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Smoking Cessation and Nicotine De addiction Products Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023
Smoking Cessation and Nicotine De addiction Products Market
Global Smoking Cessation and Nicotine De-addiction Products Market Report Description:
Global Smoking Cessation and Nicotine De-addiction Products Market report gives a comprehensive outlook on smoking cessation & nicotine de-addiction products across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). The report on smoking cessation & nicotine de-addiction products market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, distribution channel, and geographic regions. This report studies smoking cessation & nicotine de-addiction products market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, smoking cessation & nicotine de-addiction products market report includes new product introductions; regulatory scenario and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed smoking cessation & nicotine de-addiction products market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the smoking cessation & nicotine de-addiction products market report include suppliers, manufacturers, marketers, policymakers, and healthcare service providers engaged in manufacturing, supply and prescription of Smoking Cessation and Nicotine De-addiction Products Market
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Global Smoking Cessation and Nicotine De-addiction Products Market:
Global Smoking Cessation and Nicotine De-addiction Products Market estimated to be valued US$ 9,014 Mn in 2017 and poised to grow at CAGR of 12.7% over 2017-2023. The market for smoking cessation & nicotine de-addiction products projected to reach US$ 18,489 Mn by 2023 owing to growing awareness regarding smoking cessation and availability of wider product choices.
Do policy changes bring positive impact on smoking cessation and nicotine de-addiction products market?
Of late, several governments across the globe coming up with policy changes to curb the smoking habit among people, which is likely to prompt smokers to adopt alternatives to smoking such as nicotine-based products or E-cigarettes. Moreover, several governments are launching innovative awareness campaigns through digital, electronic and print media to sensitize the people regarding harmful effects of the smoking. These government initiatives expected to drive the market for smoking cessation & nicotine de-addiction products over the forecast period. For Instance, countries/regions like China, India and GCC countries brought laws that mandate the tobacco products manufacturers to place warning labels on the products and same laws prohibit the smoking in public areas, these are expected to create a market opportunity for the players.
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Growing adoption of smoking cessation and nicotine de-addiction products across the globe is creating significant market opportunities
The growing prevalence of smoking and its hazardous effects on the cardiac and respiratory system is driving the smokers to adopt an alternative to smoking like nicotine-based products and E-cigarettes, this is expected to create a huge growth opportunity for market players over the forecast period. Moreover, consumers have been exposed to numerous innovative products in different formulations, which are helping buyers to choose the appropriate product for consumption, this in turn aiding the product adoption in the market. Moreover, regulatory approvals for Nicotine Replacement Therapies (NRT), non-nicotine based products and e-cigarettes are aiding the market revenue growth.
North America emerged as prominent region for smoking cessation & nicotine de-addiction products market across the globe
North America market is expected to hold the larger revenue share in global smoking cessation & nicotine de-addiction products market and projected to remain dominant over the forecast period owing to growing awareness and wider adoption choices in the region. Asia-pacific Smoking cessation & nicotine de-addiction products market projected to grow at highest CAGR over the forecast period in comparison with other regions owing to large smoking population and growing interest of multinational players in the region for geographic expansion.
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Competition Assessment
Key players profiled in the global Smoking Cessation & Nicotine De-addiction Products Market include:
• Cipla Ltd. (India)
• GlaxoSmithKline plc. (UK)
• ITC Limited (India)
• Johnson & Johnson Services Inc. (U.S)
• NJOY, Inc. (U.S)
• Novartis AG (Switzerland)
• Pfizer, Inc. (U.S)
• Takeda Pharmaceuticals Co. Ltd. (Japan)
• VMR Products, LLC (U.S)
Players in smoking cessation & nicotine de-addiction products market are focusing on introducing newer and innovative therapies like varenicline and Cytisine to garner larger market revenue share in global smoking cessation & nicotine de-addiction products market. Moreover, players entering into collaborations and partnership to increase the product market reach in various geographies
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