Australia Nicotine Replacement Therapy Market Size, Share & Trends Analysis Report By Product (Nicotine Replacement Therapy, E-Cigarettes), By Distribution Channel (Online, Offline), And Segment Forecasts, 2024 - 2030

Australia Nicotine Replacement Therapy Market Size, Share & Trends Analysis Report By Product (Nicotine Replacement Therapy, E-Cigarettes), By Distribution Channel (Online, Offline), And Segment Forecasts, 2024 - 2030

Australia Nicotine Replacement Therapy Market Growth & Trends

The Australia nicotine replacement therapy market size is projected to reach USD 226.74 million by 2030, and is anticipated to register a CAGR of 4.10% from 2024 to 2030, according to a new study by Grand View Research, Inc. Increasing emphasis on smoking cessation programs coupled with growing awareness about the ill effects of tobacco consumption are expected to fuel the market growth during the forecast period.

Smoking cessation laws and campaigns are also playing a crucial role in increasing awareness about diseases caused due to smoking. For instance, in September 2023, the Australian Government introduced tobacco control legislation in the parliament to fight against nicotine and tobacco addiction. In addition, global organizations such as the World Health Organization are also working toward creating awareness by running online campaigns. Public health campaigns employ powerful imagery and real-life stories to vividly convey the health risks associated with smoking. Healthcare professionals play a pivotal role by discussing the links between smoking and severe illnesses with patients. Schools integrate anti-smoking messages into their curricula, emphasizing the impact of smoking on health, social life, and future prospects.

Furthermore, according to a study published by the Australian Institute of Health and Welfare in 2023, people aged 40 years and above are likely to smoke 20+ cigarettes per day in the country. However, after understanding its negative impact on health, people are opting for cessation therapies. For instance, according to a study published by the government of Australia in 2023, the volume of cigarettes consumed in 2023 was much less than in 2017. Australia increasingly emphasized smoking cessation as a significant public health priority. The country recognizes the profound impact of tobacco use on individual health & the broader healthcare system. As part of its commitment to reducing smoking rates, Australia has implemented a multifaceted approach.

However, a stringent regulatory framework for the sale and marketing of NRT products is expected to act as a restraint to the market. The use of e-cigarettes is highly regulated and restricted for certain applications. For instance, the utilization of e-cigarettes containing nicotine requires a mandatory prescription. Australia's regulatory stance on nicotine-containing products has undergone changes and adjustments to achieve a balance for promoting harm reduction & addressing public health concerns. The regulations aim to provide clarity and accountability while also acknowledging the potential benefits of harm-reduction strategies for smokers.

Australia Nicotine Replacement Therapy Market Report Highlights

• Based on product, the nicotine replacement therapy segment held the largest revenue share in 2023 owing to the lucrative subsidies, product availability, and innovative products. Furthermore, industry developments such as distribution agreements are also projected to offer a favorable environment for segment growth
• Based on distribution channel, the offline segment dominated the market in 2023. Substantial emphasis of the people to get advice about nicotine replacement therapy products and buying convenience are estimated to drive offline segment growth during the forecast period
• The online distribution channel segment in the Australia NRT market is expected to witness considerable growth due to consumer preferences, user-friendly platforms, faster shipping, and optimum prices

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