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Published Date: 2016-01-12Number of Pages: 82

Smoking Cessation and Nicotine De-addiction Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

The Centers for Disease Control and Prevention (CDC) reported that there were 44 million adults addicted to smoking in 2011 in the U.S. The majority of these addicts belonged to the low-income groups in the country. On a similar note, the World Health Organization stated that Europe has the biggest pool of smokers, while Asia Pacific has a high percentage of cigarette smokers in comparison to North America and Europe. These dismaying facts and figures are only expected to rise in the near future, which will snowball into a range of medical conditions, some life-changing while some that will meet the fatal end.

This grim reality has forced governments across the globe, non-profit organizations, and the vast pharmaceutical industry to take strict measures to help nicotine addicts. These reasons have collectively triggered a huge demand for smoking cessation aids that mainly include nicotine replacement therapy (NRT) products. Transparency Market Research reports that the opportunities in the global smoking cessation and nicotine de-addiction products market will be worth US$20.5 bn by 2023 from US$6.5 bn in 2014, as the market progresses at a robust CAGR of 13.7% between 2015 and 2023.

Rising Number of Smokers in the U.S. Make North America Leading Market for Smoking Cessation and Nicotine De-addiction Products

The majority of the countries across the globe are enforcing smoking cessation measures, with North America leading the way. North America was the key regional contributor to the overall market. Its revenue in the market was valued at US$3.25 bn in 2015 and is expected to reach US$8.59 bn by 2023, as it expands at a CAGR of 12.9% between 2015 and 2023.

The increasing number of smokers is expected to fuel smoking cessation and nicotine de-addiction products market in North America. Out of all the products, e-cigarettes will do well in the region as they offer convenient usage in no-smoking areas. Furthermore, their cost-effectiveness and their increasing acceptance over conventional tobacco cigarettes will also boost their demand in the near future.

E-cigarettes Outpace Other Products due to their Convenience

Out of the variety of smoking cessation aids and nicotine de-addiction products available in the market, e-cigarettes are being popularly used. This product segment will witness a strong rise in the global market at robust CAGR of 20.5% between 2015 and 2023. This product operates on a battery to provide the user minimum amount of nicotine through heating and vaporizing. The increasing sales of this specific product are attributable its unique ability to provide the same feeling as smoking a cigarette at a minimal risk to user’s health and wealth.

The next emerging product segment in the global smoking cessation and nicotine de-addiction products market is Champix, which is also known as Chantix. This is a prescription drug that helps the smokers to curb their urge to smoke. This product segment is expected to expand at a CAGR of 14.8% between 2015 and 2023.

Some of the leading players dictating the vendor landscape of the global smoking cessation and nicotine de-addiction products market are NJOY, Johnson & Johnson, GSK, Pfizer, VMR Products LLC, Nicotek LLC., and Lorillard, Inc. These players are making significant investments in conducting clinical trials to assess the safety and efficacy to the products. Furthermore, companies are also strengthening their distribution channels to widen the geographical reach of their products. 

Global Smoking Cessation and Nicotine De-addiction Products Market: Overview

Smoking cessation involves the use of products, methods, and programs independently or in a combination to curb the urge to smoke. Smoking cessation products that are approved by regulatory agencies such as FDA can increase chances of success of quitting smoking. Some smoking cessation products are known as nicotine replacement therapy (NRT) as they contain varying amounts of nicotine. This includes nicotine chewing gums, nicotine patches, nasal sprays, and oral medications. 

Smoking cessation interventions, which includes the use of smoking cessation and nicotine de-addiction are a cost-effective way of long-term health benefits. 

Global Smoking Cessation and Nicotine De-addiction Products Market: Trends and Opportunities 

The rising awareness amongst smokers that nicotine addiction that can cause lung cancer, respiratory problems, and cardiac diseases have triggered the sales of smoking cessation and nicotine de-addiction products. Several governments across the world are organizing campaigns and using media for raising awareness about the ill-effects of smoking. Furthermore, availability of nicotine replacement therapy products through retail and e-commerce is also fuelling the growth of this market. 

Besides this, non-profit organizations and de-addiction camps are using smoking cessation and nicotine de-addiction products to help smokers quit nicotine. The retail sales of these products have also been effective for helping the nicotine addicts quit smoking. For instance, the introduction of e-cigarettes has brought a radical change regarding the perception of de-addiction amongst several smokers. 

On the other hand, lack of awareness about the availability of smoking cessation products and insufficient distribution channels in developing countries are impeding the market’s growth. For instance, Nicorette gums have been available in India only since 2010. 

E-cigarettes are the most popular among a range of smoking cessation and nicotine de-addiction products. This product segment is expected to rise at a robust CAGR of 20.5% from 2015 to 2023. E-cigarettes operate on a battery that controls the amount of nicotine provided to the user by means of heating and vaporizing. The unique quality of the product to provide the same feeling as smoking nicotine cigarette with minimal health risk to the user is driving sales of this product. 

Champix is emerging as another significant product in the smoking cessation and nicotine de-addiction market. Champix is a prescription drug that helps smokers suppress their urge to smoke. 

Global Smoking Cessation and Nicotine De-addiction Products Market: Regional Outlook 

Across major part of the world, smoking cessation is on the social issues agenda of governments, with North America leading the way. The region contributed the major revenue of US$3.25 bn to the overall market in 2015. Progressing at a CAGR of 12.9% between 2015 and 2023, the valuation of the North America smoking cessation and nicotine de-addiction market is expected to reach US$8.59 bn by 2023. 

In North America, the rising number of smokers is fuelling growth of the market for smoking cessation and nicotine de-addiction products. Amongst all products, e-cigarettes are expected to display the leading demand as they can be used in non-smoking areas. Moreover, cost-effectiveness of e-cigarettes and their increasing use in place of conventional tobacco cigarettes is expected to boost their demand in the coming years. 

Global Smoking Cessation and Nicotine De-addiction Products Market: Competitive Outlook 

Some of the leading players operating in the global smoking cessation and nicotine de-addiction products market are NJOY, GSK, VMR Products LLC, Lorillard Inc., Johnson & Johnson, Pfizer, and Nicotek LLC. 

The global smoking cessation and nicotine de-addiction market is segmented as follows: 

Global Smoking Cessation and Nicotine De-Addiction Products Market, by Type 

  • Nicotine Replacement Therapy Products
    • Nicotine Gums
    • Nicotine Transdermal Patches
    • Nicotine Lozenges
    • Nicotine Sprays
    • Nicotine Inhalers
    • Nicotine Subling ual Tablets
  • Drug Therapy
    • Zyban (bupropion)
    • Chantix/Champix (varenicline)
  • E-cigarettes 

Global Smoking Cessation and Nicotine De-Addiction Products Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Latin America (LATAM)
    • Middle East and North Africa (MENA) 

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years

Key highlights                                                     

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • A clear understanding of the competitive landscape and key product segments


 
 
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