Transparency Market Research Report Added "Smoking Cessation and Nicotine De-addiction Products Market" to its database.
Albany, NY -- (SBWIRE) -- 02/25/2015 -- Smoking Cessation and Nicotine De-addiction Products Market Estimated to Value USD 16.02 Billion Globally by 2019
According to the report "Smoking Cessation and Nicotine De-addiction Products Market (Nicotine Gums, Patches, Lozenges, Inhalers, Sprays, Sublingual Tablets, Zyban, Chantix/Champix, E-cigarettes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" ,the global market for Smoking Cessation and Nicotine De-addiction Products is estimated to grow at the rate of CAGR 8.7% in the forecasted period of 2013 to 2019 and reach a value of USD 16.02billion in 2019. This market was valued at USD 5.1 billion in 2012.
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Smoking is a global epidemic and is rapidly penetrating the world at strikingly high rates. It is estimated that there are roughly 1.1 to 1.3 billion tobacco users in the world, a figure that is likely to rise to 1.6 billion over the next two decades.
Tobacco smoke contains over 4000 chemicals of which 250 are known to be fatally harmful to humans. At least one person dies every 6 seconds from a tobacco related disease, which means, at least 10 people per minute die of a disease acquired due to use of tobacco in the world.
Smoking cessation is the medical terminology for a way to quit smoking through the use of various medicines. This may also involve assistance from healthcare professionals, psychotherapy and counseling. Knowing the risks associated with this addiction, many healthcare organizations as well as the people who wish to quit smoking are continuously adding to the demand for smoking cessation products, which include e-cigarettes, drug therapy and nicotine replacement therapy (NRT) products.
Among these three major segments of the Smoking cessation industry the NRT products, which directly transport nicotine into the users bloodstream by the virtue of flavored inhalers, mouth sprays, nicotine gums, patches, tablets and lozenges, are quite popular. Nicotine gums, especially, had a market value of USD 995.5 million in 2012. Nicotine patches and lozenges are also used quite often used in smoking cessation therapies as these are commonly available without the need of a physician's prescription. Nicotine sprays and inhalers, on the other hand, are less popular due to their high cost. The major players in the NRT product market include Cipla, Novartis, Johnson and Johnson and Glaxo Smith Klien(GSK).
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By the end of the forecast period, the report estimates that the drug-therapy market of smoking cessation is estimated to witness a downfall resulting from license expiration of key drugs in the current market including - Zyban (bupropion) that has already lost its license in 2013 and Chantix/Champix (varenicline) that will have its license expired in 2018. The leading manufacturers in this segment are Pfizer and
In the forecast period, the segment of e-cigarettes is expected to show the highest and fastest growth in the smoking cessation and nicotine de-addiction products market. The popularity of such cigarettes is high amongst young population and it is estimated that this popularity can pose challenge to other smoking cessation products in the market. The market value of this segment was estimated to be USD 1,662.5 million in 2012. The major players in this industry include VMR products LLC, NJOY and Lorillard.
Geographically, North America was found to be the market leader of the global smoking cessation and nicotine de-addiction products market in 2012. This was followed by the European market, which stood at the second position in market share holdings. . The North American market was valued at USD 1,958.8 million in the year 2012.
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