Nicotine Replacement Therapy - Market Insights, Competitive Landscape, and Market Forecast - 2030

Nicotine Replacement Therapy (NRT) Market By Product Type (Gums, Patches, Lozenges, Inhalers, And Others), Type (OTC And Prescription), Distribution Channel (Online And Offline), and geography is expected to grow at a steady CAGR forecast till 2030 owing to increasing number of people willing to quit smoking and increasing research and development activities

The global nicotine replacement therapy (NRT) market was estimated to grow at a CAGR of 7.65% during the forecast period from 2024 to 2030. The Nicotine Replacement Therapy (NRT) market is primarily being boosted by a rise in smoking cessation initiatives coupled with growing awareness of health and the growing burden of cancer as a result of continuous tobacco consumption in the form of smoke inhalation of cigarettes, pipes, and cigars among others both in developed and developing countries. Furthermore, the nicotine replacement therapy (NRT) market is anticipated to grow on account of a large number of ongoing research activities in this field, improvements in product development, collaborations between healthcare providers, researchers, and industry players, and strategic partnerships among others are going to contribute to the overall growth of the nicotine replacement therapy (NRT) market during the forecast period from 2024-2030.

Nicotine Replacement Therapy (NRT) Market Dynamics:

According to the World Health Organization (WHO) 2023, about 22.3% of the world's population used tobacco in 2020 and this included 36.7% of men and 7.8% of women. The same source mentioned that around 1.3 billion which makes up 80% of the world's tobacco users live in low- and middle-income countries
Tobacco consumption increases the overall risk and burden for several diseases including cancer, cardiovascular diseases (CVDs), and others. It is the major factor responsible for the huge mortality rate across the world. For instance, as per the above-mentioned source, tobacco kills up to half of its users who don't quit. The source stated further that every year around 8 million people end up dying as a result of tobacco consumption, mentioned the above source.

As per Cancer Council 2021, worldwide in 2019, an estimated 8.71 million deaths happened due to tobacco consumption. The data also highlighted that globally 230 million Disability-adjusted life years (DALYs) were attributable to tobacco. The same source mentioned that based on estimated past Global Burden of Disease data, in Australia, 541,539 DALYs were attributable to tobacco in 2019. Disease groups with the greatest DALY burden attributable to tobacco in Australia in 2019 included chronic respiratory diseases (33%); cancer (19%); and cardiovascular diseases (14%).

Based upon the above-mentioned estimates it is evident that there is an immense burden on the healthcare system to control the risk for multiple diseases and huge mortality rate resulting from tobacco consumption and this will be possible only by creating awareness of the harmful effects of any form of tobacco consumption as well as making people aware of methods like nicotine replacement therapy that will aid them in quitting such activities. Even organization like the WHO supports nicotine replacement therapy as a 12-week regimen that reduces smokers' dependence on cigarettes gradually and finally leads them to quit smoking.

Therefore, owing to the above-mentioned factors, the market for nicotine replacement therapy is expected to witness prosperity in the coming years.

However, limited product adoption due to myths surrounding nicotine replacement therapy (NRT) may restrict the growth of the overall nicotine replacement therapy (NRT) market.

Nicotine Replacement Therapy (NRT) Market Segment Analysis:

Nicotine Replacement Therapy (NRT) Market by Product Type (Gums, Patches, Lozenges, Inhalers, and Others), Type (OTC and Prescription), Distribution Channel (Online and Offline), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the application segment of the nicotine replacement therapy (NRT) market, the gums category is expected to amass a significant revenue share in the year 2023.

Nicotine gum addresses the behavioral side of smoking by giving consumers an alternative to the hand-to-mouth motion and oral fixation that come with smoking. This can be especially helpful in assisting people in breaking the habit.

Furthermore, nicotine gum is made to release nicotine gradually, which aids in the controlled management of withdrawal symptoms. This has the potential to lessen cravings and stop the sharp rises and falls in nicotine levels that come with smoking.

Additionally, a range of flavors and nicotine concentrations are available for these gums, so users can select the ones that best suit their tastes and specific requirements.

Both prescription and over-the-counter versions of gums are available.

Therefore, owing to the above-mentioned factors highlighting the advantages and role of nicotine gums in smoking cessation, the category is expected to register significant growth, thereby driving the growth of the overall nicotine replacement therapy (NRT) Market during the forecast period.

North America is expected to dominate the overall Nicotine Replacement Therapy (NRT) Market:

Among all the regions, North America is estimated to account for the largest share of the nicotine replacement therapy (NRT) market in the year 2023. Owing to the significance of key growth factors such as the rise in number of people willing to discontinue smoking, surge in government initiatives and programs highlighting the ill effects of tobacco consumption and how to quit the same coupled with high disposable income, sophisticated healthcare infrastructure, presence of key players, increasing product development activities, and others, the market for nicotine replacement therapy (NRT) is expected to witness prosperity in the region during the forecast period 2024-2030.

According to the Centers for Disease Control and Prevention (CDC), 2022, in 2021, 65.3% of youth (middle and high school students) who used tobacco products reported that they were seriously thinking about quitting the use of all tobacco products in the US.

