Smoking Cessation and Nicotine De-Addiction Products Market Expected to Reach $54.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Smoking Cessation and Nicotine De-Addiction Products Market," The Smoking Cessation and Nicotine De-Addiction Products Market size was valued at $20 billion in 2021, and is estimated to reach $54.7 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031.

Smoking cessation refers to the act of quitting smoking. Nicotine, an alkaloid, makes people dependent on cigarettes and other smoking products. There are more than 7000 dangerous chemicals found in tobacco smoking that cause or exacerbate pre-existing illnesses such as diabetes, weakened immunity, respiratory illnesses, lungs cancer, cardiovascular issues, cataract, macular degeneration, eyesight loss, tooth or gum diseases, and impotence or infertility.

To overcome this condition, there are many anti-smoking campaigns organized by governments, which further leads to increase in awareness among people about smoking cessation. In addition, growth in number of smokers, smoking-related respiratory illnesses, growth in public anti-smoking campaigns, and expanding awareness of smoking cessation therapies contribute toward the global smoking cessation and nicotine de-addiction products industry.

In addition, every business has been impacted by the unmatched worldwide public health crisis known as COVID-19, and the long-term impacts are expected to have an influence on industry growth during the forecast period. Several changes in consumer demand and behavior, buying habits, supply chain redirection, and significant government initiatives have been seen around the globe. The COVID-19 pandemic has changed the patterns of smoking, other substance uses and other health-related behaviors of the smokers. Smokers in several nations have increased their tobacco consumption since the pandemic. On the other hand, there has also been a surge in interest in stopping, quit attempts, and successful cessation rates, which further caused prevalence of factors affecting growth of the smoking cessation and nicotine de-addiction products market size.

By product type, the market is segmented into nicotine replacement therapy products, drug therapy, and e-cigarettes. The e-cigarettes segment generated maximum revenue in 2021. The nicotine replacement therapy products segment is expected to grow at the highest CAGR during the forecast period, owing to rise in adoption of quit smoking challenges by large population, cost-effectiveness, improved innovation, and various product launches.

Depending on the form, the market is divided into gum, inhaler, tablet and others. The others segment further includes lozenges and sprays. In this smoking cessation and nicotine de-addiction products market trends the gum segment dominated the market in 2021, and is expected to be the fastest growing segment during smoking cessation and nicotine de-addiction products market forecast period, owing to rise in demand for nicotine replacement therapy products, innovations by key market players, and rising awareness about quitting smoking.

Depending on distribution channel, the market is divided into hospital pharmacies, online providers, and drug stores and retail pharmacies. The drug stores and retail pharmacies segment dominated the market in 2021, and the online providers segment is expected to grow at the fastest CAGR, during the forecast period, owing to rise in digitalization, ease of purchase, faster delivery of products and accessibility of smartphones.

North America accounted for majority of the global smoking cessation and nicotine de-addiction products market share in 2021. On the other hand, Asia-Pacific is anticipated to dominate the smoking cessation and nicotine de-addiction products industry during the forecast period. This is attributed to increase in awareness regarding harmful effects of smoking that has forced many people in the region to quit smoking, which, in turn, propels the smoking cessation and nicotine de-addiction market. However, Asia-Pacific is anticipated to witness notable growth, owing to large prevalence of tobacco users in this region and rising rate of users to quit tobacco and smoking.

Key findings of the study

• By product type, in smoking cessation marketthe, e-cigarettes segment was the highest contributor to the market in 2021.
• By form, the gum segment was the highest contributor to the smoking cessation and nicotine de-addiction products market analysis in 2021.
• Depending on distribution channel, the drug stores and retail pharmacies segment was highest contributor in 2021, and the online providers segment is expected to grow at the highest CAGR during the forecast period.
• Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.