A recent report published by Infinium Global Research on nicotine
gum market provides in-depth analysis of segments and sub-segments in the
global as well as regional nicotine gum market. The study also highlights the
impact of drivers, restraints, and macro indicators on the global and regional
nicotine gum market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global
nicotine gum market. According to the report, the global nicotine gum market is
projected to grow at a CAGR of 3.82% over the forecast period of 2019-2025.
Tobacco kills more than 8 million people every year, worldwide.
Out of these, around 7 million people are direct smokers while the rest of the
people are passive smokers. Smoking is the major cause of cancers. Quitting
smoking is difficult for some people as it has become their habit. Smoking
cessation therapy helps smokers to get rid of smoking. In the smoking cessation
therapy nicotine replacement therapy (NRT) products are used. Nicotine gums are
one of the extensively used NRT product around the world to help quit smoking.
The nicotine gum market is highly competitive and fragmented in nature. Many of
the local drug manufacturers compete with the well-established players in the
market. The key market players in the nicotine gum market include Novartis
Consumer Health Inc, GlaxoSmithKline plc. Johnson and Johnson, British American
Tobacco plc and others are focusing on broadening the product portfolio by
adding new flavors and innovative products.
Rise in awareness regarding health hazards associated with smoking
is the major driving factor for the nicotine gum market, globally. Smoking is
one of the main reasons for lung cancer. Other cardiac and berating disorders
are also caused by smoking. Moreover, the rise in smoking cessation campaigns
is anticipated to boost the market growth. Government organizations and several
NGOs are taking initiatives to spread awareness about health issues related to
smoking. Furthermore, the increase in spending by the government in developing
countries for better health care conditions is contributing to the growth of
the market. Additionally, an increase in the number of people actively quitting
smoking is further propelling the nicotine gum market. However, the side
effects of currently available NRT products are hindering the market growth.
In terms of region, the global nicotine gum market is divided into
four regions including, North America, Europe, Asia-Pacific, and Rest of the
World. North American region dominated the global nicotine gum market owing to
the high number of smokers, the government initiatives to encouraging people to
quit smoking through several anti-smoking campaigns coupled with the rise in a number
of new product launches in the region. However, the nicotine gum market in the
Asia-Pacific is expected to grow at the highest rate owing to the rise in
health awareness, increase in population, and development of public health care
systems in countries such as China, India, and South Korea.
The report on global nicotine gum market covers segments such as
dosage, and distribution channel. On the basis of dosage, the sub-markets
include 2 Mg, 4 Mg and 6 Mg. On the basis of the distribution channel, the
sub-markets include retail stores, retail pharmacies and online retail.
The report provides profiles of the companies in the market such
as Novartis Consumer Health Inc, GlaxoSmithKline plc. Johnson and Johnson,
British American Tobacco plc, ITC Limited, Cambrex Corporation, Pfizer, Inc.,
Perrigo Company plc, Takeda Pharmaceutical Co., Ltd., and Other Companies.
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 nicotine gum
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. 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.