Nicotine Replacement Therapy Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

The nicotine replacement therapy market is expected to witness a CAGR of ~14% during the forecast period. Nicotine replacement therapy (NRT) is a method of assisting people in quitting smoking. Nicotine is delivered in small doses in the form of inhalers, lozenges, patches, sprays, or gum, while other toxins contained in tobacco cigarettes are avoided. In addition, NRT can help relieve some of the physical withdrawal symptoms so that you can focus on the psychological aspects of quitting. There are various alternative nicotine sources (gum, transdermal patch, nasal spray, inhaler, and sublingual tablets/lozenges) have been incorporated into tobacco cessation programs. Recent research is more focusing on rapid delivery of nicotine (Nicotine preloading, true pulmonary inhaler) and immunological approaches (nicotine vaccine) to tackle nicotine dependence. Furthermore, using smokeless tobacco can lead to nicotine addiction that contains 28 cancer-causing agents (carcinogens). It increases the risk of developing cancer of the oral cavity that is strongly associated with leukoplakia and recession of the gums.

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According to UnivDatos Market Insights (UMI)’ research report “Nicotine Replacement Therapy Market”, the market is expected to witness a CAGR growth of around 14% during the forecast period 2021-2027F. This can be mainly attributed to an increase in government funding coupled with the rising number of research. 

Based on type, the nicotine replacement therapy market is segmented into gums, patches, lozenges, inhalers, and others. In 2020, The gums category is anticipated to witness a considerable growth rate over the forecast period. Therefore, nicotine gum is a form of therapeutic nicotine that are easily available without a prescription to help reduce the nicotine consumption that is received daily from cigarettes. And the growth of this category during the forecast period is increased due to the increasing sales of nicotine gums.

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Based on distribution channel, the nicotine replacement therapy market is categorized into online pharmacies and offline pharmacies. In 2020, the offline pharmacy category dominated the nicotine replacement therapy market and is expected to grow significantly in the upcoming years. The growth of this category is due to the rising number of patients in hospitals and smokers’ preference to purchase NRT products from nearby retail stores. In addition, the rising prevalence of tobacco addiction among teenagers is fueling demand for NTR products, which will drive the nicotine replacement therapy market during the forecast period.

North America to witness extensive growth

For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. The adoption rate of NRT products is expected to increase during the forecast period owing to a well-established healthcare infrastructure coupled with supportive government policies and rising awareness regarding the ill effects of tobacco consumption among the population. For instance, in U.S., an estimated 30.8 million adults in the U.S. currently smoke cigarettes. More than 16 million Americans live with a smoking-related disease. Moreover, according to the Centers for Disease Control and Prevention (CDC), Nearly 40 million U.S. adults still smoke cigarettes, and an estimated 2.55 million middle and high school students use at least one tobacco product, including e-cigarettes.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the nicotine replacement therapy market are Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, AstraZeneca, Johnson & Johnson Private Limited, Merck & Co. Inc., Cipla Inc. along with partnerships have been undertaken by these players to boost their presence in different regions. 

“Nicotine Replacement Therapy Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1.     By Type (Gums, Patches, Lozenges, Inhalers, Others)

2.     By Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy)

3.     By Company (Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, AstraZeneca, Johnson & Johnson Private Limited, Merck & Co. Inc., Cipla Inc.)

Key questions answered in the study:

1.     What are the current and future trends of the nicotine replacement therapy market industry?

2.     How the industry has been evolving in terms of technology and application?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the nicotine replacement therapy market industry?

5.     What is the customer orientation, purchase behavior, and expectations from the nicotine replacement therapy market suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 NICOTINE REPLACEMENT THERAPY MARKET COVID-19 IMPACT

6 NICOTINE REPLACEMENT THERAPY MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY DISTRIBUTION CHANNEL

9 MARKET INSIGHTS BY REGION

10 NICOTINE REPLACEMENT THERAPY MARKET DYNAMICS

11 NICOTINE REPLACEMENT THERAPY MARKET OPPORTUNITIES

12 NICOTINE REPLACEMENT THERAPY MARKET TRENDS

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

17 COMPANY PROFILED

18 DISCLAIMER 

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