Transparency Market Research Report Added “Smoking Cessation and Nicotine De-addiction Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023” to its database.
Albany, NY -- (SBWIRE) -- 06/13/2017 -- Global Smoking Cessation and Nicotine De-addiction Products Market: Overview
Smoking cessation involves the use of products, methods, and programs independently or in a combination to curb the urge to smoke. Smoking cessation products that are approved by regulatory agencies such as FDA can increase chances of success of quitting smoking. Some smoking cessation products are known as nicotine replacement therapy (NRT) as they contain varying amounts of nicotine. This includes nicotine chewing gums, nicotine patches, nasal sprays, and oral medications.
Smoking cessation interventions, which includes the use of smoking cessation and nicotine de-addiction are a cost-effective way of long-term health benefits.
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Global Smoking Cessation and Nicotine De-addiction Products Market: Trends and Opportunities
The rising awareness amongst smokers that nicotine addiction that can cause lung cancer, respiratory problems, and cardiac diseases have triggered the sales of smoking cessation and nicotine de-addiction products. Several governments across the world are organizing campaigns and using media for raising awareness about the ill-effects of smoking. Furthermore, availability of nicotine replacement therapy products through retail and e-commerce is also fuelling the growth of this market.
Besides this, non-profit organizations and de-addiction camps are using smoking cessation and nicotine de-addiction products to help smokers quit nicotine. The retail sales of these products have also been effective for helping the nicotine addicts quit smoking. For instance, the introduction of e-cigarettes has brought a radical change regarding the perception of de-addiction amongst several smokers.
On the other hand, lack of awareness about the availability of smoking cessation products and insufficient distribution channels in developing countries are impeding the market's growth. For instance, Nicorette gums have been available in India only since 2010.
E-cigarettes are the most popular among a range of smoking cessation and nicotine de-addiction products. This product segment is expected to rise at a robust CAGR of 20.5% from 2015 to 2023. E-cigarettes operate on a battery that controls the amount of nicotine provided to the user by means of heating and vaporizing. The unique quality of the product to provide the same feeling as smoking nicotine cigarette with minimal health risk to the user is driving sales of this product.
Champix is emerging as another significant product in the smoking cessation and nicotine de-addiction market. Champix is a prescription drug that helps smokers suppress their urge to smoke.
Global Smoking Cessation and Nicotine De-addiction Products Market: Regional Outlook
Across major part of the world, smoking cessation is on the social issues agenda of governments, with North America leading the way. The region contributed the major revenue of US$3.25 bn to the overall market in 2015. Progressing at a CAGR of 12.9% between 2015 and 2023, the valuation of the North America smoking cessation and nicotine de-addiction market is expected to reach US$8.59 bn by 2023.
In North America, the rising number of smokers is fuelling growth of the market for smoking cessation and nicotine de-addiction products. Amongst all products, e-cigarettes are expected to display the leading demand as they can be used in non-smoking areas. Moreover, cost-effectiveness of e-cigarettes and their increasing use in place of conventional tobacco cigarettes is expected to boost their demand in the coming years.
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Global Smoking Cessation and Nicotine De-addiction Products Market: Competitive Outlook
Some of the leading players operating in the global smoking cessation and nicotine de-addiction products market are NJOY, GSK, VMR Products LLC, Lorillard Inc., Johnson & Johnson, Pfizer, and Nicotek LLC.
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