Navigating Weight Management: Turning to the Assistance of GLP-1
According to pre-pandemic statistics from the National Health and Nutrition Examination Survey, over 100 million adults in the US, who are 20 years old or older, suffer from obesity. In the last two decades, obesity rates have seen an alarming rise, from 30.5% to over 41.9%. In 2019, obesity was responsible for medical expenses amounting to nearly $173 billion, as per the Centers for Disease Control and Prevention (CDC).
In light of this public health emergency, prescriptions for glucagon-like peptide-1 (GLP-1) agonist medications are on the increase. By May 2024, a survey by Kaiser Family Foundation revealed that around 12% of US adults had used a GLP-1 drug, and 6% were still under medication.
Research from J.P. Morgan predicts that by 2030, there will likely be around 30 million GLP-1 users in the US, equivalent to approximately 9% of the population. However, the widespread obesity and overweight problems, along with diabetes and other metabolic issues, call for an even broader range of solutions, especially given the common side effects such as nausea, vomiting, and diarrhea associated with GLP-1 drugs.
The weight loss supplement market worldwide stood at $29.96 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 13.7% from 2024 to 2030, according to Gran View Research. “The escalating cases of obesity and related health concerns, such as heart diseases, diabetes, and high blood pressure are projected to boost the demand for these products,” stated the report.
Simultaneously, the worldwide market for meal replacement products, estimated to be worth $14.1 billion in 2024, is predicted to surge to a value of $23.1 billion by 2034, growing at a CAGR of 6.4%, as per a Future Market Insights report. The report noted that this market is rapidly growing within the larger health and wellness industry, catering to the increasing consumer demand for convenient, healthy, and functional diets. These include not only ready-to-eat food and beverages but also easy-to-absorb powders and protein shakes, serving as dietary substitutes to traditional meals.