Smoking Cessation and Nicotine De-addiction Products Market: Rising Popularity of E-Cigarettes behind Rise in Successful Attempts to Quit Smoking
Transparency Market Research has published a new market report titled, “Smoking Cessation and Nicotine De-addiction Products Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.” According to the report, global smoking cessation and nicotine de-addiction products market was valued at US$ 6.5 Bn in 2014 and is anticipated to expand at a CAGR of 13.7% from 2015 to 2023 to reach US$ 20.5 Bn by 2023.
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The report provides detailed analysis of current and emerging market trends associated with for global smoking cessation and nicotine de-addiction products market, bifurcating them based on type of products. Cigarette smoking is a chronic problem across the globe. There is increased focus on adverse economic and health impact of smoking. Tobacco contains nicotine which is addictive, and thus, tobacco smoking may lead to nicotine addiction. Smoking cessation aids mainly include nicotine replacement therapy (NRT) products and drugs which may be coupled with counselling and psychotherapy. However, certain nicotine withdrawal symptoms are observed during the process of smoking cessation which include anxiety and irritability, due to which the person may again start smoking.
The first line treatment for smoking cessation comprises either nicotine replacement therapy (NRT) products or drug therapy. However, recently people willing to quit smoking are also seen preferring e-cigarettes instead of NRT and drugs. E-cigarettes provide smokers with the same feeling as that with cigarettes, however are known to assist in lowering nicotine addiction, though there has been a lot of debate about categorization of e-cigarette as a smoking cessation aid. The major setback is expected to affect the global smoking cessation and nicotine de-addiction products market due to loss of patent exclusivity of the most recognized brand Zyban (bupropion) during the forecast period in the year 2013, and to a certain extent due to Chantix/Champix (varenicline) at the end of the forecast period. The market for smoking cessation and nicotine de-addiction products has been categorized on the basis of prominently used product types: nicotine replacement therapy (NRT), drug therapy and e-cigarettes. The NRT segment includes nicotine containing gums, patches, lozenges, sublingual tablets, inhalers and mouth sprays, of which, gums, patches and lozenges contribute to maximum revenue. The e-cigarette segment will exhibit fastest growth and thus, is expected to boost the global smoking cessation and nicotine de-addiction products market. E-cigarettes have proved to be a better alternative to cigarettes whose smoke contains various harmful gases and cause dreadful diseases such as cancer. However, many countries from regions such as Southeast Asia, and Europe have banned the sales of E-cigarettes.
The market for NRT products is consolidated with the top players capturing over major share with key players such as Johnson & Johnson, GSK, and Pfizer. The drug therapy market is dominated by GSK and Pfizer. The key players in the e-cigarette market include NJOY, VMR Products LLC, Lorillard, Inc., and Nicotek LLC.
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