As per the source mentioned above, in 2021, 60.2% of youth who were using tobacco products reported that they had stopped using all tobacco products for one day or longer in the past year because they were trying to quit. Nicotine replacement therapy will thereby help those who are willing to stop smoking.

Coupled with the factors mentioned above, the presence of major organizations in the region involved in the promotion of smoking cessation activities is further going to assist in the market growth of nicotine replacement therapy (NRT). For example, the American Lung Association runs the Freedom From Smoking® program which is one of the most effective cessation programs in the country. The program helps one to quit all tobacco products, including e-cigarettes and vaping devices. Programs and initiatives like this will make more people aware of smoking cessation techniques including nicotine replacement therapy (NRT) and will propel the demand for the same.

Thus, the above-mentioned factors are likely to propel the growth of the nicotine replacement therapy (NRT) market in the region during the forecast period from 2024-2030.

Nicotine Replacement Therapy (NRT) Market Key Players:

Some of the key market players operating in the nicotine replacement therapy (NRT) market include Cipla Ltd., Johnson & Johnson Services, Inc., GLENMARK PHARMACEUTICALS LTD., Pfizer Inc., Rubicon Research Pvt. Ltd., Sparsha Pharma International Pvt Ltd., GSK plc, Philip Morris Products S.A., JB Pharma, PL Developments, Dr Reddy's Laboratories Ltd., and Rusan Pharma Limited, and Others.

Recent Developmental Activities in the Nicotine Replacement Therapy (NRT) Market:

• In September 2021, Philip Morris International (PMI) concluded the acquisition of Denmark-based contract development and manufacturing organization Fertin Pharma. PMI plans to leverage Fertin Pharma's expertise to offer a wide range of smoke-free products such as nicotine pouches.
• In May 2021, JB Chemicals & Pharmaceuticals Ltd (JBCPL) announced the launch of NOSMOK prescription medicated nicotine lozenges as part of a 360o Tobacco Cessation initiative on ‘World No Tobacco Day'.
• In July 2020, Dr. Reddy's Laboratories announced the launch of Over-The-Counter Nicotine Polacrilex Lozenges, 2 mg and 4 mg, the store brand version of Nicorette® Lozenges in the US.

Key Takeaways from the Nicotine Replacement Therapy (NRT) Market Report Study

• Market size analysis for current nicotine replacement therapy (NRT) market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global nicotine replacement therapy (NRT) market.
• Various opportunities available for the other competitors in the nicotine replacement therapy (NRT) market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current nicotine replacement therapy (NRT) market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for nicotine replacement therapy (NRT) market growth in the coming future?

Target Audience who can be benefited from this Nicotine Replacement Therapy (NRT) Market Report Study

• Nicotine replacement therapy product providers
• Research organizations and consulting companies
• Nicotine replacement therapy (NRT)-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in nicotine replacement therapy (NRT)
• Various End-users who want to know more about the nicotine replacement therapy (NRT) market and the latest developments in the nicotine replacement therapy (NRT) market.

Frequently Asked Questions for the Nicotine Replacement Therapy (NRT) Market:

1. What is nicotine replacement therapy (NRT)?

Nicotine Replacement Therapy (NRT) is a medically approved treatment for tobacco use disorder, which involves obtaining nicotine through sources other than tobacco and is intended to assist in giving up smoking or chewing tobacco.

2. What is the market for global nicotine replacement therapy (NRT)?

The global nicotine replacement therapy (NRT) market was estimated to grow at a CAGR of 7.65% during the forecast period from 2024 to 2030.

3. What are the drivers for the global nicotine replacement therapy (NRT) market?

The demand for nicotine replacement therapy (NRT) is primarily being boosted by the rise in smoking cessation initiatives coupled with growing awareness of health and the growing burden of cancer as a result of continuous tobacco consumption in the form of smoke inhalation of cigarettes, pipes, and cigars among others both in developed and developing countries. Furthermore, the nicotine replacement therapy (NRT) market is anticipated to grow on account of a large number of ongoing research activities in this field, improvements in product development, collaborations between healthcare providers, researchers, and industry players, and strategic partnerships among others are going to contribute to the overall growth of the nicotine replacement therapy (NRT) market during the forecast period from 2024-2030.

4. Who are the key players operating in the global nicotine replacement therapy (NRT) market?

Some of the key market players operating in the nicotine replacement therapy (NRT) Market include Cipla Ltd., Johnson & Johnson Services, Inc., GLENMARK PHARMACEUTICALS LTD., Pfizer Inc., Rubicon Research Pvt. Ltd., Sparsha Pharma International Pvt Ltd., GSK plc, Philip Morris Products S.A., JB Pharma, PL Developments, Dr Reddy's Laboratories Ltd., and Rusan Pharma Limited, and Others.

5. Which region has the highest share in the nicotine replacement therapy (NRT) market?

North America is expected to dominate the overall nicotine replacement therapy (NRT) market during the forecast period from 2024-2030. Owing to factors such as the se in number of people willing to discontinue smoking, surge in government initiatives and programs highlighting the ill effects of tobacco consumption and how to quit the same coupled with high disposable income, sophisticated healthcare infrastructure, presence of key players, increasing product development activities, and others North American nicotine replacement therapy (NRT) market is expected to growth in coming years.


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