Press release
Surge in Quit Smoking Drugs Market: $44.62 Billion by 2025 and $79.99 Billion by 2029
Surge in Quit Smoking Drugs Market
What Is The Projected Market Size Of The Global Quit Smoking Drugs Market And Its Growth Rate?
The quit smoking drugs market is witnessing remarkable growth in recent years and this trend is expected to continue.
• Market size in 2024: $39.26 billion
• Market size in 2025: $44.62 billion (CAGR of 13.7%)
• Market size in 2029: $79.99 billion (CAGR of 15.7%)
What Is Driving The Growth In The Quit Smoking Drugs Market?
The sharp increase in smoking addiction is driving the growth of the quit-smoking drug market. Smoking, which involves inhaling and exhaling vapors from burning plant materials, is increasingly leading to the use of quit smoking drugs to curb the urge to smoke. The quit smoking drugs are effectively used as a prescription medication to control nicotine withdrawal symptoms and helps individuals to stop smoking. For instance, according to Statistics Canada, in July 2022, cigarette production increased by 5.8% compared to June 2021, and the total number of cigarettes sold rose by 1.3% from May 2022, reaching 1.4 billion in June 2022.
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Who Are the Key Players Driving Quit Smoking Drugs Market Growth?
The major companies operating in the quit smoking drugs market include
• 22nd Century Group
• Cipla Limited
• Dr. Reddy's Laboratories
• GSK Plc.
• Johnson & Johnson
• NJOY LLC
• Novartis AG
• Perrigo Company Plc
• Pfizer Inc.
• Philip Morris International
• Glenmark Pharmaceuticals Limited
• Zydus Cadila Healthcare Limited
• Rusan Pharma Ltd.
• BioCorRx Inc.
• CV Sciences Inc.
• Ennaid Therapeutics LLC
• Fertin Pharma A/S
• Gilla Inc.
• Hikma Pharmaceuticals PLC
• Innovus Pharmaceuticals Inc.
• IntelGenx Technologies Corp.
What Are The Key Trends In The Quit Smoking Drugs Market?
The key trends in the quit smoking drugs market include:
• Personalized treatment approaches
• Increasing health consciousness
• Digital therapeutics and apps
• Behavioral therapy integration
• Targeted marketing and education
What Are The Segments Of The Global Quit Smoking Drugs Market?
The global quit smoking drugs market is segmented by
• Product: Drug Therapy, E-Cigarettes, Nicotine Inhalers, Nicotine Replacement Therapies, Nicotine Sublingual Tablets
• Drug: Varenicline (Chantix), Bupropion (Zyban), Other Drugs
• Distribution: Drug Store, Online Pharmacies, Retail Pharmacies
Which Region Leads The Quit Smoking Drugs Market?
North America was the largest region in the quit smoking drugs market in 2024. The report covers quit smoking drugs market information for regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Quit Smoking Drugs Market Global Market Report?
- Market Size Analysis: Analyze the Quit Smoking Drugs Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Quit Smoking Drugs Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Quit Smoking Drugs Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Quit Smoking Drugs Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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