The global nicotine de-addiction products market size is anticipated to showcase profound growth in the forthcoming years due to raising awareness of tobacco addiction. This information is published by Fortune Business Insights in its report, titled “Nicotine De-Addiction Products Market, 2023-2030“. The market is expected to develop as more consumers are aware of different types of tobacco substitute products on the market, such as de-addiction chewing gums, inhalers, pills, and other solutions. The availability of locally produced smoking de-addiction treatments is projected to boost the utilization of such items.
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List of Key Players Profiled in the Market:
- GlaxoSmithKline Plc.
- Pfizer Inc.
- Perrigo Company
- Honeyrose Products Ltd.
- Novartis International AG
- Johnson & Johnson
- Revolymer PLC
- Cipla Ltd.
- McNeil AB
- Rusan Healthcare Private Ltd.
Market Segmentation
Based on product type, the market for nicotine de-addiction products is segmented into nicotine replacement therapy products, drug therapy products, nicotine sublingual tablets, inhalers, and others. By distribution channel, the global market is segmented into hypermarkets & supermarkets, pharmacy stores, online stores, duty-free shops, and others. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report has details on all the latest technology available in the nicotine de-addiction products sector. The technological advances made in the industry has been highlighted and the potential opportunities associated with that. The report establishes the challenges of the market and advices various solution to them. It also mentions the growth stimulating factors, the restraints, consumption pattern, distribution channels, and all other vital information associated with the market.
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Drivers & Restraints
Increasing Consumption of Tobacco Smoking to Aid Market Growth
Consumer demand for tobacco de-addiction solutions has gone up significantly as people are becoming more aware of the hazards associated with smoking. According to the American Cancer Society, the incidence of new lung cancer-related cases in the U.S. reached 228,820 in 2020.
Furthermore, favorable government support for raising public awareness about the health problems of consuming tobacco products on a regular basis is projected to drive nicotine de-addiction products market growth in several nations. To combat tobacco addiction in India, the Government of India (GOI) introduced Nirmal, a nicotine replacement gum, in March 2019 as part of its Pradhan Mantri Bhartiya Janaaushadhi Pariyojana (PMBJP).
Regional Insights
Widespread Tobacco Consumption in Asia Pacific to Surge Demand
Asia-pacific is expected to lead the nicotine de-addiction products market share as a large number of tobacco users exist in countries such as India and China. Moreover, the rising awareness of health hazards associated with tobacco consumption along with government support is projected to showcase growth.
North America is predicted to hold a significant market share as consumer preferences in nations such as the U.S. and Mexico are transitioning toward the consumption of plant-based products. This is anticipated to increase demand in the region for various treatments made from extracts of plants such as camellia sinensis, cloves, lobelia, and others.
Competitive Landscape
Prominent Companies Perpetuate Production Standards to Improve Market Position
The market landscape of nicotine de-addiction products has the presence of few dominant players and is consolidated in nature. Most of them are highly invested in research and development to improve their product and increase its efficiency. Moreover, these companies are consistent with their quality to keep up with the various regulations across different nations. In addition to this, these companies as strategic marketing their product across physician networks and hospitals to generate high revenue for their product.
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Industry Development:
- July 2020: Reddy’s Laboratories, an Indian pharmaceutical business, has introduced nicotine polacrilex lozenges over-the-counter as one of their nicotine de-addiction products in the United States.
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