Hims & Hers built its business on hair loss and weight loss drugs. Now it's chasing peptides - a $2.2 billion market the company thinks it can take a real piece of.

The Next Big Bet

Peptides are short chains of amino acids that act like signals in the body, telling cells what to do - and they show up in everything from weight loss and muscle recovery to skin care and sleep.

The market is worth $2.2 billion today and growing fast, as more people look past traditional prescriptions for ways to lose weight, build muscle, or feel better.

Hims wants in.

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The Playbook That Already Works

Hims didn't invent telehealth. But it has turned the model into a machine: a quick online consult, a prescription, a monthly fee, and meds at your door.

That setup worked for ED treatments, then hair loss, then again for weight loss drugs like GLP-1s.

Peptides fit the same mold. Most need a prescription, most are taken on a schedule, and most patients would rather skip the doctor's office.

Hims already has the rails to deliver all of that.

The bigger edge is the customer base. Millions of subscribers are already paying Hims for one product, which makes selling them a second one cheaper than chasing a brand new customer.

Worth Noting

The catch is regulation. The FDA has been tightening rules around compounded GLP-1s, and peptides could face the same treatment.

If the agency moves to restrict what telehealth companies can sell here, the runway shrinks fast.

Competition is the other piece. Hims won't be the only company eyeing this market, and traditional pharma is watching too.

Still, Hims has run this play before. Twice.

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