Dublin, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The "Smoking Cessation and Nicotine De-Addiction Products Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
The global market for smoking cessation and nicotine de-addiction products is expected to grow at a CAGR of 15% during the forecast period of 2022 to 2030.
One of the primary causes that are contributing to the expansion of the smoking cessation and nicotine de-addiction industry is the growing number of people all over the world who are attempting to give up smoking. Because of the harmful effects that nicotine and cigarette addiction have on the cardiovascular and respiratory systems, the government is placing a greater emphasis on the enforcement of stringent rules.
Increase in the Number of People Giving Up Smoking to Benefit the International Market
The World Health Organization (WHO) estimates that tobacco use is responsible for the deaths of more than 8 million people annually. More than 7 million of these deaths are directly attributable to the use of tobacco products, whereas around 1.2 million are attributable to the exposure of non-smokers to second-hand smoke. 8% of the world's 1.3 billion people who use tobacco live in low- or middle-income nations, which have the highest rates of disease and death caused by tobacco use.
In the year 2021, 65.3% of young people (students in middle and high school) who used smoking cessation medicine or products were seriously considering giving up the use of all tobacco products. Products that help people quit smoking are an effective form of treatment for people who are addicted to tobacco and cigarettes.
Stringent Government Regulations and Other Awareness Creation Initiatives to Drive the Market
Warning labels on cigarette packages must now include the phrase "Smoking is harmful to your health," and some nations have even resorted to using graphic images of people who have been harmed by smoking in order to get the message through. On the other hand, this has not exactly been a game-changer in terms of getting people to give up smoking. However, there have been considerable initiatives to quit smoking among the community of smokers because nongovernmental groups and international healthcare organizations have raised awareness about the dangers of smoking. Additionally, the introduction of smoking cessation therapies by various companies has resulted in the growth of a wide variety of alternative therapies in the global smoking cessation and nicotine de-addiction products market. In point of fact, addiction to nicotine is a significant component that contributes to increased sales of cigarettes. As a result, there is a growing demand in the market for nicotine detoxification products such as gums and patches that contain nicotine.
Increasing Therapeutic Alternatives to Expand the Market, E-Cigarettes Especially is a Game Changer
Nicotine replacement therapies (also known as NRTs) were the first products for smoking cessation treatment to be licensed by the Food and Drug Administration (FDA) in the United States. Both Buproprion (brand name Zyban) and Varenicline (brand name Chantix) are non-nicotine treatments for smoking cessation that have been approved by the FDA in the United States. E-cigarettes are another new product that is helping people kick their nicotine addiction.
Depending on the user's preference, e-cigarettes can either contain nicotine or be nicotine-free. It is anticipated that the growing demand for electronic cigarettes and nicotine de-addiction products will drive growth in the market for smoking cessation and nicotine de-addiction products. Around 700,000 people were using electronic cigarettes in 2012, but that number is expected to rise to 3.6 million in 2019, then drop to 3.2 million in 2020 and then climb back up to 3.6 million in 2021.
Market Segmentation
Product
- Product (with nicotine)
- OTC Products
- E-cigarettes
- Nicotine Gums (NRT)
- Nicotine Patches (NRT)
- Nicotine Lozenges (NRT)
- Nicotine Tablets (NRT)
- Prescription Products
- Nicotine Sprays (NRT)
- Nicotine Inhalers (NRT)
- Product (without nicotine)
- Prescription Products
- Zyban
- Chantix/Varenicline
- Nicorette Buccal
Distribution Channel
- Online
- Company Websites
- E-commerce Websites
- Offline
- Hospital Pharmacies
- Local Medical Stores
- Supermarkets
- Others
Key Topics Covered:
1. Preface
2. Executive Summary
3. Smoking Cessation and Nicotine De-Addiction Products Market: Business Outlook & Market Dynamics
4. Smoking Cessation and Nicotine De-Addiction Products Market: By Product, 2020-2030, USD (Million)
5. Smoking Cessation and Nicotine De-Addiction Products Market: By Distribution Channel, 2020-2030, USD (Million)
6. North America Smoking Cessation and Nicotine De-Addiction Products Market, 2020-2030, USD (Million)
7. UK and European Union Smoking Cessation and Nicotine De-Addiction Products Market, 2020-2030, USD (Million)
8. Asia Pacific Smoking Cessation and Nicotine De-Addiction Products Market, 2020-2030, USD (Million)
9. Latin America Smoking Cessation and Nicotine De-Addiction Products Market, 2020-2030, USD (Million)
10. Middle East and Africa Smoking Cessation and Nicotine De-Addiction Products Market, 2020-2030, USD (Million)
11. Company Profile
Companies Mentioned
- Pfizer Inc.
- GlaxoSmithKline plc (GSK)
- Cipla Ltd.
- Johnson & Johnson (J&J)
- ITC Ltd.
- Takeda Pharmaceutical Company Ltd.
- Alkalon A/S
- 22nd Century Group Inc.
- Strides Pharma Science Ltd.
- JUUL Labs Inc.
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