Europe Diet Pills Marketis predicted to expand at a CAGR of around 2.6% over the forecast period (2022–2031)
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 (2022–2031).
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.
Increasing Number of Manufacturers Innovating Weight Management Products
Innovation has played a consistence part in the development of dietary pills, which is creating business opportunities for manufacturers. New product development with more health benefits is encouraging consumers to try novel nutrition supplements. Key players are offering dietary pills for caloric restriction to overcome weight-related risk factors such as diabetes and hypertension.
Growing prevalence of obesity has propelled manufacturers to innovate more effective diet pill supplements. Expanding technological platforms and increased research on innovative weight management products are expected to result in increased growth of the market.
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Key Takeaways for Europe Diet Pills Market Research Report:
- Demand for prescription-based pills for weight loss will continue rising in the U.K. Fact MR predicts overall diet pill sales in the country to surpass US$ 193 Mn by 2031.
- Sales of diet pills in Germany will rise at 3% CAGR owing to rising concerns about health and wellness.
- By drug class, glucomannan segment accounted for over 39.5% of the Europe market in 2020.
- By drug type, herbal diet supplements sales totalled US$ 444.3 Mn in 2020 owing to increase in demand for organic product consumption.
- Rising spending on dietary supplements and nutrition are driving demand for diet pills for appetite control.
- Expansion of distribution channels for diet pills will bolster sales opportunities in Europe.
- Rising adoption of drugs for weight loss and obesity-control will accelerate demand for weight loss pills in Europe.
- Increasing availability across e-commerce platforms will encourage diet pill sales in Europe.
- High cost of drug development is hindering demand for diet pills.
- Stringent regulations imposed by research and development of obesity related drugs will restrain market growth.
- Adoption of off-label drugs limits penetration of actual drugs which is restraining market growth.
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