Nicotine Replacement Therapy Market to Reach USD 52.1 Bn by 2031 | TMR

The worldwide 𝐍𝐢𝐜𝐨𝐭𝐢𝐧𝐞 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 attained a valuation of US$ 27.0 billion in 2022 and is anticipated to exhibit robust growth, with a projected Compound Annual Growth Rate (CAGR) of 7.7% from 2023 to 2031, surging to more than US$ 52.1 billion by 2031.

𝐎𝐛𝐭𝐚𝐢𝐧 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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The escalating prevalence of smoking-related health complications, including lung cancer, respiratory diseases, and cardiac ailments, is serving as a primary driver for the global market. Heightened awareness regarding the detrimental effects of smoking on health has resulted in increased demand for effective smoking cessation aids. Government initiatives and anti-smoking campaigns are playing pivotal roles in promoting nicotine replacement therapy as an integral component of smoking cessation programs. Nicotine replacement therapy provides a safer alternative to tobacco addiction while aiding in the management of withdrawal symptoms, thus likely bolstering the global nicotine replacement therapy market size.

Nicotine replacement therapy (NRT) aids in smoking cessation by replacing nicotine from cigarettes or tobacco products. NRT alleviates withdrawal symptoms and cravings, boosting the likelihood of successfully quitting smoking. It comes in various forms such as gum, patches, lozenges, inhalers, and nasal sprays, serving as a crucial tool for overcoming nicotine addiction.

An article in Frontiers Psychiatry (November 2022) highlights NRT's effectiveness, citing it as the gold standard for smoking cessation. NRT can increase smoking cessation rates by 50% to 70%. Additionally, the Centers for Disease Control and Prevention (CDC) states that NRT products are safer alternatives to smoking, as the harmful compounds in cigarette smoke, not nicotine, are responsible for most health risks.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Haleon Group of Companies, Perrigo Company plc, SAABI NZ PTY Limited, Pfizer, Inc., PL Developments, Philip Morris International, Inc., Cipla Limited, JUUL Labs, Inc., JT International SA, Imperial Brands plc, Pierre Fabre S.A., Sparsha Pharma International Pvt. Ltd., Rubicon Research Pvt. Ltd., Lucy Goods, McNeil AB (Johnson & Johnson), BAT plc., and Fontem Holdings 4 B.V.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Product Type

Smoking Cessation Aids
Nicotine Inhalers
Nicotine Gums
Nicotine Lozenges
Nicotine Patches
Others (nicotine tablets, nicotine spray, etc.)

Vaping System

E-cigarettes
Heat-not-burn Tobacco Products

Distribution Channel

Retail Pharmacies
Hospital Pharmacies
Online Stores

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In October 2022, Qnovia, a Los Angeles-based pharmaceutical company, raised US$ 17 Mn in series funding to advance its lead inhaled drug delivery candidate into clinical trials. The candidate, RespiRx, is a nicotine replacement therapy that uses a hand-held vibrating mesh nebulizer to generate an aerosol for inhalation. The device is designed to overcome the limitations of existing systems by delivering precise doses and enabling optimal delivery to the lungs. Qnovia aims to redefine the standard of effective inhaled drug delivery using this device. The funding will support the company's efforts to initiate human testing of RespiRx. The success of this clinical trial could have significant implications for the treatment of nicotine addiction and other respiratory conditions.

In January 2021, Johnson & Johnson Consumer Health, through its partnership with the Access Initiative for Quitting Tobacco (AIQT), donated nicotine replacement therapy to the Ministry of Health of Jordan. This marks the first-ever donation of this kind received by the Ministry of Health of Jordan. The estimated retail value of the donation is around US$ 800,000, and it aims to help thousands of Jordanians and refugees quit smoking during the COVID-19 pandemic and beyond. The donation demonstrates the commitment of Johnson & Johnson Consumer Health and AIQT to support public health initiatives and promote smoking cessation in Jordan.

𝐆𝐫𝐚𝐛 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐩𝐲:
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𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Introduction of novel NRT formulations with improved efficacy and convenience.
Rising popularity of e-cigarettes as an alternative NRT method.
Integration of digital platforms for personalized smoking cessation programs.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Analysis of market dynamics, including drivers, challenges, and trends.
Assessment of market segmentation based on various parameters.
Evaluation of regional market landscapes and growth opportunities.
Examination of competitive strategies adopted by key market players.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐀𝐭𝐫𝐢𝐚𝐥 𝐅𝐢𝐛𝐫𝐢𝐥𝐥𝐚𝐭𝐢𝐨𝐧 𝐒𝐮𝐫𝐠𝐞𝐫𝐲 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭
- https://www.globenewswire.com/news-release/2023/03/23/2633284/0/en/Atrial-Fibrillation-Surgery-Devices-Market-to-Hit-USD-7-0-Bn-by-2031-Transparency-Market-Research.html

𝐁𝐢𝐨𝐝𝐞𝐠𝐫𝐚𝐝𝐚𝐛𝐥𝐞 𝐏𝐥𝐚𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/03/23/2633020/0/en/Biodegradable-Plastics-Market-Size-to-Hit-USD-7-1-Bn-by-2031-with-CAGR-of-6-5-Transparency-Market-Research.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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