Research details developments in the Smoking Cessation Products Market with growth by 2028 || Key Players - Johnson & Johnson Inc., GlaxoSmithKline plc, Pfizer Inc., Perrigo Company plc, Cipla Ltd.

The Fact.MR market report on the smoking cessation products market features a detailed analysis of the market, including information on the most interesting developments in the smoking cessation products market across the globe. The report provides an overview of the smoking cessation products market, analysis of the latest trends in the smoking cessation products market, along with a section with information about new avenues of growth for manufacturers and distributors in the smoking cessation products market.

A prevalence of around 251 million patients with COPD was report across the globe in 2016 by a WHO report, and it will become the third leading cause of death by 2030. As smoking tobacco is the primary cause of COPD, manufacturers in the smoking cessation products market are promoting the use of various types of smoking cessation products to prevent it.

Additionally, consumers are becoming aware that there is no cure for the life-threatening disease, thereby, the growing needs for preventing COPD is boosting adoption of smoking cessation products. Offering personalized smoking cessation products to facilitate COPD management for patients can help smoking cessation products market players to improve sales and gain an edge in the smoking cessation products market in coming years.

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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 and use of smoking cessation products such as electronic cigarettes.

The U.S. Food and Drug Administration (FDA) has amended the Family Smoking Prevention and Tobacco Control Act and declared that vaping products and smoking cessation products, such as e-cigarettes, are subject to the Federal Food, Drug, and Cosmetic Act. The Government of Canada also enacted the Tobacco and Vaping Products Act (TVPA), which regulated manufacturing and sales of various smoking cessation products, including e-cigarettes, in Canada. Also, the UK Government introduced new rules under the Tobacco Products Directive 2014/14/EU (TPD) to regulate smoking cessation products, such as nicotine-containing electronic cigarettes and refill containers.

Developed Regions Account for Over 80% Revenue Share in the Smoking Cessation Products Market

Though smoking cessation products are ubiquitous across the globe, the regional markets for smoking cessation products in North America and Europe are the most lucrative markets for stakeholders, according to the Fact.MR study. The study finds that manufacturers in smoking cessation products markets in the U.S. and Europe fathom that tobacco smoking has reached epidemic proportions in these regions, which is reflected in the recent developments in their vital strategies.

Growing demand for smoking cessation products in North America and Europe can be underpinned by the alarming rise in adoption of tobacco products, especially across a young-adult demographic in these regions. According to a survey on Adult Smoking Habits in the UK: 2017, people aged 25 to 34 years had the largest proportion of current smokers in the UK. In the U.S., over 38 million adults smoked cigarettes in 2016 and the largest increase in quitting was among a young-adult demographic in the country, according to the CDC.

To capitalize on the increased willingness of the millennial population in developed countries in North America and Europe, leading manufacturers in the smoking cessation products market are likely to concentrate most of their efforts into these regions in the foreseeable future.

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