

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Diet Pills Market: Strategic Insights

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Market Insights

New Product Launches by Market Players to Drive Diet Pills Market

In terms of the modern healthcare scenario, obesity is a massive concern globally. Obesity can give rise to several other associated chronic conditions, such as diabetes and cardiovascular diseases, which are the main concerns. Using specific prescription and over-the-counter drugs may help individuals struggling with effective weight management. The medication works in many ways to aid in effective weight management. A few of these diet pills may block fat absorption and suppress the appetite to aid weight management. Hence, increasing prevalence and concerns with obesity are expected to support the growth of the diet pills market during the forecast period.

Following are a few examples of companies that launched new diet pills and developments:

• In February 2022, Iovate Health Sciences International Inc., under its nationally recognized Hydroxycut weight loss supplement brand, announced a new National US brand campaign, “No Fads. Just Weight Loss.” The campaign aims to highlight a three-step weight-loss journey.
• In February 2020, VIVUS LLC and Alvogen—a Korean marketing partner, launched Qsymia (phentermine and topiramate extended-release) in the Republic of Korea. VIVUS LLC signed an agreement with Alvogen, an established leader in the South Korean anti-obesity market, to maximize the value of commercial-stage assets efficiently and cost-effectively.

Such developments by market players are driving the diet pills market.

Product Type Insights

Based on product type, the global diet pills market is segmented into prescription, over the counter drugs, herbal supplements. In 2021, the prescription segment held the largest share of the market. However, the herbal supplements segment is expected to register the highest CAGR during 2021–2028. The rising interest in natural products and preventative healthcare and a surge in spending on health and wellbeing are among the primary drivers of the herbal supplements segment growth. 

Application Insights

Based on application, the global diet pills market is segmented into appetite suppression, fat blocking, metabolism raising pills, and others. In 2021, the appetite suppression segment held the largest market share; it is expected to register the highest CAGR during 2021–2028. The appetite suppressing supplement does not contain caffeine or other stimulants; however, it can increase energy and focus. The person is more likely to stick with the workout routine and maintain a healthy lifestyle with more energy. Hence, these reasons are likely to boost the segment growth during the forecast period.

Product launches and collaborations are highly adopted strategies by the global diet pills market players. A few of the recent key market developments are listed below:

• In December 2021, Pfizer Inc. acquired Arena Pharmaceuticals for ~US$ 6.7 billion to reshape its portfolio of inflammation drugs. Furthermore, Pfizer was uniquely positioned to acquire more assets.
• In September 2019, Currax Pharmaceuticals LLC acquired Nalpropion Pharmaceuticals, Inc. As a result of this acquisition, Currax owned the worldwide rights to CONTRAVE, which is the number one prescribed weight-loss brand medication in the US.

The companies engaged in the diet pills market witnessed an adverse impact on their services in early 2020 due to the temporary shutdown of their laboratories. However, research laboratories reopened globally after the upliftment of lockdown. As a result, many service providers prioritized a few critical actions of the consumers during the COVID-19 pandemic, such as giving a range of high-quality COVID-19 related research tools; reassigning R&D resources for producing essential products; expanding the supply chain; supporting increased demand for COVID-19-related research products; and entering into discussions and collaborations across the UK, the US, and China concentrated on SARS-CoV-2 diagnostics, drugs, and vaccines development. Moreover, sales of dietary supplements for immune health increased after the emergence of the COVID-19 outbreak. Many people hoped that these products might protect consumers against SARS-CoV-2 infection and reduce disease severity in COVID-19 patients.

However, the lockdown disrupted the product supply chain and caused problems with raw material collection, thus affecting the market minimally. This pandemic is affecting the operations of the various key players operating in this region

Diet Pills Market Regional Insights

The regional trends and factors influencing the Diet Pills Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Diet Pills Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Diet Pills Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Diet Pills Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Diet Pills Market are:

1. Novo Nordisk A/S
2. Gelesis
3. VIVUS LLC
4. Chong's Health Care
5. GlaxoSmithKline plc.

Disclaimer: The companies listed above are not ranked in any particular order.

Diet Pills Market Segmentation

The global diet pills market is segmented based on product type, application, age group, distribution channel, and geography. Based on product type, the market is segmented into prescription, over the counter drugs, and herbal supplements. Based on application, the diet pills market is segmented into appetite suppression, fat blocking, metabolism raising pills, and others. Based on age range, the diet pills market is bifurcated into teenagers and adults. Based on distribution channel, the diet pills market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies & drug stores. By geography, the diet pills market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.  

Company Profiles

• 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