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A00370 | Pages: 310 | Charts: 62 | Tables: 167 |
The global smoking cessation and nicotine de-addiction products market size was valued at $20 billion in 2021, and is projected 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. According to the Center for Disease Control and Prevention (CDC), the smoke consist of many harmful chemicals and cigarettes smoking can causes various chronic disease like lung cancer, COPD, asthma, etc. In addition, there are about 30.8 million adults in the U.S. who currently smoke cigarettes and more than 16 million Americans have the smoking-related disease. As the normal cigarette consist of 90% of tobacco, which can cause a severe damage to the health, there has been witnessed an increasing the shift of the smokers toward e-cigarettes which are battery-powered devices that generate an inhaled aerosol.
[COVIDIMPACTSTATEMENT]
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Additionally, various initiatives taken by the government, increase in the awareness about the diseases related to the smoking and various anti-smoking campaign organized by leading organizations have made a larger shift of the smokers towards smoking cessation products. This factors causes the rise in the demand for the smoking cessation and nicotine de-addiction products and further leads to the smoking cessation and nicotine de-addiction products market growth. Additionally, the top market players are investing on a huge rate in the development and discovery of these products, which leads to the invention of various advanced smoking cessation products which further attracts the youth smokers and propels the market growth.
National Center for Biotechnology Information, NCBI, states that NRTs increase the rate of quitting tobacco by 50 to 70%, in addition to this, in UK the license for some nicotine replacement therapies has been extended to allow longer term use for those who are not willing or able to quit immediately, thereby helping them to cut down smoking and facilitating the increase in the sales of the cessation products around the globe.
Also, in 2018, an estimated 8.1 million U.S. adults were electronic cigarette (e-cigarette) users. Additionally, it is seen that youth is preferably turning towards e-cigarettes, which showed the increase in the sale of this segment and caused the growth of the market. However, high cost of these therapies can lead to the decrease in the purchase of these products which can ultimately hinder the growth of the market to some extent.
Impact of COVID-19 on Smoking Cessation And Nicotine De-Addiction Products Market
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 smoking cessation and nicotine de-addiction products market 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 use and other health-related behaviors of the smokers. Smokers in several nations have increased their tobacco consumption since the epidemic. On the other hand, there has also been a surge in interest in stopping, quit attempts, and successful cessation rates which further caused the prevalence of factors affecting the growth of the smoking cessation and nicotine de-addiction products market share. According to WHO, smoking is associated with increased severity of disease and death in hospitalized COVID-19 patients, which caused a large number of population to quit smoking and creating prevalence of the growth factor for the smoking cessation and nicotine de-addiction products market size.
The smoking cessation and nicotine de-addiction products market is segmented into Product, Form and Distribution Channel.
The market is segmented on the basis of product type, form, distribution channels and region. On the basis of product type, the market is segmented into nicotine replacement therapy products, drug therapy and e-cigarettes. The nicotine replacement therapy products are further segmented into nicotine lozenges, nicotine gums, nicotine sprays and nicotine inhalers. On the basis of form, the market is segmented into gum, inhaler, tablet and others. On the basis of distribution channels, the market is segmented into hospital pharmacies, online providers and drug stores & retail pharmacies.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
By product type, the market is segmented into nicotine replacement therapy products, drug therapy and e-cigarettes. The e-cigarettes segment dominated the market in 2021 and with a high CAGR whereas, the nicotine replacement therapy products segment is expected to grow at the highest CAGR during the forecast period.
[PRODUCTGRAPH]
Depending on the form, the market is divided into gum, inhaler, tablet and others. The gum segment generated the maximum revenue in 2021, and is expected to be the fastest growing segment during the forecast period with a CAGR, owing to rise in the demand for the nicotine replacement therapy products and rising awareness about quit smoking.
[FORMGRAPH]
Depending on distribution channels, the market is divided into hospital pharmacies, online providers and drug stores & retail pharmacies. . The drug store & retail pharmacies segment dominated the market in 2021, with a CAGR and the online providers segment is expected to grow at the highest CAGR, during the forecast period, owing to rise in digitalization, ease of purchase, faster delivery of products and accessibility of smartphones
[DISTRIBUTIONCHANNELGRAPH]
Region wise, in smoking cessation and nicotine de-addiction products industry, North America acquired a major share, owing to the presence of key players, rising government initiatives, well-developed healthcare infrastructure, and rising prevalence of viral and bacterial related infectious diseases. The region is witnessed the growth of CAGR in 2021. However, Asia-Pacific is expected to witness the highest growth rate for the smoking cessation market throughout the forecast period with a CAGR.The major factors that drives the growth of the smoking cessation and nicotine de-addiction products market share are the rising number of population who are quitting smoking and free initiative by government and organization’s anti-smoking initiatives, shift of the youth towards the e-cigarette, the approved smoking cessation drugs and rise in market players investing in research and development are leveraging smoking cessation products market.
[REGIONGRAPH]
The major players profiled in the smoking cessation and nicotine de-addiction products industry are British American Tobacco Inc., 22nd Century group Inc., Cipla Ltd., Dr. Reddy’s Laboratories Ltd, GlaxoSmithKline PLC (Haleon), Imperial Brands Plc. (Fontem Ventures), Johnson and Johnson (McNeil Consumer Health), Njoy Company, Pfizer Inc., Perrigo Company Plc., Rusan Pharma, Zydus Cadila.
Key Market Segments
Key Market Players