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Nicotine Replacement Therapy Market

Nicotine Replacement Therapy Market Forecasts to 2028 – Global Analysis By Product (Nicotine Replacement Therapy, E-Cigarettes), Distribution Channel (Online Pharmacies, Offline) and By Geography

4.8 (75 reviews)
Published: June 2021 ID: SMRC20585
4.8 (75 reviews)
Published: June 2021 ID: SMRC20585

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Nicotine Replacement Therapy Market is accounted for $44.20 billion in 2020 and is expected to reach $169.55 billion by 2028 growing at a CAGR of 18.3% during the forecast period. Increasing demand for technological advancements and a rise in awareness about the ill-effects of smoking is driving the market growth. However, the stringent regulatory framework may hamper the growth of the market.

Nicotine replacement therapy is a treatment given to people for the cessation of cigarettes. It uses products that supply nicotine at its low dose that contains a high amount of nicotine which as a result causes lung cancer, asthma, and other chronic diseases. Nicotine replacement therapy helps to decrease or avoid consumption of tobacco, intensity, and minimizing craving frequency.

Based on the product, the e-cigarettes segment is going to have lucrative growth during the forecast period due to increasing investments and the rising focus of companies on developing value-added products. By geography, Asia Pacific is going to have high growth during the forecast period due to the favorable government initiatives, coupled with an evolving reimbursement landscape for pharmaceutical products.

Some of the key players profiled in the Nicotine Replacement Therapy include British American Tobacco p.l.c, Cipla Inc, Fertin Pharma, Glenmark, Japan Tobacco, Inc, Pfizer, Inc, and Philip Morris Products S.A .

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 44.20 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

18.3%

Predicted 2028 Value:

USD 169.55 billion

Forecast Years:

2021-2028

Tables, Graphs & Figures

104

Chapters Covered:

Product, Distribution Channel and Region

Core Drivers and Opportunities:

  • Increasing incidence of chronic disease
  • Technological advancements in the nicotine replacement therapy
  • Rise in awareness about the ill-effects of smoking

Restraining Factors & Market Threats:

  • The ban on e-cigarettes
  • Product cost is high


Product Covered:
• Nicotine Replacement Therapy
• E-Cigarettes
• Heat-not-Burn Tobacco Products
  
Distribution Channels Covered:
• Online Pharmacies
• Offline

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

Key Questions Answered In The Report

The Global Nicotine Replacement Therapy Market is majorly driven by increasing incidence of chronic disease, technological advancements in the nicotine replacement therapy, and increasing government initiatives to promote nicotine replacement therapy (NRT).

The e-cigarettes segment is growing at a highest CAGR due to increasing investments and rising focus of companies on developing value-added products.

North America dominated with a significant market share due to the factors such as increasing number of people that desire to quit smoking and increase in the number of favorable government initiatives.

Asia Pacific market is growing at a highest CAGR due to increase in population of smokers and increasing awareness among people.

Key players in Nicotine Replacement Therapy Market include British American Tobacco p.l.c, Cipla Inc, Fertin Pharma, Glenmark, Japan Tobacco, Inc, Pfizer, Inc, and Philip Morris Products S.A.

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