Cigarette smoking is a chronic health problem across the globe. There has been increased focus on the adverse economic and health effects of smoking. Tobacco contains nicotine which is addictive, and thus, tobacco smoking usually leads to nicotine addiction. Smoking cessation aids mainly include nicotine replacement therapy (NRT) products and drugs, which may be coupled with counselling and psychotherapy. However, certain nicotine withdrawal symptoms are observed during the process of smoking cessation, such as, anxiety and irritability, due to which the person, at times, is likely to start smoking again. The first line treatment for smoking cessation comprises either nicotine replacement therapy (NRT) products or drug therapy. However, lately, people willing to quit smoking are also seen preferring e-cigarettes to NRT products and drugs. E-cigarettes provide smokers with the same feeling as that of cigarettes; however, the former are known to aid in lowering nicotine addiction, though there has been a lot of debate about categorization of e-cigarette as a smoking cessation aid.

Nicotine addiction is the second leading cause of death worldwide. According to the Centers for Disease Control and Prevention (CDC), around 44 million adults got addicted to cigarette smoking in 2011, with majority being from the low-income class in the U.S. Similar conditions prevail in other countries and pose an equal threat to human lives. Cigarette smoking is a primary cause of lung cancer and other respiratory and cardiac diseases. Awareness about these health hazards has encouraged smokers to adopt smoking cessation therapy. Convincing results in the initial stages have motivated addicts to try NRT therapy. Smoking cessation campaigns have proved to be a key driver of the nicotine replacement therapy market. Government policies on raising taxes on cigarette products, ban on smoking in public places, and other such reforms have greatly influenced the nicotine replacement therapy market. According to the Tobacco Act in the Netherlands, smoking is banned in pubs, clubs, and restaurants. These acts have been implemented in order to curb smoking addiction as well as to help protect non-smokers from passive smoking. Other countries, including the U.S., the U.K., Germany, and Poland have implemented similar acts to restrict cigarette smoking. These events have driven cigarette addicts toward using NRT products. Introduction of new products is expected to boost the nicotine replacement therapy market, while providing more options to people willing to quit smoking. Currently available NRT products in the market are known to have certain side effects, which is a major reason for therapy dropout.

The global nicotine replacement therapy market can be segmented on the basis of prominently used product type, distribution channel, and geography. The product type segment includes nicotine containing gums, patches, lozenges, sublingual tablets, inhalers, and mouth sprays, out of which, gums, patches, and lozenges generate maximum revenue. Based on distribution channel, the global nicotine replacement therapy market can be divided into hospital pharmacy, retail pharmacy, and online pharmacy.

In terms of geography, the global nicotine replacement therapy market can be classified into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to be the leading market for nicotine replacement therapy, due to rising awareness against smoking hazards and high accessibility of nicotine replacement therapy products. Europe, the second leading market for nicotine replacement therapy, is expected to register double digit CAGR during the forecast period. Smoking restrictions, rising taxes on tobacco products, and mass media and school-based educational campaigns have helped curb the prevalence of smoking in Europe. Asia Pacific and Latin America are anticipated to record maximum growth in the near future as compared to the other regions. Demand for lifestyle drugs is witnessing rapid growth due to factors, such as, rise in health awareness, increase in population, and development of public health care systems, among others

Key players operating in the global nicotine replacement therapy market include Cipla Ltd., GlaxoSmithKline plc, McNeil AB, NJOY, Inc., Novartis International AG, Pfizer, Inc., Revolymer PLC, and Takeda Pharmaceutical Co., Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Nicotine Replacement Therapy Market

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