Report Ocean introduces a fresh report examining the ‘Global Smoking Cessation and Nicotine De-addiction Products Market’, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
The global smoking cessation and nicotine de-addiction products market is expected to expand at a compound annual growth rate (CAGR) of 20.2%, leading to a global revenue of USD 39.51 Bn by 2023, from USD 15.77 Bn in 2018.
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Smoking cessation and nicotine de-addiction products are devices and therapies used for treating symptoms associated with the discontinuation of nicotine consumption. According to the World Health Organization (WHO), tobacco kills around 6 Mn people each year globally, of which, almost 5 Mn deaths are because of direct tobacco use. Nicotine also causes critical ailments like cardiovascular diseases, cancer, etc. Owing to the detrimental effects of tobacco on health, governments in developed countries are encouraging smokers to refrain from consuming tobacco products.
Products segment insights:
The global nicotine replacement therapy (NRT) market had the lowest market share (about 16%) in 2018, mainly due to the reluctance to adopt smoking cessation products, and lack of awareness about nicotine de-addiction products. On the other hand, the e-cigarettes segment is anticipated to expand at a higher CAGR of 22.0% during the forecasted period (2018-2023). This high growth can be attributed to e-cigarettes ability to replicate the same sensation as smoking a conventional cigarette while minimizing the health risks associated with the latter. The increasing adoption of e-cigarettes is because of the availability of a variety of flavors and nicotine concentrations.
Regional insights:
The Americas have been leading the market with its innovations in smoking cessation products, and account for approximately 42% of the global market. However, Asia-Pacific is expected to have the highest growth rate during the forecast period due to high tobacco consumption in this region, coupled with rising disposable income.
Companies covered:
1. NJOY
2. CIPLA
3. Johnson & Johnson
4. GlaxoSmithKline
5. Pfizer
6. Imperial Brands PLC
7. Nicotek, LLC.
8. Japan Tobacco Inc.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
Some Questions Answered in the Smoking Cessation and Nicotine De-addiction Products Market Report:
- What is the projected size of the global Smoking Cessation and Nicotine De-addiction Products market in 2032, and what growth rate is expected?
- What are the primary drivers of growth in the global Smoking Cessation and Nicotine De-addiction Products industry?
- What are the major market trends that are affecting the expansion of the Smoking Cessation and Nicotine De-addiction Products market?
- What obstacles must be overcome in order to achieve sustained growth in the Smoking Cessation and Nicotine De-addiction Products market?
- What opportunities and threats do vendors in the global Smoking Cessation and Nicotine De-addiction Products market face?
- What are the raw materials and manufacturing equipment used in the production of Smoking Cessation and Nicotine De-addiction Products, and what is the manufacturing process?
- What are the different types and applications of Smoking Cessation and Nicotine De-addiction Products, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Smoking Cessation and Nicotine De-addiction Products market?
- What factors are driving the growth of the Smoking Cessation and Nicotine De-addiction Products market in the top regions worldwide?
- Who are the major players in the global Smoking Cessation and Nicotine De-addiction Products market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Smoking Cessation and Nicotine De-addiction Products market?
- What are the main findings of a five forces analysis of the global Smoking Cessation and Nicotine De-addiction Products market?
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