According to a new market report published by Transparency Market
Research "Smoking Cessation and Nicotine De-addiction Products Market
(Nicotine Gums, Patches, Lozenges, Inhalers, Sprays, Sublingual Tablets, Zyban,
Chantix/Champix, E-cigarettes)- Global Industry Analysis, Size, Share, Growth,
Trends and Forecast, 2013 - 2019," the global smoking cessation and
nicotine de-addiction productsmarket was valued at USD 5.1 billion in 2012 and
is expected to grow at a CAGR of 18.7% from 2013 to 2019, to reach an estimated
value of USD 16.02billion in 2019.
Smoking cessation is a process of discontinuing smoking achieved by the
use of medication. It may also be coupled with assistance of healthcare
professionals, counselling and psychotherapy. The demand for smoking cessation
products is high and is continuously rising as it caters to the needs of people
addicted to nicotine and rising healthcare awareness amongst the smokers. The
global smoking cessation and nicotine de-addiction products market is segmented
on the basis of product types available in the market. These include nicotine
replacement therapy (NRT) products, drug therapy and e-cigarettes. This market
is sustained by large number of people wanting to quit smoking.
Browse Global Smoking Cessation and Nicotine
De-addiction Products Market Report with Full TOC at http://www.transparencymarketresearch.com/smoking-cessation-nicotine-de-addiction-products.html
NRT products for smoking cessation include nicotine containing gums,
patches, lozenges, sublingual tablets, inhalers and mouth sprays. The market
for NRT products is dominated by the revenue of nicotine gums, patches and
lozenges. Nicotine gums are one of the most widely used NRT products, and the
market for these was valued at USD 995.5 million in 2012. The nicotine patches
and lozenges market is driven by its ease of use and non-prescription sale.
Nicotine sprays and inhalers on the other hand are less preferred due to their
high cost and less popularity. However, increased promotional activities and
effective distribution is expected to boost their market growth in the near
future. The major players in the NRT products market include Johnson and
Johnson, GSK, Cipla and Novartis.
Smoking cessation drug therapy market is expected to witness a decline
in revenue across the globe, by the end of the forecast period due to patent
expiration of the key revenue generating drugs Zyban (bupropion) in 2013 and Chantix/Champix (varenicline) in
2018 (which will impede market growth toa lower extent). The loss of patent and
marketing exclusivity will lead to a drastic reduction in revenue and in turn
provide an opportunity to generic manufacturers to launch their own versions of
these brands. The leading players in the drug therapy market are GSK and
Pfizer.
The e-cigarettes segment is expected to witness the fastest growth, and
thus, will boost growth of the global smoking cessation and nicotine
de-addiction products market during the forecast period. E-cigarettes have proved
to be a better alternative to cigarettes whose smoke contains various harmful
gases and cause dreadful diseases such as cancer. With the exceptional growth
and popularity among the younger population, the market has posed a challenge
to other smoking cessation products as well as to the tobacco cigarette
business. The global e-cigarettes market was worth USD 1,662.5 million in 2012.
Lorillard, NJOY and VMR products LLC are some of the major players in the
e-cigarettes market.
Geographically, North America dominates the global smoking cessation and
nicotine de-addiction products market. The North American market for smoking
cessation products was valued at USD 1,958.8 million in the year 2012. An
increase in cigarette costs is expected to reduce smoking rates significantly,
especially in adolescents. According to the CDC, a 10% rise in cigarettes cost
can cut around 4% of young adults craving cigarette consumption. The European
market held the second largest share worldwide, in 2012. WHO reports that European
countries have widely adopted bans on tobacco advertising, promotion on
national/international television and radio, billboards and outdoor
advertising, local magazines and newspapers.However, some countries in Europe
still lack in implementing measures of the WHO Framework Convention on Tobacco
Control (FCTC).
Raising taxes to increase the cost of cigarettes can reduce tobacco use,
cut smoking rates, and ultimately save lives. Smoking prevalence has been
varying across the globe with many developing countries witnessing rapid
increase in the prevalence rate, which will create huge health problems for the
future if left unchecked. Demand for lifestyle drugs in emerging countries is
witnessing rapid growth due to factors including growing health awareness,
increase in population, and development of public healthcare systems, among
others. This is driving people towards quitting smoking by adopting smoking
cessation products. A study in the Eastern Mediterranean Health Journal,
published in 2012, reported that nicotine Containing medications are not
available in one third of the developing countries, which include the Middle
East and Africa. Moreover, accessibility of non-nicotine containing medications
such as bupropion and varenicline is also extremely low. Increased attention
and resources are needed to address lack of smoking cessation services
as well as access to nicotine containing medications in these regions.
The global smoking cessation and nicotine de-addiction products market
is segmented as follows:
Smoking Cessation and
Nicotine De-Addiction Products Market, by Product Type
·
Nicotine Replacement Therapy Products
·
Nicotine Gums
·
Nicotine Transdermal Patches
·
Nicotine Lozenges
·
Nicotine Sprays
·
Nicotine Inhalers
·
Nicotine Sublingual Tablets
Drug Therapy
·
Zyban (bupropion)
·
Chantix/Champix (varenicline)
E-cigarettes
Browse Smoking Cessation and Nicotine De-addiction
Products Market Report at http://www.transparencymarketresearch.com/smoking-cessation-nicotine-de-addiction-products.html
Smoking Cessation and
Nicotine De-Addiction Products Market, by Geography
·
North America
·
Europe
·
Asia-Pacific
·
Rest of the World (RoW)
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Market Research Reports @ http://www.transparencymarketresearch.com/pharmaceutical-market-reports-1.html
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