Smoking Cessation and Nicotine De-Addiction Therapeutics Market Size, Competitive Landscape and Market Forecast - 2029

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> Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market Expected to reach at a high CAGR by 2029: DataM Intelligence

Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market is segmented  By Product Type(Nicotine Replacement Therapy, Drug Therapy, E-Cigarettes), By Distribution Channel, and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2022-2029

 

Market Overview

The Global "Smoking Cessation and Nicotine De-Addiction Therapeutics Market" is expected to grow at a high CAGR during the forecasting period ( 2022-2029).

  • Nicotiana tabacum, the type of nicotine found in tobacco plants, comes from the nightshade family. While not cancer-causing or excessively harmful on its own, nicotine is massively addictive and exposes people to the extremely adverse effects of tobacco dependency, and is one of the most commonly abused drugs.

  • Nicotine addiction affects drug-reinforced behavior, compulsive use, and relapse following abstinence, and smoking cessation or nicotine de-addiction involves tobacco discontinuation. Nicotine withdrawal symptoms include depressed mood, stress, difficulty in concentrating, irritability, anxiety, and sleep disturbances.

Market Dynamics

  • The global market for the Smoking Cessation and Nicotine De-Addiction Therapeutics Market is primarily driven by the rising awareness about smoking health hazards such as the increasing prevalence of cardiac diseases, respiratory disorders, and lung cancer stemming from smoking.

  • The growing issues of high dependency on nicotine and consequently the health problems caused by it have led to many opportunities in the global market for smoking cessation and nicotine de-addiction. O

  • the factors aiding the market growth are the Introduction of new products, advancements in novel technologies, and the rise in demand for therapeutic.

  • The increase in initiatives from governments and the growth in GDP and disposable income along with favorable reimbursement policies for smoking cessation therapy is anticipated to fuel the growth of the market.

  • Furthermore, the research and development around nicotine de-addiction and market expansion in developing economies stimulate the growth of smoking cessation and the nicotine de-addiction industry.

  • However, the low awareness about smoking cessation products in developing economies and legal restrictions on the products may hinder the market progress.

Market Segmentation

  • The smoking cessation and nicotine de-addiction market are segmented into three major segments including Nicotine Replacement Therapy (NRT), drug therapy, and Electronic cigarettes (E-cigarettes).

  • By NRT, the market is sub-segmented into over-the-counter (OTC) and prescription. The OTC share comprises nicotine spray, nicotine inhalers, nicotine gum, and nicotine transdermal patches. The prescription share contains nicotine sublingual tablets and nicotine lozenges.

  • The NRT share holds the most significant segment in this sector owes it to its increased accessibility, its simplicity in use, and its efficiency in reducing the nicotine craving in smokers. Particularly nicotine gums are readily available in the market, and it will likely drive the overall growth of the NRT segment during the forecast period. Nicotine patches are preferred by many for de-addiction as they provide a steady transdermal infusion of nicotine.

  • Nicotine sublingual tablets and nicotine lozenges are also driving the market share as they have potential advantages of allowing the smoker to regulate the amount and timing of dosing. It may allow smokers to use acute dosing as a rescue medication to combat acute episodes of craving.

  • Drug therapy, the share includes Varenicline and Zyban. Varenicline is a non-nicotine-based drug that is effective in assisting smoking cessation, and Zyban is another broadly used drug. It is used in combination with NRT for useful results.

  • E-cigarettes are projected to be the most lucrative among all product type segments in the global smoking cessation and nicotine de-addiction market owing to it to their increasing popularity backed by their automatic feature. E-cigarettes are considered a healthy substitute for tobacco cigarettes as they are with a convenient rechargeable feature. The largest share for E-cigarettes is in North America and Europe.

  • Moreover, the consideration that e-cigarettes produce no smoke and thus no risk of second-hand smoking can be used in no-smoking places, availability in varying nicotine levels and various flavors are some of the major driving factors for e-cigarettes share.

Geographical Share

  • North America is the dominant share in the global Smoking Cessation and Nicotine De-Addiction Therapeutics Market, and it is primarily attributed to the rising number of smokers and increasing awareness among the population on nicotine addiction effects.

  • The growing research funding and government initiatives to create awareness against the ill effects of smoking are other factors that help the market see profitable growth. Moreover, its broad base of the patient population and the established healthcare infrastructure, and the rising disposable income contribute to the growth of North America’s share.

  • According to the Centers for Disease Control and Prevention (CDC), in 2017, 14 of every 100 U.S. adults aged 18 plus years smoked cigarettes. This estimated 34.3 million adults in the United States smoke cigarettes and over 16 million Americans live with a smoking-related disease.

  • Asia-Pacific region is expected to be the fastest-growing market during the forecast period, owing to increase awareness and the region’s rapidly improving healthcare infrastructure, and the presence of a broad base of the target population.

  • The high economic growth, geographic business expansions of market players, and the increasing government initiatives also boost the Smoking Cessation and Nicotine De-Addiction Therapeutics Market in the Asia Pacific region.

  • For instance, in 2015, the WHO introduced the ‘national smoke-free law’ in the area to decrease the number of active smokers.

Competitive Trends

  • Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with an increased focus on R&D are other ways the leading players improve their market presence. Key players are also bolstering their networks of distribution to expand the geographical scope of their products.

  • February 2019, Director General of ESMA announced that E-cigarettes would be legal in UAE from mid-April 2019. Up until now, the sale of electronic nicotine delivery systems (ENDS) has been illegal in the UAE.

  • February 2018, Imperial Brands PLC, via subsidiary Fontem Ventures, launched its new e-vapor product in the USA. The blue device is a pod-based system that provides consumers with power, performance, and simplicity in a compact and user-friendly design. myblu can be fully charged in only 20 minutes and is supported by a lifetime device warranty,myCARE.

  • January 2015, McNeil introduced QuickMist, a new product in Germany, which is a fast-acting nicotine spray that replaces tobacco and supports smoking cessation.

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