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

Telehealth soared throughout the pandemic in 2020 as shoppers stayed dwelling 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 medicines took off, many of those telehealth suppliers added weight reduction plans based mostly on entry to those medication, plus assist.

The market turned extra crowded in 2023, as extra telehealth firms entered the GLP-1 medication market, and shoppers started to return to in-person physician visits. 2025 might be a troublesome 12 months 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.

High 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 person has 5 follow-up visits per 12 months, at a price of $50 per go to. Month-to-month subscription charges value $30-80, so the common person spends $610 per 12 months.

• Use of telehealth providers: Telemedicine utilization soared throughout 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 shoppers returned to their medical doctors in individual. Telehealth is right here to remain although, as extra MDs put money into expertise and shoppers 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. A lot of them are utilizing compounding pharmacies to get across the present shortages. Nonetheless, when shortages finish, the digital telehealth platforms will undergo. It will in all probability happen subsequent 12 months. Count on to see failures and acquisitions.

• Well being coach salaries: As of Mar 13, 2024, the common telephonic well being coach within the U.S. earned $78,700 per 12 months.

The place to Study Extra

To search out out extra, you’ll want to 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.

In regards to the Creator:  John LaRosa is the President of Marketdata LLC and is the creator of 100+ business and market research. His analysis seems in prime media shops together with ABC, CNN, Fox, Forbes, USA At the moment, The Wall Road Journal, The New York Instances, and quite a lot of commerce journals.