Smoking Cessation and Nicotine De-Addiction Products Market Report 2022: Sector to Reach $54.7 Billion by 2031 at a 10.6% CAGR

DUBLIN, Jan. 19, 2023 /PRNewswire/ -- The "Smoking Cessation and Nicotine De-Addiction Products Market By Product, By Form, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to  ResearchAndMarkets.com's offering.

The global smoking cessation and nicotine de-addiction products market was valued at $19,965.28million in 2021, and is estimated to reach $54,708.87 million by 2031, growing at a CAGR of 10.6% from 2022 to 2031.

Major factors that drive growth of the smoking cessation and nicotine de-addiction products market is the rise in number of people who are quitting smoking and ant-smoking initiatives and campaigns by various governments and private organizations.

Furthermore, shift of adults toward e-cigarettes also serves as a growing factor for the market. The Centers for Disease Control and Prevention (CDC) stated that, 60.2% of youth who used tobacco products have stopped using all these products for one day or longer as they were willing to quit tobacco in 2021.

The World Health Organization (WHO) launched a year-long global campaign for World No Tobacco Day 2021, "Commit to Quit" challenge and published more than 100 reasons to quit tobacco to mark start of the campaign. In addition, free initiatives by governments, increase in consciousness and education among young population and smokers, and approved smoking cessation drugs in the market are leveraging smoking cessation and nicotine de-addiction products market. However, high cost of therapies can lead to decrease in purchase of these products, which can ultimately hinder growth of the market.

Key market players are investing in research and development of innovative solutions and therapies for smoking cessation. One such innovation is e-cigarettes. Normal cigarettes consist 90% tobacco, which is increasing demand of e-cigarette that is a battery-powered device that generates an inhaled aerosol and have very less tobacco.

According to the Centers for Disease Control and Prevention (CDC), cigarette smoking also causes various chronic disease such as lung cancer and chronic obstructive pulmonary disease (COPD). As smoke consists of over 7000 chemicals, with over 70 chemicals known to cause cancer in humans, a rise in the number of chronic ailments propel major companies to introduce innovative nicotine replacement therapy products further driving demand for nicotine replacement therapy products.

Key Market Segments
By Product

• Nicotine Replacement Therapy Products

By Type

• Nicotine Lozenges
• Nicotine Gums
• Nicotine Sprays
• Nicotine Inhalers
• Drug Therapy
• E-cigarettes

By Form

• Gum
• Inhaler
• Tablet
• Others

By Distribution Channel

• Hospital Pharmacies
• Online Provider
• Drug stores and Retail Pharmacies

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• UK
• Italy
• Spain
• Rest Of Europe
• Asia-Pacific
• Japan
• China
• Australia
• India
• South Korea
• Rest Of Asia-Pacific
• LAMEA
• Brazil
• Saudi Arabia
• South Africa
• Rest Of LAMEA

Key Market Players

• British American Tobacco Plc
• 22nd Century group Inc.
• Cipla Ltd.
• Dr. Reddy's Laboratories Ltd.
• GlaxoSmithKline Plc.
• Imperial Brands Plc.
• Johnson and Johnson Inc
• Njoy Company
• Perrigo Company Plc.
• Pfizer Inc.
• Zydus Cadila, Inc.
• Rusan Pharma Ltd

Key Findings of the Study

• By product type, in smoking cessation market the, e-cigarettes segment was the highest contributor to the market in 2021.
• By form, the gum segment was the highest contributor to the smoking cessation and nicotine de-addiction products market analysis in 2021.
• Depending on distribution channel, the drug stores and retail pharmacies segment was highest contributor in 2021, and the online providers segment is expected to grow at the highest CAGR during the forecast period.
• Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW

CHAPTER 4: SMOKING CESSATION AND NICOTINE DE-ADDICTION PRODUCTS MARKET, BY PRODUCT

CHAPTER 5: SMOKING CESSATION AND NICOTINE DE-ADDICTION PRODUCTS MARKET, BY FORM

CHAPTER 6: SMOKING CESSATION AND NICOTINE DE-ADDICTION PRODUCTS MARKET, BY DISTRIBUTION CHANNEL

CHAPTER 7: SMOKING CESSATION AND NICOTINE DE-ADDICTION PRODUCTS MARKET, BY REGION

CHAPTER 8: COMPANY LANDSCAPE

CHAPTER 9: COMPANY PROFILES

For more information about this report visit https://www.researchandmarkets.com/r/yssi9z

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