Smoking Cessation & Nicotine De-Addiction Product Market Expected to Reach USD 53.87 Billion by 2030

DUBLIN, March 6, 2024 /PRNewswire/ — The “Global Smoking Cessation & Nicotine De-Addiction Product Market by Product (Drug Therapy, E-Cigarettes, Nicotine Inhalers), Distribution (Drug Store, Hospital Pharmacies, Online Pharmacies) – Forecast 2023-2030” report has been added to ResearchAndMarkets.com’s offering.

The Smoking Cessation & Nicotine De-Addiction Product Market size was estimated at USD 25.85 billion in 2022, USD 28.25 billion in 2023, and is expected to grow at a CAGR of 9.61% to reach USD 53.87 billion by 2030. 

The detailed market study incorporates an FPNV Positioning Matrix to evaluate the marketplace meticulously, aiding stakeholders in making knowledgeable decisions. By assessing various vendors based on business strategy excellence and product satisfaction, the Matrix delineates their strengths and areas for potential improvement.

Key Market Dynamics

Drivers

• Growing Prevalence of Numerous Diseases due to Smoking Such as Respiratory Disorders and Lung Cancer
• Expanding Market Penetration of De-Addiction Products Globally
• Favorable Government Initiatives to Promote Anti-Smoking Policy and Raising Awareness of the Health Impact due to Smoking

Restraints

• Product Recalls by the Manufacturer and Companies owing to increasing Technical Faults and Stringent Approval Process

Opportunities

• Increasing Approvals and Development of New Nicotine Replacement Products
• Significant Online Market Presence Coupled with Social and Communal Support for Smoking Cessation Products

Challenges

• Side Effects Associated with the Continued Usage of De-Addiction Products Coupled with Rising of Alternatives to Tobacco

The Market Share Analysis addresses the competitive landscape, providing a lens through which companies can understand their standing in terms of revenue and customer reach. Insightful indicators from the Market Share Analysis spotlight the dynamism within the industry, where trends of accumulation, fragmentation, dominance, and amalgamation are observed.

Furthermore, the report profiles key players shaping the industry. These detailed Key Company Profiles analyze significant moves and advancements by major vendors such as pharmaceutical giants and innovative product manufacturers who are pivotal in driving the market forward.

Report Scope:

• Market Penetration: Furnishing in-depth insights provided by industry leaders.
• Market Development: Scrutiny of growth avenues in both established and emerging sectors.
• Market Diversification: Examining recent product launches and the potential of untapped regions.
• Product Development & Innovation: Providing foresight into the future of technology and R&D pursuits.

Addressing pivotal questions, the report aids in assessing market scope, technological evolution, and competitive landscapes. It also discerns which strategies could prove favorable for entrance into the Smoking Cessation & Nicotine De-Addiction Product Market.

As millions globally seek effective means to combat nicotine addiction, the market for cessation and de-addiction products stands on the cusp of substantial growth, underscoring the importance of detailed market intelligence for industry stakeholders.

Market Segmentation & Coverage

This research report categorizes the Smoking Cessation & Nicotine De-Addiction Product Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product

• Drug Therapy
  • Chantix (Varenicline)
  • Zyban (Bupropion)
• E-Cigarettes
• Nicotine Inhalers
• Nicotine Replacement Therapies
  • Nicotine Gums
  • Nicotine Lozenges
  • Nicotine Sprays
  • Nicotine Transdermal Patches
• Nicotine Sublingual Tablets

Distribution

• Drug Store
• Hospital Pharmacies
• Online Pharmacies
• Retail Pharmacies

Companies Profiled

• 22nd Century Group
• Alkalon
• Axsome Therapeutics
• British American Tobacco
• Cipla Ltd.
• Ditch Labs
• Dr. Reddy’s Laboratories Limited
• Enorama Pharma
• GlaxoSmithKline
• Imperial Tobacco Company of India
• Itaconix
• Japan Tobacco
• Johnson & Johnson
• JUUL Labs
• NJOY
• Novartis International
• Perrigo Company
• Pfizer
• Philip Morris International
• Pierre Fabre
• Rusan Pharma
• Samyang Holdings
• Sparsha Pharma International
• Strides Pharma Science
• Takeda Pharmaceutical

For more information about this report visit https://www.researchandmarkets.com/r/uhxv0a

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SOURCE Research and Markets