Smoking cessation therapy Market (By Product: Nicotine Replacement Therapy [Gum, lozenges, Inhalers, Patches, Sprays], Drugs, Electronic Cigarettes, Others; By Sales Channel: Hospital Pharmacies, Online Channel, Retail Pharmacies, Other) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

The market for smoking cessation therapy is expected to grow at a CAGR of around 15.7% from 2020 to 2027 and expected to reach the market value of around US$ 43.6 Bn by 2027.

Smoking cessation therapy is the process of discontinuing tobacco smoking addiction. Tobacco smoke contains nicotine which is addictive, and sudden withdrawal from it can often make the process of smoking cessation therapy difficult. One of the major ways helps in smoking cessation include nicotine replacement therapy or the replacement of the nicotine consumption with other means like nicotine gum, lozenges, nasal sprays, or inhalers, that can avoid trigger situations like urge to smoke. Additionally, some of the major benefits associated with the smoking cessation include better health, betting family, and money saving among others. Moreover, the popularity of electronic cigarettes or e-cigarettes among the population as an alternative of smoking is supporting the smoking cessation initiatives.

Market Dynamics

The increasing government initiatives to implement the anti-smoking policy and to spread awareness regarding the health complications associated with smoking, The World Health Organization (WHO) has initiated a program named ‘Tobacco Free Initiative’, which includes the implementation of plain packaging, particularly to reduce the attractiveness of the product, additionally the screening of documentaries and videos to inform the public about the hazards of smoking. The use of tobacco can lead to tobacco/nicotine dependence and serious health problems. As tobacco smoke contains a deadly mix of more than 7,000 chemicals, hundreds of them are harmful, and about 70 can cause cancer. Whereas, quitting smoking reduces the risk of developing smoking-related diseases. The Food and Drug Administration (US) has launched an adult smoking cessation therapy education campaign in 2017 aimed at encouraging cigarette smokers to stop smoking. According to the Centers for Disease Control and Prevention (CDC), in 2017, 14 of every 100 US adults aged 18 years or older (14.0%) smoke cigarettes.

On the other hand, the strong dependency of smokers on smoking cravings and side effects associate with smoking cessation like headaches, nausea, tingling in hands and feet, irritability, frustration, anger, and constipation are restraining the growth in the market.

Segment Instance

North America registered maximum revenue share in the Smoking cessation therapy Market

In 2019, North America accounted for the maximum revenue share (%), and the region is also projected to maintain its dominance over the forecast period from 2020 to 2027. The increasing initiatives for spreading awareness about stopping smoking by the major authorities like FDA and WHO are supporting the regional market value. The large percentage of people in US is involved in smoking is the factor supporting the regional market value. According to the 2019 data of U.S. Department of Health & Human Services, around 34.1 million adults in the United States smoke cigarettes and more than 16 million Americans live with a smoking-related disease. Furthermore, Asia Pacific is projected to exhibit the fastest growth (%) over the forecast period from 2020 to 2027. The developing economies including China and India are supporting the regional market growth during the estimated period.  

Key Market Players

The players profiled in the report include Bayer AG (Germany), Cipla Ltd (India), F. Hoffmann-La Roche AG (Switzerland), GlaxoSmithKline plc (UK), Imperial Tobacco Ltd. (UK), Johnson and Johnson (US), NJOY (US), Novartis AG (Switzerland), Pfizer, Inc. (US), Reckitt Benckiser Plc (UK), Revolymer plc, Takeda Pharmaceutical Company Ltd. (Japan), VMR Products, LLC. (US), and others.

Market Segmentation

Market By Product

Nicotine Replacement Therapy

  • NRT Gum
  • NRT lozenges
  • NRT Inhalers
  • NRT Patches
  • Sprays

Drugs

Electronic Cigarettes

Others

Market By Sales Channel

Hospital Pharmacies

Online Channel

Retail Pharmacies

Other Sales Channel

Market By Geography

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


Frequently Asked Questions

The market for smoking cessation therapy is expected to reach a market value of around US$ 43.6 Bn by 2027.

The smoking cessation therapy market is expected to grow at a CAGR of around 15.7% from 2020 to 2027.

Electronic Cigarettes is the fastest growing segment by product in the smoking cessation therapy market

The increasing government initiatives to implement the anti-smoking policy, ‘Tobacco Free Initiative’ by WHO, which includes the implementation of plain packaging, particularly to reduce the attractiveness of the product, use of tobacco can lead to tobacco/nicotine dependence and serious health problems are the factors driving the market growth.

Bayer AG (Germany), Cipla Ltd (India), F. Hoffmann-La Roche AG (Switzerland), GlaxoSmithKline plc (UK), Imperial Tobacco Ltd. (UK), Johnson and Johnson (US), NJOY (US), Novartis AG (Switzerland), Pfizer, Inc. (US), Reckitt Benckiser Plc (UK), Revolymer plc, Takeda Pharmaceutical Company Ltd. (Japan), and VMR Products, LLC.(US) are some of the prominent players in the smoking cessation therapy market.

North America held the highest market share in the smoking cessation therapy market

Asia Pacific is expected to be the fastest growing market over the forecast period

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