Nicotine Replacement Therapy Market: Current Analysis and Forecast (2021-2027)

Nicotine Replacement Therapy Market: Current Analysis and Forecast (2021-2027)

The nicotine replacement therapy is expected to witness a CAGR of around 14% during the forecast period (2021–2027). Nicotine replacement therapy (NRT) is effective in helping people quit smoking through patches, inhalers, gums, sprays, and lozenges that are free of the toxic compounds found in tobacco. Factors that are accelerating its market growth such as growing awareness programs by the government, rising chronic diseases such as respiratory diseases, and cardiovascular diseases coupled with the increasing young population addicting to smoking or tobacco consumption are accentuating the market size of nicotine replacement therapy. In addition, technological advancements in the NRT market are continuing, resulting in an increase in the number of people moving to advanced products. The acceptance of NRT is anticipated to be aided by new innovations such as heat-not-burn products, flavored chewing gums, and lozenges are propelling the market growth.

Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, AstraZeneca, Johnson & Johnson Private Limited, Merck & Co. Inc., and Cipla Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new and advanced nicotine replacement therapy.

Insights Presented in the Report
"Amongst type, gums category accounted for the majority share in the market in 2020”

Based on type, the nicotine replacement therapy market is segmented into gums, patches, lozenges, inhalers, and others. In 2020, The gums category is anticipated to witness a significant growth rate over the forecast period owing to the rising prevalence of chronic diseases, increasing awareness of smoking & tobacco consumption, and the introduction of technologically advanced products are the factors driving the demand for nicotine replacement therapy. Therefore, increasing awareness worldwide is anticipated to increase the NRT product's sales during the forecast period. Furthermore, The World Health Organization (WHO) Framework Convention on Tobacco Control (WHO FCTC) is the first international public health treaty negotiated under WHO auspices. This treaty contains guidelines and requirements for the implementation of the most cost-effective tobacco control measures available necessary for reducing the smoking epidemic.
"Amongst distribution channel, offline category is expected to witness highest CAGR during the forecast period”

Based on distribution channel, the nicotine replacement therapy market is categorized into online pharmacies and offline pharmacies. In 2020, the offline category dominated the market. This is mainly due to the increased number of patients who are suffering from chronic diseases such as cancer, respiratory disease, and excessive smoking habits. For instance, according to the Centers for Disease Control and Prevention (CDC), People who smoke cigarettes are 15 to 30 times more likely to get lung cancer or die from lung cancer than people who do not smoke. These factors will increase sales of NRT products & spread awareness about the importance of prohibiting smoking. In addition, online pharmacies are projected to witness the fastest growth during the forecast period. Furthermore, the flexibility, comfort, and convenience provided by the online purchase of medications are major factors driving the segment.
"North America to witness significant growth during the forecast period”

For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. This is mainly due to the rising adoption rate of NRT products, heated tobacco, and well-established healthcare infrastructure are some key factors that will drive the market growth rate in this region. Furthermore, to reduce smoking & tobacco consumption the U.S. Food and Drug Administration (FDA) approved nicotine replacement therapy by introducing products such as nicotine gums, patches, lozenges, and others. pharmaceutical companies GlaxoSmithKline and Johnson & Johnson have been supplying products worldwide.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.


1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Limitation
1.3. Stake Holders
1.4. Currency used in Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Nicotine Replacement Therapy Market
2.2. Research Methodology of the Nicotine Replacement Therapy Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main Objective of the Nicotine Replacement Therapy Market Study
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 NICOTINE REPLACEMENT THERAPY MARKET COVID-19 IMPACT
6 NICOTINE REPLACEMENT THERAPY MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY TYPE
7.1. Gums
7.2. Patches
7.3. Lozenges
7.4. Inhalers
7.5. Others
8 MARKET INSIGHTS BY DISTRIBUTION CHANNEL
8.1. Hospitals Pharmacy
8.2. Retail Pharmacy
8.3. Online Pharmacy
9 MARKET INSIGHTS BY REGION
9.1. North America Nicotine Replacement Therapy Market
9.1.1. U.S.
9.1.2. Canada
9.1.3. Rest of America
9.2. Europe Nicotine Replacement Therapy Market
9.2.1. Germany
9.2.2. U.K.
9.2.3. France
9.2.4. Spain
9.2.5. Italy
9.2.6. Rest of Europe
9.3. Asia-Pacific Nicotine Replacement Therapy Market
9.3.1. China
9.3.2. India
9.3.3. Japan
9.3.4. Australia
9.3.5. Rest of Asia-Pacific
9.4. Rest of the world Nicotine Replacement Therapy Market
10 NICOTINE REPLACEMENT THERAPY MARKET DYNAMICS
10.1. Market Drivers
10.2. Market Challenges
10.3. Impact Analysis
11 NICOTINE REPLACEMENT THERAPY MARKET OPPORTUNITIES
12 NICOTINE REPLACEMENT THERAPY MARKET TRENDS
13 LEGAL & REGULATORY FRAMEWORK
14 DEMAND AND SUPPLY SIDE ANALYSIS
14.1. Demand Side Analysis
14.2. Supply Side Analysis
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
16.1. Competitive Landscape
16.1.1. Porter’s Five Forces Analysis
17 COMPANY PROFILED
17.1. Pfizer Inc.
17.2. GlaxoSmithKline plc
17.3. Novartis AG
17.4. Mylan N.V.
17.5. Teva Pharmaceutical Industries Ltd.
17.6. Sanofi
17.7. AstraZeneca
17.8. Johnson & Johnson Private Limited
17.9. Merck & Co., Inc.
17.10. Cipla Inc.
18 DISCLAIMER

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