LONDON--(BUSINESS WIRE)--The global smoking cessation and nicotine de-addiction market is poised to grow by USD 16.6 billion during 2020-2024, progressing at a CAGR of over 13% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Smoking Cessation and Nicotine De-addiction Market Analysis Report by Product (E-cigarette, NRT and Drug therapy), Geographic segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the increase in the number of people trying to quit smoking. In addition, product innovations are anticipated to boost the growth of the smoking cessation and nicotine de-addiction market.
The growing number of people trying to quit smoking is encouraging the growth of the market. Addicts rely on various smoking cessation aids such as e-cigarettes to break the addiction to smoking. For instance, about 48% of smokers in the UK are consuming e-cigarettes as per NHS Digital. This has brought down the number of cigarette smoking adults in the UK from 15.8% in 2016 to 15.1% in 2017 as per the Office for National Statistics. A similar decrease has been witnessed in the number of smokers across the United States as well. Furthermore, government agencies are launching smoking cessation campaigns to promote the adoption of e-cigarettes. Thus, the increasing number of people trying to quit smoking is expected to drive market growth during the forecast period.
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Major Five Smoking Cessation and Nicotine De-Addiction Market Companies:
British American Tobacco Plc
British American Tobacco Plc offers cigarettes and other tobacco products through a unified business segment. The company provides smoking cessation products such as oral products, including tobacco-free nicotine pouches; traditional oral products, including moist snuff and snus.
Cipla Ltd.
Cipla Ltd. offers products through the following business units: Pharmaceuticals and New ventures. The company is involved in the development, manufacture, sale, and distribution of branded generic medicines and Biosimilars. The company also offers smoking cessation products through its brand, Nicotex.
Dr. Reddy's Laboratories Ltd.
Dr. Reddy's Laboratories Ltd. operates under various business segments, namely Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), Proprietary Products, and Others. The company provides smoking cessation products through the brand name, Habitrol.
GlaxoSmithKline Plc
GlaxoSmithKline Plc offers products through the following business segments: Pharmaceuticals, Consumer healthcare, and Vaccines. The company offers a broad portfolio of innovative and established medicines. They provide smoking cessation products under the brand name, Nicotinell.
Imperial Brands Plc
Imperial Brands Plc offers products through the following business segments: Tobacco & NGP and Distribution. The company is involved in the manufacture, marketing, and sale of Tobacco & NGP and other products. They also provide battery-powered vapour products.
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Smoking Cessation and Nicotine De-addiction Market Product Outlook (Revenue, USD Billion, 2020-2024)
- E-cigarette
- NRT
- Drug therapy
Smoking Cessation and Nicotine De-addiction Market Geographic segmentation Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- Europe
- MEA
- North America
- South America
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