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Global Nicotine Gum Market 2023 Latest Trends, Future Growth, Business Outlook And Forecast To 2032 | Major Players Are Walgreen Co., Johnson & Johnson Ltd., Novartis AG, GlaxoSmithKline plc, British American Tobacco plc
Nicotine Gum Market
The Business Research Company's Nicotine Gum Global Market Report 2023 identifies rising number of deaths caused by smoking as the major driver for the Nicotine Gum Market's growth in the forecast period. Smoking is the act of inhaling and expelling the gases of burning plant material including marijuana, hashish, or tobacco as smoked in a cigarette, cigar, or pipe. Nicotine gum is used as nicotine replacement therapy (NRT) that gives a regulated amount of nicotine without the toxic compounds contained in tobacco smoke to help people stop smoking or reduce their tobacco intake. It can be taken every 2 hours on its own to reduce withdrawal symptoms, or it can be used as required in conjunction with a nicotine patch to control severe cravings.
The global nicotine gum market is expected to grow from $1.47 billion in 2022 to $1.56 billion in 2023 at a compound annual growth rate (CAGR) of 6.09%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market is expected to reach $1.93 billion in 2027 at a CAGR of 5.37%.
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Major competitors in the nicotine gum market are Walgreen Co., Johnson & Johnson Ltd., Novartis AG, GlaxoSmithKline plc, British American Tobacco plc, Philip Morris International Inc., ITC Limited, Perrigo Company plc, Dr. Reddy's Laboratories Ltd., Swisher International Group Inc, Glenmark Pharmaceuticals Limited, Enorama Pharma AB., Cambrex Corporation, Alkalon A/S, betapharm Arzneimittel GmbH, and Jiachem Dentbio Co. Ltd.
A key trend in the Nicotine Gum Market includes Strategic partnerships. Major companies operating in nicotine gum market are focused on forming strategic alliances to strengthen their position in the market. For instance, in March 2022, Nicorette, a US-based smoking cessation brand that offers nicotine gums partnered with Nicoderm CQ, a brand of GSK Consumer Healthcare, a US-based biopharma company. Through this partnership, the companies revealed a brand update, including new visual brand language and assets, to build a more personal, inclusive, and emotionally resonant interaction with customers across all channels to better address the increasing requirements of smokers and offer nicotine replacement therapy (NRT) solutions for nicotine free goal.
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The Nicotine Gum Market is segmented -
By Type: 2 Mg Nicotine Gum, 4 Mg Nicotine Gum, 6 Mg Nicotine Gum
By Category: Flavored, Plain
By Distribution Channel: Retail Pharmacies, Specialty Stores, Online Stores, Other Distribution Channels
By Application: Withdrawal Clinics, Medical Practice, Individual Smokers, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Nicotine Gum Market.
The Business Research Company's "Global Nicotine Gum Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Nicotine Gum Market Include:
1. Executive Summary
2. Nicotine Gum Market Characteristics
3. Nicotine Gum Market Trends And Strategies
4. Nicotine Gum Market - Macro Economic Scenario
5. Nicotine Gum Market Segmentation
……
32. Global Nicotine Gum Market Competitive Benchmarking
33. Global Nicotine Gum Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Nicotine Gum Market
35. Nicotine Gum Market Future Outlook and Potential Analysis
36. Appendix
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