Smoking Cessation and Nicotine De-Addiction Products Market: Why it matters and 5 key areas for action

Allied Market Research published a report, titled, "Smoking Cessation and Nicotine De-Addiction Products Market by Product (Nicotine Replacement Therapy Products, Drug Therapy, E-cigarettes), by Form (Gum, Inhaler, Tablet, Others), by Distribution Channel (Hospital Pharmacies, Online Provider, Drug stores and Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2022- 2031". According to the report, the global smoking cessation and nicotine de-addiction products industry generated $20.0 billion in 2021, and is anticipated to generate $54.7 billion by 2031, witnessing a CAGR of 10.6% from 2022 to 2031.

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Covid-19 Scenario:

The outbreak of the Covid-19 pandemic changed the patterns of smoking, other substance use and health related behaviors of the smokers. Smokers in several nations increased their tobacco consumption since the epidemic.
On the other hand, there has also been a surge in interest in stopping, quit attempts, and successful cessation rates which further impacted the growth of the smoking cessation and nicotine de-addiction products market positively.
According to WHO, as smoking is associated with increased severity of disease and death in hospitalized COVID-19 patients, a large number of population quit smoking and this created a growth opportunity for the smoking cessation and nicotine de-addiction products market.

The smoking cessation and nicotine de-addiction products market is segmented into Product, Form and Distribution Channel.

By product type, the market is segmented into nicotine replacement therapy products, drug therapy, and e-cigarettes. The e-cigarettes segment generated maximum revenue in 2021. The nicotine replacement therapy products segment is expected to grow at the highest CAGR during the forecast period, owing to rise in adoption of quit smoking challenges by large population, cost-effectiveness, improved innovation, and various product launches.

Depending on the form, the market is divided into gum, inhaler, tablet and others. The others segment further includes lozenges and sprays. In this smoking cessation and nicotine de-addiction products market trends the gum segment dominated the market in 2021, and is expected to be the fastest growing segment during smoking cessation and nicotine de-addiction products market forecast period, owing to rise in demand for nicotine replacement therapy products, innovations by key market players, and rising awareness about quitting smoking.

Depending on distribution channel, the market is divided into hospital pharmacies, online providers, and drug stores and retail pharmacies. The drug stores and retail pharmacies segment dominated the market in 2021, and the online providers segment is expected to grow at the fastest CAGR, during the forecast period, owing to rise in digitalization, ease of purchase, faster delivery of products and accessibility of smartphones.

North America accounted for majority of the global smoking cessation and nicotine de-addiction products market share in 2021. On the other hand, Asia-Pacific is anticipated to dominate the smoking cessation and nicotine de-addiction products industry during the forecast period. This is attributed to increase in awareness regarding harmful effects of smoking that has forced many people in the region to quit smoking, which, in turn, propels the smoking cessation and nicotine de-addiction market. However, Asia-Pacific is anticipated to witness notable growth, owing to large prevalence of tobacco users in this region and rising rate of users to quit tobacco and smoking.

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𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By product type, in smoking cessation marketthe, e-cigarettes segment was the highest contributor to the market in 2021.

By form, the gum segment was the highest contributor to the smoking cessation and nicotine de-addiction products market analysis in 2021.

Depending on distribution channel, the drug stores and retail pharmacies segment was highest contributor in 2021, and the online providers segment is expected to grow at the highest CAGR during the forecast period.

Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

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