Future Trends & Forecast of Smoking Cessation & Nicotine De-addiction Market by Manufacturers, Regions, Type and Application, Forecast to 2021| Key Players: Juul Labs, Inc., British American Tobacco Plc., Imperial Brands Plc., Japan Tobacco Inc., Altria G

Global Smoking Cessation & Nicotine De-addiction Market provides a thorough analysis of the industry, with thoughtful observations, statistics, historical data, industry-validated market data, and forecasts based on a suitable set of assumptions and methodology. Global Smoking Cessation & Nicotine De-addiction Market was valued at US$ 18,368.0 Mn in 2020 and is anticipated to grow at a CAGR of 24.5%+ during the forecast period, Owing to Requirement for Smoking Cessation Products such as NRT and E-Cigarettes among Smokers that Help to Quit Smoking. The study also aids in the comprehension of Global Smoking Cessation & Nicotine De-addiction Market dynamics and structure by defining and evaluating market segments, as well as forecasting global market size.

Worldwide there is an upsurge in the number of smokers. The global cigarette market has increased from US$ 699,434.0 Mn in 2019 to US$ 713,662.0 Mn in 2020 with a y-o-y growth of 3.0%. Growth in the number of smokers is the reason of concern across several governments due to increase in cancer and other tobacco related healthcare expenses. All these factors are driving the need for smoking cessation and nicotine de-addiction products such as nicotine replacement therapy (NRT) products and e-cigarettes across the globe.

Worldwide NRT products are approved to help smokers quit smoking. NRT products help consumers to consume nicotine but not the other harmful chemicals in tobacco. Presently, the US Food and Drug Administration (FDA) has approved five forms of NRT products including patch, gum, nasal spray, inhaler and lozenges. This demand for these products is increasing in the U.S. and other North America countries, thereby driving the growth of Smoking Cessation & Nicotine De-addiction Market.

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As tobacco smoking is bad for health, even tobacco companies have started venturing into the smoking cessation & nicotine de-addiction market as they anticipate the industry to grow in the upcoming years. For instance, India based Tobacco Company, ITC Ltd. has launched the Kwiknic brand of nicotine gums in India. These nicotine gums helps nicotine to gradually enter the blood stream as a smoker chews the gum. As quitting smoking results in withdrawal syndrome, these gums help a smoker to intake nicotine and eventually quit smoking.

In general, although the online sale of smoking cessation & nicotine de-addiction products are small compared to their offline sale, the former is expected to grow faster during the forecast period. Hence, the growing adoption of multiple distribution channels by smoking cessation & nicotine de-addiction market vendors to ensure wide availability is anticipated to further influence the market growth over the forecast period.

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Global Smoking Cessation & Nicotine De-addiction Market, Key Findings
• The Global Smoking Cessation & Nicotine De-addiction Market is dominated by e-cigarettes which hold more than 80.0% market share.
• North America is the largest smoking cessation & nicotine de-addiction market in the world followed by Europe and Asia Pacific.
• Increase in number of smokers worldwide is serving the growth of global smoking cessation & nicotine de-addiction market.
• Some of the key players operating in the Global Smoking Cessation & Nicotine De-addiction Market are: Juul Labs, Inc., British American Tobacco Plc., Imperial Brands Plc., Japan Tobacco Inc., Altria Group, Inc., ShenZhen Joye Technology Co., Ltd., Shenzhen Kanger Technology Co., Ltd., GaiaTrend SARL, Twisp Pty Ltd., Shenzhen IVPS Technology Co. Ltd., Pfizer Inc., GlaxoSmithKline plc (GSK), Cipla Ltd., Johnson & Johnson (J&J), ITC Ltd., Takeda Pharmaceutical Company Ltd., Alkalon A/S, 22nd Century Group, Inc. among others.

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Global Smoking Cessation & Nicotine De-addiction Market Segmentation:

• By Product Type
o With Nicotine
 OTC Products
 E-cigarettes
 Open System
 Closed System
 Nicotine Gums (NRT)
 Nicotine Patches (NRT)
 Nicotine Lozenges (NRT)
 Nicotine Tablets (NRT)
 Prescription Products
 Nicotine Sprays (NRT)
 Nicotine Inhalers (NRT)
 Without Nicotine
 OTC Products
 E-cigarettes
 Open System
 Closed System
 Prescription Products
 Zyban
 Chantix
• By Distribution Channel
o Online
o Offline
 Single-brand Vape Stores
 Multi-brand Vape Stores
 Retail Outlets
• By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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