According to a new report published by Fact.MR, a market research and competitive intelligence provider, the Europe diet pills market was valued at US$ 654 Mn in 2020, and is predicted to expand at a CAGR of around 2.6% over the forecast period (2021–2031).
Factors boosting demand for diet pills in Europe include rising incidence of type-2 diabetes, high cholesterol, and high blood pressure. Constant clinical trials for new medications will support market growth over the coming years. Moreover, growing health awareness is likewise driving developments in the market.
Currently, obesity is observed as a serious health concern, which leads to various other health problems. Diet pills are medicines used to slim down by losing weight along with exercise and an appropriate diet. With the growing trend of fitness in the young populous, there is increasing demand for these weight management products. These medicines act as a supplementary measure for weigh reduction other than routine regime of exercise and dietary patterns.
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Key Takeaways from Market Study
- Glucomannan is expected to contribute more than 41% revenue share in the market by 2031.
- Among all the drug type, demand for herbal supplements is expected to increase at a CAGR of 3% through 2031.
- Appetite controlling pills dominate the market among the mechanisms, and are expect to reach a valuation of US$ 595 Mn by 2031.
- The U.K. holds the highest share in the Europe diet pills market, while Germany is the next leading country, with these markets expected to progress at 3.6% and 3% CAGRs, respectively.
“Growing prevalence of obesity, unhealthy lifestyle, and rising awareness regarding preventive health are factors that have changed the focus of the pharmaceutical industry towards the development of weight loss pills,” says an analyst of Fact.MR.
How is Increasing Prevalence of Obesity and Associated Comorbidities Impacting Demand for Diet Pills for Appetite Suppression?
Growing incidence of obesity is a major challenge to disease prevention across the globe. It is estimated that obesity is a major public health problem in Europe. For instance, in 2016, according to Eurostat data, obesity affects 10%-30% of adults, and overweight affects 30%-70% adults in European Union countries.
Weight loss with both, prescription-based diet pills and over-the-counter diet pills play a vital role in the treatment of highly critical obesity and diseases associated with it, such as diabetes, hypertension, and sleep apnea.
Cases of obesity among adolescents and children aged 5-19 have grown dramatically from just 4% in 1975 to over 18% in 2016. This shows that prevalence of obesity has nearly tripled between 1975 and 2016.
Thus, rising incidence of obesity and related medical conditions will lead to growing adoption of drugs for weight loss and obesity, which will accelerate demand for weight loss pills.
Why is Demand for Diet Pills Surging across the U.K.?
According to projections by Fact.MR, the market in the U.K. is expected to observe lucrative growth of over the forecast period with a value of approx. US$ 193 Mn by 2031.
In the U.K., around 29% of adults were categorized as obese by the World Health Organization (WHO) in 2017, growing from 26% in 2016. Owing to this, people in the country have increased the consumption of dietary supplements.
Customers here have better access to knowledge about nutrition and health, owing to social media, lifestyle blogs, and active media telecasts. In addition, key players are increasing investments in new product development and advertising, which, consequently, boosts demand for diet pills in the country.
Furthermore, e-Commerce platforms aid market growth at an incredible rate due to the ability to access different brands and for the convenience that it provides.
How Has COVID-19 Impacted Sales of Diet Pills in the European Market?
In January 2020, the World Health Organization (WHO) declared COVID-19 pandemic as a world health emergency. The pandemic emergency is challenging governments to execute monetary measures and fiscal policies that sustain economic activity and support credit markets.
Because of the COVID-19 pandemic, the diet pills industry in Europe improved among various pockets as maximum of European customers increased their interest on overall wellness and health.
For example, the outbreak of COVID-19 in March 2020 in Poland had a remarkable effect on buying patterns that transformed into volume of product sales. From February to March, the largest sales rise was recorded for products from the health industry, such as OTC drugs, thereby benefiting the dietary supplements market.
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Key players are focusing on expansion in emerging countries and introducing features in their product lines. Various manufacturers are spending on developing integrated software that can include cutting-edge technologies to understand the formulation of diet pills.
Market players are also engaged in expanding their regional presence through acquisitions, collaborations, expansions, product launches, and improvement of distribution channels.
- In September 2019, Currax™ Pharmaceuticals LLC announced the acquisition of Nalpropion Pharmaceuticals, Inc. Currax now owns the worldwide rights to CONTRAVE, which is the number one prescribed weight-loss brand medication.
- In June 2020, Holland & Barrett and Deliveroo announced a new partnership to deliver a selected range of more than 200 products from 50 stores across the U.K.
- In September 2018, Nature’s Way Products, LLC and Natural Products Canada entered into a new investment agreement for investing in new companies working in natural products sectors such as supplements and dietary ingredients.
Segments Covered Europe Diet Pills Industry Research
- Lipase Inhibitors
- Garcinia Cambogia
- Prescription Drugs
- OTC Drugs
- Herbal Supplements
- Metabolism Raising Diet Pills
- Fat Blocking Diet Pills
- Appetite Controlling Diet Pills
- Diet Pills Sold at Hospital Pharmacies
- Diet Pills Sold at Retail Pharmacies
- Diet Pills Sold at Clinics
- Online Sales of Diet Pills (e-Commerce)
- Sales of Diet Pills by Drug Stores
Detailed Insights Offered in Europe Diet Pills Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Sales of Diet Pills in 2020 and Beyond and How to Navigate
- Recommendation on Key Winning Strategies
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