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.
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