Press release
Quit Smoking Drugs Market Share, Opportunities Analysis, Recent Trends, Regional Growth And Outlook By 2033
Quit Smoking Drugs Market Analysis
The Business Research Company offers in-depth market insights through Quit Smoking Drugs Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The quit smoking drugs market size has grown rapidly in recent years. It will grow from $34.86 billion in 2023 to $39.69 billion in 2024 at a compound annual growth rate (CAGR) of 13.8%. The growth in the historic period can be attributed to health awareness campaigns, medical advancements, government initiatives, behavioral therapies integration, consumer attitude shifts..
The quit smoking drugs market size is expected to see rapid growth in the next few years. It will grow to $69.08 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to research and development investments, growing demand for cessation aids, targeted marketing and awareness campaigns, advancements in pharmacotherapy.. Major trends in the forecast period include personalized treatment approaches, increasing health consciousness, digital therapeutics and apps, behavioral therapy integration, targeted marketing and education..
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Market Segmentation:
The quit smoking drugs market covered in this report is segmented -
1) By Product: Drug Therapy, E-Cigarettes, Nicotine Inhalers, Nicotine Replacement Therapies, Nicotine Sublingual Tablets
2) By Drug: Varenicline (Chantix), Bupropion (Zyban), Other Drugs
3) By Distribution: Drug Store, Online Pharmacies,, Retail Pharmacies
Major Driver - Rising Disease Prevalence Linked To Smoking Fuels Growth In Quit-Smoking Drug Market
The growing prevalence of numerous diseases due to smoking is expected to propel the growth of the quit-smoking drug market going forward. Smoking is the practice of inhaling and exhaling burning plant material vapors such as marijuana and hashish, tobacco, and others. Quit smoking drugs are used to reduce the urge to smoke by hampering the craving for tobacco in an individual, where it is used as a prescription medication to control nicotine withdrawal symptoms to aid in quitting smoking effectively. For instance, in May 2022, according to the World Health Organization (WHO), a Switzerland-based international public health organization, more than 8 million people will be killed each year by tobacco. Around 1.2 million of those fatalities are caused by non-smokers being exposed to secondhand smoke, while more than 7 million are caused by direct tobacco use. Furthermore, in 2021, according to the American Heart Association, a US-based Nonprofit organization, cardiovascular disease related to smoking claims the lives of over 480,000 adults annually in the United States. Therefore, the growing prevalence of numerous diseases due to smoking is driving the growth of the quit-smoking drug market.
Competitive Landscape:
Major companies operating in the quit smoking drugs market report are 22nd Century Group, Alkalon A/S, Cipla Limited, Dr. Reddy's Laboratories, GSK Plc., Johnson & Johnson, NJOY LLC, Novartis AG, Perrigo Company Plc, Pfizer Inc., Philip Morris International, Laboratoires Pierre Fabre, Takeda Pharmaceutical Company, Glenmark Pharmaceuticals Limited, Zydus Cadila Healthcare Limited, Rusan Pharma Ltd., Axsome Therapeutics, BioCorRx Inc., BGP Pharma UAB, Bionorica SE, Cambrex Corporation, Chrono Therapeutics Inc., Coeptis Pharmaceuticals Inc., CV Sciences Inc., D-Pharm Ltd., DURECT Corporation, Egalet Corporation, Ennaid Therapeutics LLC, Fertin Pharma A/S, Gilla Inc., H&T Presspart Manufacturing Ltd., Hikma Pharmaceuticals PLC, Innovus Pharmaceuticals Inc., IntelGenx Technologies Corp. .
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Top Trend - Innovative Product Strategies Drive Growth In The Quit Smoking Drugs Market
Product innovations are a key trend in gaining popularity in the quit smoking drugs. Major companies operating in the quit-smoking drug market are focused on innovating products to strengthen their position in the market. For instance, in August 2022, Swedish Match AB, a Sweden-based tobacco company, launched ZYN Tobacco Gold, a tobacco flavored, nicotine pouch in travel retail. Tobacco Gold is available in medium (3 mg) and strong (6 mg) strengths. The pouches' sweet tobacco flavor, which is reminiscent of dried fruit, wood, and caramel, satisfies consumer desires since tobacco has emerged as the most popular flavor to help consumers opt for reduced-risk alternatives that are both tobacco-free and smoke-free. It provides a solution for cigarette smokers who not only want to prevent the consumption of tobacco but also enjoy a nicotine kick in smoke-free environments.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Quit Smoking Drugs Market Characteristics
3. Quit Smoking Drugs Market Trends And Strategies
4. Quit Smoking Drugs Market - Macro Economic Scenario
5. Quit Smoking Drugs Market Size And Growth
…..
27. Quit Smoking Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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