Worldwide Nicotine Replacement Therapy Industry to 2028 - Rise in Awareness About Ill-effects of Smoking is Driving Growth

Dublin, IRELAND


Dublin, Feb. 25, 2021 (GLOBE NEWSWIRE) -- The "Nicotine Replacement Therapy Market Size, Share & Trends Analysis Report by Product (Nicotine Replacement Therapy, E-cigarettes, Heat-not-burn Tobacco Products), by Distribution Channel, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global nicotine replacement therapy market size is expected to reach USD 147.9 billion by 2028. It is expected to expand at a CAGR of 16.3% from 2021 to 2028. The growth of the market is largely attributed to increasing government initiatives to promote nicotine replacement therapy (NRT) products for reducing mortality due to smoking and diseases associated with it.

Smoking cessation campaigns are also playing a crucial role in increasing awareness about diseases that are caused because of smoking. These campaigns are run by regional governments as well as multinational companies, such as Philip Morris International and Altria. Global organizations like the WHO are also working toward creating awareness by running online campaigns.

There has been an exponential increase in the usage of NRT products. The young population is the largest consumer of advanced NRT products, like heat-not-burn tobacco and e-cigarettes. However, middle-aged patients' interest in smoking cessation has led to a rise in the usage of e-cigarettes. For instance, the use of e-cigarettes for smoking cessation increased to 20% in 2018 from 13% in 2016 among people aged 45 to 54 years.

Furthermore, researchers found that 5% to 9% of smokers tend to use nicotine patches even after the therapeutic period of 12 weeks. The passive approach of combining nicotine patches with a gum, inhaler, or spray is found to be more effective, and quitting rate reaching 34% to 54%. NRT is only recognized as a way of curbing nicotine cravings and treatment by consumers.

With technological advancements, the players in this market are also developing products to suit the changing consumer preferences. For instance, the e-cigarette market is changing with newer innovations that are more efficient, have longer battery life, and are rechargeable. The existing innovations like sleek and easy-to-use socially acceptable e-cigarettes brought a revolution, which drove more people to shift to using NRTs without social stigma.

Various players such as Nicocigs Ltd.; Nicoventures Ltd.; Victory Electronic Cigarettes Corp.; DuraSmoke; AlternaCig; Shenzhen IVPS Technology CO. Limited; and Vapor Group, Inc. are launching e-cigarettes and related products. Although there are hundreds of companies selling e-cigarettes, their usage in NRT is disputed.

Nicotine Replacement Therapy Market Report Highlights

  • By product, the e-cigarettes segment held the largest NRT market share in 2020 due to increasing investments and the rising focus of companies on developing value-added products. The heat-not-burn tobacco products segment is expected to grow at the fastest rate over the forecast period.
  • The offline distribution channel segment dominated the market in 2020. Retail chains across the world are investing in advanced technologies and undertaking new initiatives in order to improve sales and attract more customers. The increasing sales of e-cigarettes through vape shops and retail stores is another factor augmenting the growth of this segment.
  • Asia Pacific held the largest market share in 2020. Favorable government initiatives, coupled with an evolving reimbursement landscape for pharmaceutical products, are supporting continual growth.

Key Topics Covered:

Chapter 1 Methodology and Scope
1.1 Market Segmentation
1.2 Research Methodology
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Secondary Sources
1.3.3 Primary Research
1.3.4 Details of Primary Research
1.4 Information or Data Analysis
1.4.1 Data analysis models
1.5 Market Formulation & Validation
1.6 Model Details
1.6.1 Commodity Flow Analysis
1.6.1.1 Approach 1: Commodity Flow Approach
1.6.1.2 Approach 2: Country-wise market estimation using bottom-up approach
1.7 Global Market: CAGR Calculation
1.8 List of Secondary Sources
1.9 Objectives
1.9.1 Objective 1:
1.9.2 Objective 2:
1.10 List of Abbreviations

