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Smoking Cession Market Current Scenario with Future Aspect Analysis
According to the latest research by InsightAce Analytic, the global Smoking Cessation Market Size is valued at 25380.0 Million in 2022 and is predicted to reach 53408.9 Million by the year 2031 at a 10.1 % CAGR during the forecast period for 2023-2031.
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Tobacco use continues to be one of the most significant threats to global public health, contributing to the deaths of over eight million individuals annually. Despite this alarming impact, a substantial number of tobacco users actively seek to quit. The process of discontinuing tobacco consumption is referred to as smoking cessation. However, overcoming nicotine dependence remains a major challenge in this process. Individuals attempting to quit smoking often encounter a range of nicotine withdrawal symptoms, including intense cravings, mood fluctuations, insomnia, gastrointestinal discomfort, increased appetite, anxiety, depression (ranging from mild to severe), difficulty concentrating, irritability, restlessness, tremors, excessive sweating, headaches, nausea, and disrupted sleep patterns.
The global market for smoking cessation is expanding due to rising health concerns related to smoking and the rising acceptability of smoking cessation solutions. A few key market trends include increased joint ventures and partnerships, mergers and acquisitions, and product launches. Tobacco addiction can result in several major health issues. Smoking cessation is giving up tobacco use, which lowers the chance of developing diseases linked to smoking. The development of medicines with more efficacy is also anticipated to present a potential opportunity for the market. The enormous untapped market for the industry of smoking cessation in emerging nations is generating a tonne of expansion potential for the global market. However, some factors limiting the growth of the global market include the resistance to the adoption of smoking cessation products, strict regulatory requirements for electronic cigarettes as medical devices, restrictions and bans on the use of electronic cigarettes, and a lack of awareness of nicotine de-addiction products.
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North America is anticipated to contribute to the Smoking Cession market because there are more smokers and more people are becoming aware of the health risks linked with smoking. In addition, the Asia PacificSmoking Cession market is expected to register significant growth due to the enormous patient pool in the area and growing awareness of smoking cessation products. The market is expanding due to the rising incidence of smoking-related health issues in developing nations like China and India.
Major market players operating in the Smoking Cession market include
ReckittBenckiser, Pfizer, GlaxoSmithKline, Roche, Novartis, Johnson and Johnson, Bayer, Cipla, Takeda Pharmaceuticals, Sanofi, Selecta Biosciences, 22nd Century Limited, Fertin Pharma, Achieve Life Sciences, McNeil AB.
Recent collaborations and agreements in the market:
• In 2020, OTC Nicotine Polacrilex Lozenges were introduced by Dr. Reddy's Laboratories in the US 2020. The supplement lowers withdrawal symptoms like nicotine cravings and is used in conjunction with nicotine replacement treatment (NRT).
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Market Segments
Global Smoking Cession Market, by Product, 2023-2031 (Value US$ Mn)
• Smoking Cessation Therapy Products
o Nicotine Lozenges
o Nicotine Gums
o Nicotine Sprays
o Nicotine Transdermal Patches
• Drug Therapy
o Zyban (Bupropion)
o Chantix (varenicline)
• Nicotine Sublingual Tablets
• Nicotine Inhalers
• E-cigarettes
Global Smoking Cession Market, by End User, 2023-2031 (Value US$ Mn)
• Application pharmacy
• Supermarket
• Hospital
Global Smoking Cession Market, by Region, 2023-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Smoking Cession Market, by Country, 2023-2031 (Value US$ Mn)
• U.S.
• Canada
Europe Smoking Cession Market, by Country, 2023-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Smoking Cession Market, by Country, 2023-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Smoking Cession Market, by Country, 2023-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Smoking Cession Market, by Country, 2023-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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