Inspired by Radicle Insights: Five transformative trends in health tech and dietary supplements” originally published by Natural Products Insider

As we transition into the New Year, it’s natural to take stock of the headlines from 2023 and anticipate what is in store for 2024. When it comes to big market opportunities and drama, we anticipate that 2024 will deliver. 

Here’s our predictions for what health and technology have in store for this year: 

Prediction #1: Femtech marches on and picks up steam

Back in the 1970s, the FDA recommended the exclusion of women of childbearing age from clinical trials. While this was later reversed in the 1990s, it means that we lost nearly two decades of knowledge on unique aspects of women’s health. Since then, we’ve seen an increase in women’s products and we see that continuing to pick up steam in 2024. 

While most of the focus on women’s health supplements to date have been on pregnancy and reproductive health, the tides are turning. More everyday dietary supplement solutions specifically for women are coming online everyday. While historically under-supported and under-studied, expect 2024 to start making up for it when it comes to women’s health and supplements

Prediction #2: The rise of off-label use of pharmaceutical products

While we are hearing about the impact that Ozempic is having on consumers and shopping, its potential impact on dietary supplements hasn’t been explored. On one hand, there is the threat that comes with consumers increasingly reaching for off-label use of pharmaceuticals in a category that has been typically dominated by supplements, weight loss. On the other hand, some of the side effects of Ozempic-use (like muscle loss) could create an opportunity for dietary supplements. 

We will see how this continues to shake out in 2024. 

Prediction #3: Tools to improve supplement adherence 

While supplement users believe dietary supplements are crucial for health, the reality is that the supplement industry has an adherence problem. And it’s not just supplements, pharmaceutical products (even antibiotics) share this same issue. In 2024, anticipate dietary supplement brands to increasingly commit to helping consumers stay the course to track their usage, and get real-time results on their health journey. Not only is this good for consumers, it’s good for brands to reduce churn, increase repeat purchases and increase lifetime value.  

Prediction #4: AI: Just get used to it. It’s here to stay.

While AI just recently hit the scene, it’s now seemingly everywhere. Whether at home or at work, AI is no longer the future, it’s here. While originally anticipated to be a job killer, it’s not looking like it, at least in the short term. Rather it’s serving more in the capacity of an assistant in the office and at home. Executives estimate 70% of their workforce will use AI for task automation or augmentation by 2028. If you haven’t started exploring this new technology, make a commitment to learn in 2024.

Prediction #5: Amazon warning letters: the next step 

While Amazon received its fair share of warning letters in 2023, don’t expect it to change in 2024. Not only do we expect the warning letters to continue, but also to potentially pick up steam and evolve. Given that the issue of unsubstantiated claims and undeclared ingredients isn’t limited to Amazon, other online and brick & mortar retailers may be at risk. Expect FDA to crack down on this in 2024 potentially resulting in non-compliant products getting pulled from shelves and leaving compliant products with nothing but increased shelf-space opportunity. 

In addition to all of the above, 2024 is an election year. Put your seatbelt on! We are in for a crazy ride. 

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