Chapter 2 Executive Summary
2.1 Market Summary

Chapter 3 Nicotine Replacement Therapy Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent market outlook
3.2 Penetration & Growth Prospect Mapping
3.3 User Perspective Analysis
3.3.1 Consumer behavior analysis
3.4 Market Dynamics
3.4.1 Market Drivers
3.4.1.1 Technological Advancements
3.4.1.2 Rise in awareness about ill-effects of smoking
3.4.1.3 Rising number of people undergoing a smoking cessation
3.4.2 Market Restraints
3.4.2.1 Ban of e-cigarettes
3.4.2.2 stringent regulatory framework
3.5 SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
3.6 Industry Analysis-Porter's
3.7 Pricing Analysis
3.8 Regulatory and Reimbursement Scenario
3.9 Consumer Insights on Nicotine Replacement Therapy
3.10 Novel Players in the Field
3.11 Insights on Existing Innovations and Future trends

Chapter 4 Nicotine Replacement Therapy Market: Segment Analysis, By Product, 2017-2028 (USD Million)
4.1 Definition and Scope
4.2 Product Market Share Analysis, 2020 & 2028
4.3 Segment Dashboard
4.4 Global Nicotine Replacement Therapy Market, by Product, 2017 to 2028
4.5 Market Size & Forecasts and Trend Analyses, 2017 to 2028
4.5.1 Nicotine Replacement Therapy (NRT)
4.5.1.1 Nicotine replacement therapy market, 2017-2028 (USD Million)
4.5.1.2 Inhalers
4.5.1.2.1 Inhalers market, 2017-2028 (USD Million)
4.5.1.3 Gum
4.5.1.3.1 Gum market, 2017-2028 (USD Million)
4.5.1.4 Transdermal patches
4.5.1.4.1 Transdermal patches market, 2017-2028 (USD Million)
4.5.1.5 Sublingual Tablets
4.5.1.5.1 Sublingual Tablets market, 2017-2028 (USD Million)
4.5.1.6 Lozenges
4.5.1.6.1 Lozenges market, 2017-2028 (USD Million)
4.5.1.7 Others
4.5.1.7.1 Others market, 2017-2028 (USD Million)
4.5.2 e-cigarettes
4.5.2.1 E-cigarettes market, 2017-2028 (USD Million)
4.5.3 Heat-not-burn Tobacco Products
4.5.3.1 Heat-not-burn tobacco products market, 2017-2028 (USD Million)

Chapter 5 Nicotine Replacement Therapy Market: Segment Analysis, By Distribution Channel, 2017-2028 (USD Million)
5.1 Definition and Scope
5.2 Distribution Channel Market Share Analysis, 2020 & 2028
5.3 Segment Dashboard
5.4 Nicotine Replacement Therapy Market, by Distribution Channel, 2017 to 2028
5.5 Market Size & Forecasts and Trend Analyses, 2017 to 2028
5.5.1 Online
5.5.1.1 Online market, 2017-2028 (USD Million)
5.5.2 Offline
5.5.2.1 Offline market, 2017-2028 (USD Million)

