Smoking Cessation and Nicotine De-addiction Products Market

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Smoking Cessation and Nicotine De-addiction Products Market (Type - E-cigarettes, Drug Therapy, and Nicotine Replacement Therapies; Distribution Channel - drug Store, Retail Pharmacies, Hospital Pharmacies, and Online Pharmacies): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

  • Published : June, 2022

  • Rep Id : CGP0071

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on the smoking cessation and nicotine de-addiction products market provides an in-depth analysis of segments and sub-segments in the global as well as regional smoking cessation and nicotine de-addiction products market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smoking cessation and nicotine de-addiction products market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global smoking cessation and nicotine de-addiction products market. According to the report, the global smoking cessation and nicotine de-addiction products market is projected to grow at a CAGR of about 15% over the forecast period of 2022-2028.

 

Market Insight

The revenue generated by the market was over USD 20 billion in 2022 and is expected to reach more than USD 47 billion in 2028 and is expected to grow with a CAGR of about 15% over the forecast period 2022-2028. Smoking cessation and nicotine de-addiction is the process of discontinuing tobacco smoking. The habit of tobacco smoking over time can cause physical and psychological addiction. Tobacco contains nicotine, which is a chemical that is dangerous as it causes cancer as well as addicts a person to smoking. Tobacco smoke releases neurotransmitters such as dopamine, glutamate, and gamma-aminobutyric acid (GABA). Smoking is one of the major causes of lung cancer and other respiratory and cardiac diseases. Smokers who give up smoking before 35 years of age have similar mortality rates to those who have never smoked. Tobacco and cigarettes can be better treated with smoking cessation products.


Smoking Cessation and Nicotine De-addiction Products Market

 

Factors such as growing consciousness among cigarette smokers regarding the health disadvantages of smoking, such as lung cancer, cardiac diseases, and other respiratory problems, have propelled global cigarette cessation and nicotine de-addiction products. Initiatives assisted by governments to create awareness regarding the harmful effects of smoking with the help of information brochures, warning labels, discouraging imagery on cigarette packages, television advertisements, and newspapers are also driving the growth of the market. There are also some non-government organizations working to help and educate people to quit smoking and are constantly engaged in reducing the number of customers. This will allow the smoking cessation and nicotine de-addiction products market to increase during the upcoming period. Besides this, the accessibility of a large range of nicotine replacement therapy (NRT) products through retail and online selling platforms is also fuelling the market's growth. However, on the flip side, the high cost associated with smoking cessation products in developing economies is hampering the market's growth. Further, new product innovations are expected to augment the growth of the coil coating market.

 

Among the geographies, the Asia-Pacific region dominates the smoking cessation and nicotine de-addiction products market. As per the World Health Organization, the smoking rate among men in China was 47%, in Indonesia it was 70%, in India it was 42%, and in Japan, it was 33% in 2020. Such a huge prevalence of smoking in Asian countries has exposed them to smoking-related diseases. Thus, these countries are focusing on introducing de-addiction programs and campaigns, which is proving beneficial for the market. Therefore, factors such as the growing number of smokers and raising consciousness about the health hazards connected with smoking are driving the market growth in the Asia-Pacific region. In addition, the European and North American regions have a significant market share owing to increased awareness and high disposable income to purchase smoking cessation and nicotine de-addiction products.

 

Segment Covered

The report on the global smoking cessation and nicotine de-addiction products market covers segments such as type, and distribution channel. On the basis of type, the sub-markets include e-cigarettes, drug therapy, and nicotine replacement therapies. On the basis of distribution channel, the sub-markets include drug store, retail pharmacies, hospital pharmacies, and online pharmacies.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Takeda Pharmaceutical Co., Ltd., Pfizer, Inc., NJOY, Inc., Imperial Tobacco Company of India Limited., Cipla Ltd., Revolymer PLC, Novartis International AG, Mcneil AB, Glaxo Smith Kline PLC, and Others.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the smoking cessation and nicotine de-addiction products market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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