Smoking Cessation And Nicotine De-addiction Market Growth & Trends
The global smoking cessation and nicotine de-addiction market size is expected to reach USD 50.90 billion by 2030, growing at a CAGR of 10.4% from 2024 to 2030. The base of population addicted to smoking is rapidly increasing across the globe. This population subset majorly includes teenagers and the working population. Smoking-related mortality is very high. The increasing desire to quit smoking and the numerous health complications associated with smoking serve as strong incentives for companies to introduce novel smoking cessation products, such as Revolymer, which has introduced the next generation nicotine gums to help smokers quit smoking. The launch of these improved and innovative nicotine replacement therapy products is to serve as a high impact rendering driver for the growth of the smoking cessation and nicotine de-addiction market.
The growing incidence of target diseases such as chronic obstructive pulmonary disease (COPD), asthma, cardiac diseases, and lung cancer, and the increasing awareness pertaining to the hazardous side-effects of smoking are the factors expected to promote market expansion. Educational institutions remain active in organizing various campaigns and programs to spread information about the harmful effects and consequences of smoking so as to increase young population awareness.
Smoking Cessation And Nicotine De-addiction Market Report Highlights
- Nicotine Replacement Therapy (NRT) dominated the smoking cessation and de-nicotine addiction product market in 2023. Majorly used NRT products include nicotine chewing gums and the transdermal patches. Increased availability and the introduction of the ingestible nicotine products with different flavors are the factors responsible for its large market share.
- The e-cigarette segment is anticipated to grow at a CAGR of 8.48% over the forecast period. The major factors responsible for the growth of the E-cigarette market include the introduction of second and third generation e-cigarettes, the availability of various flavored products, the presence of numerous vendors operating and selling e-cigarettes under different brand names.
- North America dominated the smoking cessation and nicotine de-addiction market with a market share of 40.3% in 2023.
- Asia Pacific is the fastest growing market. The registration of nicotine de-addiction products and e-cigarettes as well as the strengthening of the company distribution channels in countries, such as China, India, and Australia are expected to support the growth over the forecast period.
- The market players are making slow but steady progress in the e-cigarette market by focusing on the development, commercialization, and distribution of the FDA approved nicotine products. For instance, in 2014, Victory Electronic Cigarettes Corporation acquired Ten Motives Ltd. with an aim to expand their distribution channels and attain wider market coverage.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Smoking Cessation and Nicotine De-addiction Market Variables, Trends, & Scope
Chapter 4. Smoking Cessation and Nicotine De-addiction Market: Type Estimates & Trend Analysis
Chapter 5. Smoking Cessation and Nicotine De-addiction Market: Form Type Estimates & Trend Analysis
Chapter 6. Smoking Cessation and Nicotine De-addiction Market: Distribution Channel Type Estimates & Trend Analysis
Chapter 7. Smoking Cessation and Nicotine De-addiction Market : Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- Rusan Pharma Ltd
- Dr. Reddy’s Laboratories Ltd
- Imperial Brands Plc
- Zydus Group.
- British American Tobacco Plc
- Perrigo Company Plc
- Johnson and Johnson Inc
- NJOY, LLC
- Cipla Ltd
- GlaxoSmithKline Plc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 25.46 Billion |
| Forecasted Market Value ( USD | $ 50.9 Billion |
| Compound Annual Growth Rate | 10.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
