Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market - 2019-2026
Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market Overview
The global smoking cessation and nicotine de-addiction therapeutics market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
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.
Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market – 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 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. Other 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 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.
Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market – Segment Analysis
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. 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.
By 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 it to its increasing popularity backed by its electronic feature. E-cigarettes are considered as a healthy substitute to 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.
Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market– Geographical Analysis
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), 2017, 14 of every 100 U.S. adults aged 18 plus years smoked cigarettes. This estimates to 34.3 million adults in the United States smoke cigarettes and over than 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.
Global Smoking Cessation and Nicotine De-Addiction Therapeutics Market– Competitive Analysis
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 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 will 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-vapour product in the USA. The myblu 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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