LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global smoking cessation products market report. This research report also lists 28 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global smoking cessation products market is highly competitive, with the presence of numerous small and large vendors operating at a local or global scale. The major vendors competing in the market are GlaxoSmithKline, Imperial Tobacco, NJOY, Pfizer, and Reynolds American. Vendors are forming strategic alliances to manufacture and market drugs. New players such as NAL Pharmaceuticals, 22nd Century Group, and Arena Pharmaceuticals are entering the market sighting the growth opportunities in the market.
“Tobacco manufacturing companies such as Big Tobacco are entering the e-cigarettes market, increasing the market competition, thereby resulting in pharmaceutical companies losing their market shares in the global smoking cessation products market. Any company that manufactures and develops efficient and safe smoking cessation products is expected to gain a competitive edge over its peers,” says Barath Palada, a lead analyst at Technavio for cardiovascular and metabolic disorders.
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Top five smoking cessation products market vendors
GlaxoSmithKline was founded in 2001 and is headquartered in Brentford, England, UK. The company manufactures and markets pharmaceutical products, which include OTC products, vaccines, and health-related consumer products worldwide.
In June 2015, Perrigo entered into an agreement to acquire well-established OTC brands from GlaxoSmithKline's consumer healthcare business. The initiative is a result of a three-part transaction of the company with Novartis.
In March 2015, the company completed a major transaction with Novartis, including the creation of a leading consumer healthcare joint venture in which the company will have an equity interest of 63.5%.
Imperial Tobacco was founded in 1901 and is headquartered in Bristol, England, UK. The company offers products such as cigarettes, fine cut tobaccos, filter tubes, rolling papers, and cigars. It has around 33,900 employees and 44 manufacturing sites worldwide. In FY2014, the company reported a revenue of USD 39.06 billion.
- February 2015: Launches the e-cigarette Jai in France
- March 2014: Files nine lawsuits in the US Federal Court against NJOY, Lorillard, VaporCorp, and eight other electronic cigarette manufacturers, claiming intellectual property infringement
NJOY was founded in 2006 and is headquartered in Scottsdale, Arizona, US. The company manufactures and distributes rechargeable and non-rechargeable e-cigarette products.
- September 2015: Faces a class action suit from plaintiffs (individuals) over allegations that the company deceptively marketed its e-cigarettes as a healthy alternative to tobacco cigarettes
- May 2014: Launches tank systems to diversify its product line
- February 2014: Receives a USD 70 million capital funding from a group of investors, including Morgan Stanley Investment Management and Brookside Capital
Pfizer was founded in 1849 and has its headquarters in New York, US. It is a research-based biopharmaceutical company that produces, manufactures, and develops pharmaceutical products for therapy areas, including arthritis, cardiovascular illnesses, metabolic disorders, infectious diseases, and respiratory disorders.
As of December 2014, the company had around 78,300 employees employed worldwide. It has a strong operational network in 150 countries. In FY2014, it reported net sales of USD 49.61 billion and spent USD 8.39 billion on R&D. At the end of December 2014, Pfizer had 298 projects, ranging from discovery through registration, including 86 programs from Phase 1 through registration, and 23 programs in Phase III.
Reynolds American was incorporated in 2004 and is headquartered at Winston-Salem, North Carolina, US. The company manufactures and sells cigarettes and other tobacco products such as smoke-free tobacco and nicotine products. In FY2014, it reported a revenue of USD 8,471 million.
As of December 2014, the company had 5,300 employees and its R&D expenses amounted to USD 88 million. It operates through over 35 subsidiaries, including American Snuff, Conwood Holdings, Kentucky BioProcessing, Lantern Acquisition, and Niconovum USA.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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