$6.9 Billion Weight Loss Telehealth Market Grows, However Will get Crowded

Telehealth soared in the course of the pandemic in 2020 as customers stayed house and communicated with their physicians through Zoom video calls and by cellphone, electronic mail and chat. The variety of telehealth firms exploded. Then, in 2021-2023, as demand for the GLP-1 weight reduction drugs took off, many of those telehealth suppliers added weight reduction plans primarily based on entry to those medication, plus assist.

The market grew to become extra crowded in 2023, as extra telehealth firms entered the GLP-1 medication market, and customers started to return to in-person physician visits. 2025 might be a troublesome yr the place we see consolidation, because the GLP-1 meds shortages disappear with new manufacturing capability and the numerous compounding pharmacies cease making compounded semaglutide that so many dieters at the moment are utilizing.

Prime Issues to Know About Weight Loss Telehealth Providers

• Market dimension: Marketdata estimates that the marketplace for telehealth weight reduction providers was price $6.9 billion in 2023. Revenues are forecast to develop 8.2% in 2024.

• Common prices for customers: The typical weight reduction telehealth service consumer has 5 follow-up visits per yr, at a value of $50 per go to. Month-to-month subscription charges value $30-80, so the typical consumer spends $610 per yr.

• Use of telehealth providers: Telemedicine utilization soared in the course of the pandemic. A complete of 37% of U.S. adults used telehealth providers in 2021, however this declined to 22% by 2023 (56 million individuals), as customers returned to their docs in individual. Telehealth is right here to remain although, as extra MDs spend money on know-how and customers just like the comfort.

• 2025 consolidation is probably going: GLP-1 weight reduction medication are driving demand for telemedicine providers. An estimated 7% of American adults (or 18 million) at the moment are utilizing GLP-1 medication for weight reduction. Lots of them are utilizing compounding pharmacies to get across the present shortages. Nonetheless, when shortages finish, the digital telehealth platforms will undergo. This may in all probability happen subsequent yr. Count on to see failures and acquisitions.

• Well being coach salaries: As of Mar 13, 2024, the typical telephonic well being coach within the U.S. earned $78,700 per yr.

The place to Be taught Extra

To seek out out extra, you should definitely learn Marketdata’s new report on the telehealth providers for weight reduction market, which gives detailed data on buyer demographics, market dimension and development, weight reduction coaches, compounding pharmacies, and the aggressive panorama.

Concerning the Writer:  John LaRosa is the President of Marketdata LLC and is the creator of 100+ trade and market research. His analysis seems in high media retailers together with ABC, CNN, Fox, Forbes, USA As we speak, The Wall Avenue Journal, The New York Instances, and a wide range of commerce journals.