Nicotine Gum Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Walgreen Co., Johnson & Johnson Ltd., Novartis AG, GlaxoSmithKline plc, British American Tobacco plc

"The new report published by The Business Research Company, titled Nicotine Gum Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the nicotine gum market size has grown strongly in recent years. It will grow from $1.66 billion in 2023 to $1.75 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The nicotine gum market size is expected to see strong growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.

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Rising Number Of Smoking-Related Deaths Propels Growth In The Nicotine Gum Market
The rising number of deaths caused by smoking is expected to propel the growth of the nicotine gum market going forward. 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. For instance, in May 2023, statistics shared by the Centers for Diseases Control and Prevention (CDC), a US-based public health agency, cigarette smoking is the biggest cause of avoidable disease, disability, and death in the United States, responsible for more than 480,000 fatalities each year, or around one in every five deaths. Furthermore, in May 2022, according to the World Health Organization, a Switzerland-based international health organization, every year, tobacco kills more than 8 million people. Moreover, around 7 million of those fatalities are directly related to tobacco use, whereas around 1.2 million are related to nonsmokers being exposed to second-hand smoke. Therefore, the rising number of deaths caused by smoking drives the growth of the nicotine gum market.

Strategic Partnerships Reshape The Nicotine Gum Market Landscape
Strategic partnerships are the key trend gaining popularity in the nicotine gum market. 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. Similarly, in February 2022, Enorama Pharma AB, a Sweden-based pharmaceutical company partnered with Betapharm Arzneimittel GmbH to launch the generic nicotine chewing gum in the German market under the brand name Nicotine beta and is also working on a smoking cessation program that can be available online soon. Betapharm Arzneimittel GmbH (Betapharm) is a Germany-based pharmaceutical market.

The nicotine gum market covered in this report is segmented -

1) By Type: 2 Mg Nicotine Gum, 4 Mg Nicotine Gum, 6 Mg Nicotine Gum
2) By Category: Flavored, Plain
3) By Distribution Channel: Retail Pharmacies, Specialty Stores, Online Stores, Other Distribution Channels
4) By Application: Withdrawal Clinics, Medical Practice, Individual Smokers, Other Applications

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Major companies operating in the nicotine gum market report 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, Jiachem Dentbio Co. Ltd.

Contents of the report:
1. Executive Summary
2. Nicotine Gum Market Report Structure
3. Nicotine Gum Market Trends And Strategies
4. Nicotine Gum Market - Macro Economic Scenario
5. Nicotine Gum Market Size And Growth
…..
27. Nicotine Gum Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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