Smoking Cessation Aids Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4174
Smoking Cessation Aids Market size is projected to experience significant growth from 2019 to 2025.
Increasing number of alternative products to cigarettes, such as vaping devices and e-cigarettes, will enhance the demand for smoking cessation aids market growth in the near future. In the past few years, more users started switching to vaping devices to quit cigarettes. The vaping devices and e-cigarettes are considered to be less harmful than the normal cigarettes but provide a similar experience.
Rise in awareness among the people regarding smoking related health problems has resulted in boosting the demand and adoption rate of smoking cessation aids products, fueling the business growth. Several campaigns are creating an opportunity to raise awareness among the users regarding the the harmful and fatal effects of tobacco use and second-hand smoke exposure. Hence, rise in number of awareness campaigns have boosted the use of smoking cessation aids products.
However, the cost of the products such as vaping devices and e-cigarettes will major market hindering factor. High cost of these devices will refrain the users from buying smoking cessation aids. Also, lack of awareness among the people in the rural areas of developing and under-developed region will play impede the business growth.
E-cigarettes market is estimated to hold significant market share. E-cigarettes have got quite famous and have attracted a lot of attention recently as an alternative way to quit smoking traditional cigarettes. Hence, rise in number of people opting for e-cigarettes than normal cigarettes will boost the business growth in the near future.
Distribution of smoking cessation aid products via e-commerce is estimated to show rapid growth in the near future. Increase in number of smart phone users, internet penetration rate and expansion of online shopping sites will enhance the market growth over the forthcoming years.
U.S. is projected to dominate the North America smoking cessation aids market growth in the near future. As per the Center for Disease Control and Prevention (CDC), estimated 34 million people in the country currently some and around 16 million of the Americans live with a smoking related disorder. Also, cigarette smoking is one of the major leading cause of preventable disease and mortality, accounting for around half million deaths annually. Hence, growing prevalence of smoking related disorders will augment the business growth in the near future.
China smoking cessation aids market is estimated to show rapid growth over the upcoming years. High economic growth, several market opportunities due to geographical business expansions, high unmet needs and large untapped market opportunities, and the presence of a large base of the target smokers population are some of the major factors that will contribute to the market growth in this region.
Some of the important industry players are Pfizer, GlaxoSmithKline, Cipla, Novartis, McNeil AB, Revolymer, Takeda Pharmaceutical among others. These industry players mainly focus on expanding their market presence by initiating several strategies such as mergers, acquisitions, new product launch, new product developments, partnerships, and collaborations.
Smoking Cessation Aids Market, By Product, 2014-2025 (USD Million)
- Nicotine Replacement Therapy (NRT)
- NRT Gum
- NRT lozenges
- NRT Inhalers
- NRT Patches
- Electronic Cigarettes
Smoking Cessation Aids Market, By Distribution Channel, 2014-2025 (USD Million)
- Hospital Pharmacies
- Retail Pharmacies
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- McNeil AB
- Takeda Pharmaceutical Company
- Imperial Tobacco
- VMR products
- Johnson & Johnson
- Perrigo Company
- Cambrex Corporation
- Reynolds American
- ITC Limited
- Fertin Pharma
- Cardinal Health (Rugby Laboratories)
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