Smoking Cessation and Nicotine De-addiction Products Market to be Worth US$20.8 bn by 2023: Transparency Market Research

ALBANY, New York, January 18, 2016 /PRNewswire/ --

Transparency Market Research has published a new market report titled, "Smoking Cessation and Nicotine De-addiction Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023." According to the report, global smoking cessation and nicotine de-addiction products market was valued at US$ 6.5 Bn in 2014 and is anticipated to expand at a CAGR of 13.7% from 2015 to 2023 to reach US$ 20.5 Bn by 2023.

Smoking cessation or nicotine de-addiction can be achieved by various modes such as nicotine replacement products, e-cigarettes, anti-depressants and nicotine receptor agonists such as Zyban (bupropion), and Chantix/Champix (varenicline). Quitting smoking is also possible with or without assistance of healthcare professionals. The smoking cessation products market has been extensively analyzed on the basis of factors such as the products popularly used, success rate, and geographical reach.

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Recent Market Trends & Overview of Smoking Cessation and Nicotine De-addiction Products Market 

The global smoking cessation and nicotine de-addiction market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments and sub-segments of the market. It also provides information and data analysis of the global smoking cessation and nicotine de-addiction market with respect to the segments based on the type of products, and their geographic analysis (by country). A detailed qualitative analysis of driving and restraining factors for the market growth and future opportunities has been provided in the market overview section. This section of the report also provides market attractiveness analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global smoking cessation and nicotine de-addiction market.  

The first line treatment for smoking cessation comprises either nicotine replacement therapy (NRT) products or drug therapy. However, recently people willing to quit smoking are also seen preferring e-cigarettes instead of NRT and drugs. E-cigarettes provide smokers with the same feeling as that with cigarettes, however are known to assist in lowering nicotine addiction, though there has been a lot of debate about categorization of e-cigarette as a smoking cessation aid. The major setback is expected to affect the global smoking cessation and nicotine de-addiction products market due to loss of patent exclusivity of the most recognized brand Zyban (bupropion) during the forecast period in the year 2013, and to a certain extent due to Chantix/Champix (varenicline) at the end of the forecast period.

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The market for smoking cessation and nicotine de-addiction products has been categorized on the basis of prominently used product types: nicotine replacement therapy (NRT), drug therapy and e-cigarettes. The NRT segment includes nicotine containing gums, patches, lozenges, sublingual tablets, inhalers and mouth sprays, of which, gums, patches and lozenges contribute to maximum revenue. The e-cigarette segment will exhibit fastest growth and thus, is expected to boost the global smoking cessation and nicotine de-addiction products market. E-cigarettes have proved to be a better alternative to cigarettes whose smoke contains various harmful gases and cause dreadful diseases such as cancer. However, many countries from regions such as Southeast Asia, and Europe have banned the sales of E-cigarettes.

Major Players in the Market: 

The market for NRT products is consolidated with the top players capturing over major share with key players such as Johnson & Johnson, GSK, and Pfizer. The drug therapy market is dominated by GSK and Pfizer. The key players in the e-cigarette market include NJOY, VMR Products LLC, Lorillard, Inc., and Nicotek LLC.

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The global smoking cessation and nicotine de-addiction products market has been segmented as follows:

Smoking Cessation and Nicotine De-Addiction Products Market, by Type 

• Nicotine Replacement Therapy Products
  • Nicotine Gums
  • Nicotine Transdermal Patches
  • Nicotine Lozenges
  • Nicotine Sprays
  • Nicotine Inhalers
  • Nicotine Sublingual Tablets
• Drug Therapy
  • Zyban (bupropion)
  • Chantix/Champix (varenicline)
• E-cigarettes

Smoking Cessation and Nicotine De-Addiction Products Market, by Geography 

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

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