Chapter 6 Nicotine Replacement Therapy Market: Segment Analysis, By Region, 2017-2028 (USD Million)
6.1 Segment Dashboard
6.2 Nicotine Replacement Therapy Market: Regional Movement Analysis
6.3.1 North America
6.3.1.1 North America market estimates and forecast, 2017-2028 (USD Million)
6.3.1.2 U.S.
6.3.1.2.1 U.S. market estimates and forecast, 2017-2028 (USD Million)
6.3.1.3 Canada
6.3.1.3.1 Canada market estimates and forecast, 2017-2028 (USD Million)
6.3.2 Europe
6.3.2.1 Europe market estimates and forecast, 2017-2028 (USD Million)
6.3.2.2 U.K.
6.3.2.2.1 U.K. market estimates and forecast, 2017-2028 (USD Million)
6.3.2.3 Germany
6.3.2.3.1 Germany market estimates and forecast, 2017-2028 (USD Million)
6.3.2.4 France
6.3.2.4.1 France market estimates and forecast, 2017-2028 (USD Million)
6.3.2.5 Spain
6.3.2.5.1 Spain market estimates and forecast, 2017-2028 (USD Million)
6.3.2.6 Italy
6.3.2.6.1 Italy market estimates and forecast, 2017-2028 (USD Million)
6.3.3 Asia Pacific
6.3.3.1 Asia Pacific market estimates and forecast, 2017-2028 (USD Million)
6.3.3.2 Japan
6.3.3.2.1 Japan market estimates and forecast, 2017-2028 (USD Million)
6.3.3.3 China
6.3.3.3.1 China market estimates and forecast, 2017-2028 (USD Million)
6.3.3.4 Australia
6.3.3.4.1 Australia market estimates and forecast, 2017-2028 (USD Million)
6.3.3.5 South Korea
6.3.3.5.1 South Korea market estimates and forecast, 2017-2028 (USD Million)
6.3.4 Latin America
6.3.4.1 Latin America market estimates and forecast, 2017-2028 (USD Million)
6.3.4.2 Brazil
6.3.4.2.1 Brazil market estimates and forecast, 2017-2028 (USD Million)
6.3.4.3 Mexico
6.3.4.3.1 Mexico market estimates and forecast, 2017-2028 (USD Million)
6.3.5 Middle East and Africa
6.3.5.1 MEA Market Estimates & Forecasts, 2017-2028 (USD Million)
6.3.5.2 South Africa
6.3.5.2.1 South Africa market estimates and forecast, 2017-2028 (USD Million)
6.3.5.3 Saudi Arabia
6.3.5.3.1 Saudi Arabia market estimates and forecast, 2017-2028 (USD Million)
6.3.5.4 UAE
6.3.5.4.1 South Africa market estimates and forecast, 2017-2028 (USD Million)

Chapter 7 Nicotine Replacement Therapy Market-Competitive Analysis
7.1 Recent Developments & Impact Analysis, by Key Market Participants
7.1.1 Ansoff matrix
7.2 Company Categorization
7.2.1 Innovators
7.2.2 Market Leaders
7.3 Vendor Landscape
7.3.1 List of key distributors and channel partners
7.3.2 Key customers
7.4 Public Companies
7.4.1 Company Market Share
7.5 Private Companies
7.5.1 List of key emerging companies
7.6 Synergy Analysis: Major Deals & Strategic Alliances
7.6.1 New Product Launch
7.6.2 Acquisition
7.6.3 Expansion
7.6.4 Partnerships
7.6.5 Marketing & Promotions
7.7 Company Profiles
7.7.1 Cipla Inc.
7.7.1.1 Company overview
7.7.1.2 Financial Performance
7.7.1.3 Product Benchmarking
7.7.1.4 Strategic Initiatives
7.7.2 Pfizer, Inc.
7.7.2.1 Company overview
7.7.2.2 Financial Performance
7.7.2.3 Product Benchmarking
7.7.2.4 Strategic Initiatives
7.7.3 GLENMARK
7.7.3.1 Company overview
7.7.3.2 Financial Performance
7.7.3.3 Product Benchmarking
7.7.3.4 Strategic Initiatives
7.7.4 Fertin Pharma
7.7.4.1 Company overview
7.7.4.2 Financial Performance
7.7.4.3 Product Benchmarking
7.7.4.4 Strategic Initiatives
7.7.5 PHILIP MORRIS PRODUCTS S.A.
7.7.5.1 Company overview
7.7.5.2 Financial Performance
7.7.5.3 Product Benchmarking
7.7.5.4 Strategic Initiatives
7.7.6 BRITISH AMERICAN TOBACCO p.l.c.
7.7.6.1 Company overview
7.7.6.2 Financial Performance
7.7.6.3 Product Benchmarking
7.7.6.4 Strategic Initiatives
7.7.7 JAPAN TOBACCO, INC.
7.7.7.1 Company overview
7.7.7.2 Financial Performance
7.7.7.3 Product Benchmarking
7.7.7.4 Strategic Initiatives
7.7.8 IMPERIAL BRANDS
7.7.8.1 Company overview
7.7.8.2 Financial Performance
7.7.8.3 Product Benchmarking
7.7.8.4 Strategic Initiatives
7.7.9 JOHNSON & JOHNSON SERVICES, INC.
7.7.9.1 Company overview
7.7.9.2 Financial Performance
7.7.9.3 Product Benchmarking
7.7.9.4 Strategic Initiatives

For more information about this report visit https://www.researchandmarkets.com/r/ih4zjn

 

Contact Data