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Nicotine De-addiction Product Sales Grow at over 10% in 2018, US Remains the Largest Market

01-09-2019 11:28 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Fact.MR

Nicotine De-addiction Product Sales Grow at over 10% in 2018, US

Governmental organizations across the world have introduced laws and regulations on marketing and distribution of smoking cessation products to address the public health concerns associated with tobacco use.

Nicotine de-addiction product sales are likely to grow at a steady pace, as quit smoking and smoking cessation gain momentum. E-cigarettes are increasingly losing favor, owing to lack of empirical support from researchers on their effectiveness. Vaping, on the other hand, is gaining popularity, even though it is yet to be officially categorized as a nicotine de-addiction or smoking cessation technique. These insights are according to a new research by Fact.MR, which tracks historical data and future projections.

According to the study, demand for nicotine deaddiction products is likely to grow at 12% y-o-y in 2018. The gains in nicotine de-addiction product sales are on account of a combination of factors, including growing health and awareness trend.

Request 100 Page Sample Report Now: https://www.factmr.com/connectus/sample?flag=S&rep_id=2372 

Although smokers are unanimous in acknowledging the risk they put themselves and those around them, the awareness has not translated into quitting smoking altogether. Although smoking is becoming less popular in a number of countries, the total number of smokers is still over a billion – or roughly 1 in 6 people. Smoking continues to be a major healthcare concern, not only for smokers, but also for those inhale the smoke.

According to the report, demand for nicotine and smoking cessation products is likely to remain lower in developing countries vis-à-vis developed countries. The study found that willingness to spend on nicotine de-addiction and smoking cessation products was higher in developed countries as compared to developing countries.

Speak with an Analyst to learn more (methodology) @ https://www.factmr.com/connectus/sample?flag=RM&rep_id=2372 

The report finds that regulations on nicotine de-addiction and smoking cessation products remain a key influencing factors in the market. In North America, Family Smoking Prevention and Tobacco Control Act (US) and Tobacco and Vaping Products Act (TVPA) regulated the sales of vaping and e-cigarettes. These guidelines regulate various aspects of smoking cessation and nicotine de-addiction products – from manufacturing to distribution.

The report finds that growth of nicotine de-addiction products market will also be positively influenced by growing focus on enacting smoke-free air laws. Bans pertaining to smoking in public places are also influencing sales of nicotine deaddiction products market.

Although the outlook on nicotine deaddiction products market remains positive, concerns about side-effects associated with the use of these products continue to stymie growth. Further, their effectiveness in reducing or quitting smoking altogether has been ambiguous, leading to lack of confidence among smokers. Reported incidents of diarrhea, skin & eye irritation, and behavior changes are among the key challenges for their widespread adoption.

Speak To Research Analyst For Detailed Insights: https://www.factmr.com/report/2372/smoking-cessation-products-market 

The research study also tracks the competitive landscape of the nicotine deaddiction products market. The recent developments, as well as business and product strategy of key players is mentioned in the research study. Some of the leading players profiled in the research study include Johnson & Johnson Inc., Pfizer, Inc, GlaxoSmithKline plc, Imperial tobacco ltd., Perrigo Company plc, ITC Limited, Cipla Ltd., Fertin Pharma, Reynolds American Inc., and Alkalon A/S.

According to the report, the US and EU5 will continue to account for the maximum sales of nicotine de-addiction products. Sales in these markets will be pushed by a combination of growing health and wellness awareness, combined with government initiatives on reducing the menace of smoking.

Gains are also likely to be significant in Asia Pacific, however, average spend on nicotine deaddiction products in APAC countries is likely to be significantly lesser than North America and Europe. Sensing the emerging opportunities in APAC, global manufacturers are focusing on strengthening their presence. Further, local players in APAC are catering to the domestic demand, with cost-effective offerings. Although APAC currently is a less attractive market as compared to North America and EU5, it is likely to grow at a health rate in the future.

Get Access to Report @ https://www.factmr.com/checkout/2372/S 

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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Rohit Bhisey
Fact.MR
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Suite 400
Rockville, MD 20852
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Email: sales@factmr.com
Web: https://www.factmr.com/
Blog: https://factmrblog.com/

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