Dublin, June 21, 2024 (GLOBE NEWSWIRE) -- The "Global Smoking Cessation & Nicotine De-Addiction Product Market 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Smoking Cessation & Nicotine De-Addiction Product Market size was estimated at USD 28.25 billion in 2023, USD 30.89 billion in 2024, and is expected to grow at a CAGR of 9.65% to reach USD 53.87 billion by 2030. 
Rising public awareness concerning the health hazards posed by smoking and nicotine addiction enhance the adoption of smoking cessation products. Stringent regulations and policies aiming to curb smoking rates contribute to the market growth. Ongoing innovations in product offerings, such as e-cigarettes and app-based support for smoking cessation. However, stringent regulations and the potential banning of certain nicotine-containing products can hamper market growth. The high propensity for relapse among quitters poses a persistent challenge to the efficacy of cessation products. Moreover, developing personalized cessation plans using big data analytics to improve success rates. Wearable devices that monitor physiological parameters to offer real-time support and feedback, enhancing use of smoking cessation and nicotine de-addiction products.
Regional Insights
The United States and Canada represent significant markets for smoking cessation products in the Americas. The Americas region is characterized by high consumer awareness and willingness to adopt smoking cessation aids, supported by healthcare policies and community support programs. The EMEA region presents a mixed picture, with EU countries leading in smoking cessation initiatives, while the Middle East and Africa face challenges due to varying regulatory environments and smoking culture. Strict advertising restrictions and smoke-free laws drive the demand for smoking cessation products in European countries. The Asia Pacific region, comprising significant markets such as China, Japan, and India, showcases diverse consumer behavior towards smoking cessation. Robust governmental anti-smoking policies combined with a growing awareness of smoking hazards contribute to the escalating demand for nicotine de-addiction products in the APAC region.
Market Drivers
- Growing Prevalence of Numerous Diseases due to Smoking Such as Respiratory Disorders and Lung Cancer
- Expanding Market Penetration of De-Addiction Products Globally
- Favorable Government Initiatives to Promote Anti-Smoking Policy and Raising Awareness of the Health Impact due to Smoking
Market Restraints
- Product Recalls by the Manufacturer and Companies owing to increasing Technical Faults and Stringent Approval Process
Market Opportunities
- Increasing Approvals and Development of New Nicotine Replacement Products
- Significant Online Market Presence Coupled with Social and Communal Support for Smoking Cessation Products
Market Challenges
- Side Effects Associated with the Continued Usage of De-Addiction Products Coupled with Rising of Alternatives to Tobacco
Market Segmentation Analysis
- Product: Rising adoption of E-cigarettes for smoking cessation
- Distribution: Customer inclination towards online pharmacies for convenience and discretion
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Smoking Cessation & Nicotine De-Addiction Product Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Smoking Cessation & Nicotine De-Addiction Product Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
- BC Cancer Launches Nicotine Replacement Therapy Pilot Program in Prince George
- Imperial Tobacco Canada Is Excited To Launch A Smoking Cessation Product
- NCDHHS Launches New QuitlineNC Services to Make Stopping Tobacco Use and Vaping More Accessible
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Smoking Cessation & Nicotine De-Addiction Product Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Smoking Cessation & Nicotine De-Addiction Product Market, highlighting leading vendors and their innovative profiles. These include:
- 22nd Century Group, Inc.
- Alkalon A/S
- Axsome Therapeutics, Inc.
- British American Tobacco PLC
- Cipla Ltd.
- Ditch Labs
- Dr. Reddy's Laboratories Limited
- Enorama Pharma AB
- GlaxoSmithKline PLC
- Glenmark Pharmaceuticals Limited
- Imperial Tobacco Company of India Limited
- Itaconix
- Japan Tobacco Inc.
- Johnson & Johnson
- JUUL Labs, Inc.
- Novartis International AG
- Perrigo Company PLC
- Pfizer Inc.
- Philip Morris International Inc.
- Pierre Fabre S.A.
- Rusan Pharma Ltd.
- Samyang Holdings Corporation
- Sparsha Pharma International Pvt. Ltd.
- Strides Pharma Science Limited
Market Segmentation & Coverage
This research report categorizes the Smoking Cessation & Nicotine De-Addiction Product Market to forecast the revenues and analyze trends in each of the following sub-markets:
Product- Drug Therapy
- Chantix (Varenicline)
- Zyban (Bupropion)
- E-Cigarettes
- Nicotine Inhalers
Nicotine Replacement Therapies
- Nicotine Gums
- Nicotine Lozenges
- Nicotine Sprays
- Nicotine Transdermal Patches
- Nicotine Sublingual Tablets
Distribution
- Drug Store
- Hospital Pharmacies
- Online Pharmacies
- Retail Pharmacies
Region
- Americas
- Asia-Pacific
- Europe, Middle East & Africa
Key Attributes
| Report Attribute | Details |
| No. of Pages | 183 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $30.89 Billion |
| Forecasted Market Value (USD) by 2030 | $53.87 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/sm9gnm
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