Europe Diet Pills Projection By Dynamics, Trends, Predicted Revenue, Regional Segmented, Outlook Analysis & Forecast Till 2028

Market Overview

The Europe diet pills market size was USD 237.1 million in 2020. The market is projected to grow from USD 297.1 million in 2021 to USD 1,411.1 million in 2028 at a CAGR of 24.9% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, "Europe Diet Pills Market, 2021-2028." As per our researchers, in spite of the stringent monitoring situation in Europe, augmented acceptance of diet pills is anticipated to result in better engagement of significant companies. These corporations are likely to be involved in R&D programs for the formation of novel drugs, resulting in the introduction of products with superior efficiency.

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As these medications aid individuals to drop weight with a combination of nutrition and workout, these products are anticipated to observe higher acceptance percentages. Therefore, affirmative market features pooled with influential product presentations are probable to result in a remarkable execution of the market for Europe diet pills of these drugs during the mentioned timeframe of 2021-2028.

Declining Clinical Visits during COVID-19 Lockdown to Hamper Market Growth in Europe

The COVID-19 pandemic has constrained the growth of the market as the government representatives employed severe lockdown guidelines, and eventually, the people too refrained from making hospital appointments in order to evade the coronavirus infection.

These descended hospital visits in Europe have resulted in a decrease in the number of fresh drug recommendations for weight loss, which has in turn revealed further penalties of diminished market growth in 2020.

Nevertheless, the robust implementation of online pharmacies insignificant countries such as the United Kingdom and Germany for recurrence prescription restocks has prohibited the CAGR of the year 2020 from being in negative numbers. Moreover, sustained adoption of OTC diet pills in 2020 has also prevented a more pronounced negative impact

Report Coverage

The Europe diet pills market report delivers a rounded assessment of the overview and the fragments of the market. A wide-ranging study of the existing trends and forthcoming opportunities in the market is offered in the report. It correspondingly delivers extensive analysis of the regional insights and how these aspects shape the market in Europe. The impacts of the COVID-19 pandemic are added for an extended understanding of the conceivable risks in the market. The proficient approaches of the best players and their methods to navigate the growth of the market for these pills are revealed in the following report.

Segmentation

On the basis of product type, the market is segregated into prescription and over-the-counter (OTC) segments. In terms of the product type segment, the prescription segment was responsible for the maximum market share in 2020, which is credited to the sturdy sales of prescription diet pills such as Saxenda (liraglutide).

By application, the global market is divided into appetite suppression, fat blocking, and others. On the basis of distribution channels, the market is further classified into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. Based on country/sub-region, the European market is separated into Germany, the U.K., France, Italy, Spain, Denmark, The Netherlands, Norway, Sweden, Russia, and the rest of Europe.

Drivers and Restraints

Robust Pipeline Applicants to Stimulate Market Growth

In Europe, the escalation in the commonness of obesity has been overwhelming, which has considerably augmented the necessity of operative beneficial actions to tackle the issue. As the concern of obesity is anticipated to rise over the following few years, there lies a bigger necessity for the introduction of novel weight loss diet pills in the European market. This has resulted in the involvement of numerous recognized as well as evolving companies in the R&D initiative programs for the formation of weight loss medicines.

For example, the U.S.-based biopharmaceutical company Amgen Inc. presently owns two pipeline drug applicants in Phase 1 of the course of the medical trials. The pipeline drug candidate of AMG 171 of the company, which is a combination protein drug, is in the Phase 1 investigation process in the United States. This is expected to further boost the Europe diet pills market growth during the forecast period.

Regional Insights

Increasing Prevalence of Obesity to Help Germany Dominate

The market size of Europe was worth USD 237.1 million in 2020, and the region is projected to observe robust growth trends in the foreseeable future. This solid occurrence of obesity in the region, estimated novel product introductions, and risen anxieties regarding obesity being the next public health emergency in Europe are estimated to thrust the market growth in the near future.

In terms of nations, Germany is likely to be accountable for holding the highest Europe diet pills market share in terms of revenue in the year 2020. Few of the causes for the influential market share of this country comprises the robust incidence of obesity and the augmented consciousness concerning the forthcoming obesity issues in the country.

The United Kingdom is expected to be responsible for the second-highest share in this market during the mentioned timeframe of 2021-2028. For example, as per the approximations by the Health Survey for England in 2019, it was anticipated that 28.0% of grownups in England are obese, and an additional 36.2% are measured as overweight.

Competitive Landscape

Key Players Aim to Expand Their Product Portfolios to Gain a Competitive Edge

Several key players and companies are constantly on the lookout for making expansions and progressions in their businesses by various methods. Among many strategies available in the market, one effective and weighty tactic is to attain government authorization and to make the product available for the general public. For example, in December 2020, Novo Nordisk declared that the solicitation for Marketing Authorization for semaglutide in obesity has succumbed to the European Medicines Agency (EMA).

Industry Development

October 2019: VIVUS declared approval of Qysmia decentralized marketing authorization application in the European region.

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List of Key Players Covered in this Market Report

Hoffmann-La Roche Ltd (Basel, Switzerland)
Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)
GlaxoSmithKline plc (London, U.K.)
Novo Nordisk A/S (Bagsværd, Denmark)
Sandoz International GmbH (Novartis AG) (Holzkirchen, Germany)
VIVUS Inc. (Campbell, U.S.)
Currax Pharmaceuticals LLC (Morristown, U.S.)
Continued. . .

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NOTE: Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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This release was published on openPR.