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Technavio estimates the smoking cessation and nicotine de-addiction market to grow by USD 18.01 billion between 2020 and 2025, expanding at a CAGR of 11.59% during the forecast period.
The smoking cessation and nicotine de-addiction market is driven by new product launches. The growing concerns over the ill effects caused by the consumption of tobacco is encouraging a large number of people to quit smoking. This has increased the demand for smoking cessation aids, which is driving vendors to introduce new and innovative products to attract consumer interest. For instance, in May 2019, GSK introduced new nicotine lozenges coated with ice mint, targeting smokers who are trying to quit smoking. The launch of such innovative products by vendors is fostering the growth of the market.
In addition, the growing health awareness among consumers about the harmful effects of cigars will further accelerate the market growth. However, health issues associated with smoking cessation products will negatively impact the market growth during the forecast period.
Smoking Cessation and Nicotine De-Addiction Market: Segmentation Analysis
The global smoking cessation and nicotine de-addiction market is analyzed by product (e-cigarette, NRT, and drug therapy) and geography (North America, Europe, APAC, South America, and MEA).
By product, the market witnessed maximum demand for e-cigarettes in 2020. The segment is driven by the introduction of new products and continuous product innovation by vendors operating in the market. The market growth in the segment will be significant during the forecast period. In terms of geography, the market will observe maximum growth in North America during the forecast period. The region currently holds 32% of the global market share. However, the market growth in North America is expected to be slower than the growth of the market in Europe, APAC, and MEA.
Some of key Smoking Cessation and Nicotine De-addiction Players:
British American Tobacco Plc: The company offers a range of smoking cessation and nicotine de-addiction products under the brand name BAT.
Cipla Inc.: The company offers a wide range of smoking cessation and nicotine de-addiction products through e-commerce, high-end grocers and B2B channels, under the brand name Nicotex.
Dr. Reddys Laboratories Ltd.: The company offers a wide range of smoking cessation and nicotine de-addiction products under the brand names Omez, Nise, Ketorol, Stamlo, Razo, and others.
GlaxoSmithKline Plc: Under the brand name GSK, the company offers a range of smoking cessation and nicotine de-addiction products that helps patients to reduce their therapeutic nicotine intake.
Imperial Brands Plc: The company offers smoking cessation and nicotine de-addiction solutions that help in reducing the harm caused by combustible tobacco.
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Smoking Cessation and Nicotine De-addiction Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.59% |
Market growth 2021-2025 |
USD 18.01 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.57 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
North America at 32% |
Key consumer countries |
US, Germany, China, Canada, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
British American Tobacco Plc, Cipla Inc., Dr. Reddys Laboratories Ltd., GlaxoSmithKline Plc, Imperial Brands Plc, Japan Tobacco Inc., Johnson and Johnson Inc., JUUL Labs Inc., Pfizer Inc., and Philip Morris International Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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