According to a new report released by Fact.MR, a provider of market research and competitive intelligence, the European diet pills market is valued at US $ 654 million in 2020 and is expected to grow at a CAGR of around 2, 6% over the forecast period. (2021-2031).
Factors driving the demand for diet pills in Europe include the increased incidence of type 2 diabetes, high cholesterol and high blood pressure. Ongoing clinical trials for new drugs will support the growth of the market over the next few years. In addition, the growing health awareness is also driving the evolution of the market.
Currently, obesity is considered to be a serious health problem, which leads to various other health problems. Diet pills are drugs used to slim down by losing weight with exercise and proper diet. With the growing trend of fitness among young people, the demand for these weight management products is increasing. These drugs act as an additional measure for weight reduction other than the routine exercise regimen and eating habits.
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Key points of the market research
- Glucomannan is expected to contribute over 41% of market revenue by 2031.
- Among all drug types, demand for herbal supplements is expected to increase at a CAGR of 3% through 2031.
- Appetite control pills dominate the market among the mechanisms and are expected to reach a valuation of US $ 595 million by 2031.
- The UK has the highest share of the European diet pill market, while Germany is the next leading country, with these markets expected to grow at 3.6% and 3% CAGR, respectively.
“The increasing prevalence of obesity, an unhealthy lifestyle and a growing awareness of preventive health are factors that have changed the focus of the pharmaceutical industry towards the development of diet pills,” says an analyst at Fact.MR.
A growing number of manufacturers of innovative weight management products
Innovation has played a constant role in the development of diet pills, which creates business opportunities for manufacturers. The development of new products with more health benefits encourages consumers to try new nutritional supplements. Key players are offering calorie restriction diet pills to overcome weight-related risk factors such as diabetes and hypertension.
The increasing prevalence of obesity has prompted manufacturers to innovate more effective diet pill supplements. The expansion of technology platforms and the intensification of research into innovative weight management products are expected to lead to increased market growth.
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Key Takeaways for Europe Diet Pills Market Research Report:
- The demand for prescription weight loss pills will continue to increase in the UK. Fact MR predicts that overall sales of diet pills in the country will exceed US $ 193 million by 2031.
- Sales of diet pills in Germany will increase at 3% CAGR due to growing concerns about health and wellness.
- By drug class, the glucomannan segment represented more than 39.5% of the European market in 2020.
- By drug type, herbal dietary supplement sales totaled US $ 444.3 million in 2020 due to increased consumer demand for biologics.
- Increasing spending on dietary supplements and nutrition is boosting demand for diet pills for appetite control.
- The expansion of diet pills distribution channels will strengthen sales opportunities in Europe.
- The increasing adoption of drugs for weight loss and obesity control will accelerate the demand for diet pills in Europe.
- The increased availability on e-commerce platforms will encourage sales of diet pills in Europe.
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- The high cost of drug development hampers the demand for diet pills.
- Strict regulations imposed by the research and development of obesity-related drugs will restrain the growth of the market.
- The adoption of off-label drugs limits the penetration of real drugs, which restricts the growth of the market.
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Research overview: https://www.factmr.com/report/europe-diet-pills-market
Press release: https://www.factmr.com/media-release/2100/europe-diet-pills-trends