Nicotine Replacement Therapy Market Analysis - Global Industry Size, Share, Trends and Forecast 2020 - 2027

When a person uses tobacco, many parts of the body get used to having nicotine in them. Nicotine replacement therapy is majorly for the person addicted to high consumption of nicotine.

Market Dynamics

Increasing mortality due to cigarette smoking and consumers focus towards adoption of healthy lifestyle is resulting in demand for various therapies which is major factor expected to drive the growth of global nicotine replacement therapy market. According to U.S. Department of Health & Human Services Cigarette smoking is responsible for more than 480,000 deaths per year in the United States, including more than 41,000 deaths resulting from secondhand smoke exposure. This is about one in five deaths annually, or 1,300 deaths every day. According to the Global Adults Tobacco Survey (GATS) for India 2016-2017, 28.6% (266.8 million) of all adults (42.4% of men and 14.2% of women) currently use smoking and/or smokeless tobacco products. Consumers demand for cigarette different taste is increasing; Manufacturers are introducing various products and are investing high for advertising.  In the US $9.06 billion was spent on advertising and promotion of cigarettes and smokeless tobacco combined about $25 million every day, and more than $1 million every hour. Major players are investing high for R&D activities and focused on introduction of new solutions in order to attract customer this is expected to augment the growth of nicotine replacement therapy market.

In 2017, Glenmark Pharmaceuticals Limited, a global pharmaceutical company launched Kwitz, a medically approved nicotine replacement therapy that helps smokers embark on a step by step journey towards a smoke-free life. This product launch is expected to help the company to enhance the business are increase the revenue share.

In 2017, Cipla Health Limited, an Indian pharmaceutical company launched Nicotex Nicotine Patches. The product is a skin/transdermal patch that works on the proven principle of Nicotine Replacement Therapy (NRT) and helps you quit smoking in 12 weeks. This product launch is expected to help the company to increase the revenue and enhance the product portfolio.

Enterprises focus on enhancing the business presence and strengthen the distribution channel through partnership & agreement is another factor expected to augment the growth of nicotine replacement therapy market. In 2020, Strides Consumer Pvt Ltd is expected to enter into the North India markets with the launch of over-the-counter (OTC) product NIXIT. NIXIT is a nicotine replacement therapy (NRT) gum; the product launch is expected to help the company to enhance the business presence.

Major players approach towards developing countries in order to track the untapped market and various awareness camps by the government are factors expected to impact the growth of target market. Factors such as side effects of therapy products and stringent government regulations related to product approval are expected to hamper the growth of global nicotine replacement therapy market. In addition, lack of awareness among consumers of developing countries is expected to challenge the growth of nicotine replacement therapy market. However, flourishing healthcare sector across the globe, rise in awareness activities by the government and increasing investment by major players development of enhanced therapy acre factor expected to create new opportunities for players operating in the nicotine replacement therapy market over the forecast period. In addition, increasing partnerships between regional and international players is expected to support the revenue transaction of the target market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share in the global nicotine replacement therapy market due to high percentage of cigarette smoking consumers. In addition, increasing government spending on awareness activities and availability of advanced care facilities in order to adopt advanced therapy are factors expected to augment the growth of nicotine replacement therapy regional market.

Major players approach towards business development through strategic merger and acquisitions is another factor expected to support the growth of target market.

Competitive Landscape      

The global nicotine replacement therapy market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market	Global Nicotine Replacement Therapy Market
Analysis Period	2016 – 2027
Base Year	2019
Forecast Data	2020 – 2027
Market Stratification	Product Type, Distribution Channel and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Nicotine Replacement Therapy Market Segment Analysis, 2019

The global nicotine replacement therapy market is segmented into product type and distribution channel. The product type segment is bifurcated into gums, patches, lozenges, inhalers, and others. Among the product type gums segment is expected to account for major revenue share in the target market due to high consumer approach towards consumption of gums and introduction of innovative solutions form major players. The distribution channel segment is divided into hospitals pharmacy, retail pharmacy, and online pharmacy. Among the distribution channel the online pharmacy segment is expected to account for major revenue share in the target market. The players profiled in the report are GlaxoSmithKline plc, Johnson & Johnson Inc., Perrigo Company plc., Pierre Fabre SA, Laboratories, Pfizer Inc., Cipla Limited, and British American Tobacco Plc.

Market Segmentation

Market By Product Type

Gums

Patches

Lozenges

Inhalers

Others

Market By Distribution Channel

Hospitals Pharmacy

Retail Pharmacy

Online Pharmacy

Market By Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa