The market
for smoking cessation products is expected to reach USD 24 billion in 2022 and
USD 57 billion by 2032, growing at a CAGR of 9.2% between 2022 and 2032.
In 2022, the
market
for smoking cessation products will represent 3% of the overall smoking
market. During the assessment period of 2022–2032, the market for products to
help smokers quit is predicted to have an absolute dollar opportunity of USD 33
billion.
The report
predicts that developing countries will continue to have lower nicotine and
smoking cessation product demand than developed countries. According to the
study, developed nations were more willing to spend money on nicotine
replacement therapy and smoking cessation aids than developing nations.
For More Insights into the Market, Request
a Sample of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=2372
Report Attributes |
Details |
Base Year
Value (2021A) |
USD 22
Billion |
Estimated
Year Value (2022E) |
USD 24
Billion |
Projected
Year Value (2032F) |
USD 57
Billion |
Global
Growth Rate (2022-2032) |
9.2% |
North
America Market Share in 2021 |
23.9% |
North
America Growth Rate in 2021 |
10.9% |
Collective
Value Share (US, China, India) 2022: Top 3 Countries |
~31% |
Top 5
Companies Market Share |
~22% |
How much money is generated in the market
for smoking cessation products by developed regions?
Although
smoking cessation products are used widely around the world, the Fact.MR study
found that North America and Europe account for more than 80% of global sales
of these products.
Due to the
alarmingly high rates of tobacco product adoption among youth and adult
populations, tobacco smoking has reached new highs in the United States and
Europe. North America and Europe will contribute roughly 23.9% and 21.5%,
respectively, to the market for smoking cessation products in 2021, despite the
fact that the regions are seeing an increase in quitting.
Request More Information about Report
Methodology: https://www.factmr.com/connectus/sample?flag=RM&rep_id=2372
Top Companies in the Smoking Cessation
Products Market: Competitive Landscape
Due to the
presence of numerous domestic and regional players, the global market for
smoking cessation products is highly fragmented and competitive. Key players
use a variety of marketing tactics, including mergers and acquisitions,
expansions, collaborations, and partnerships.
Additionally,
the top businesses use new product development as a strategic approach to
enhance their market presence among consumers. Modern smoking cessation
products have been incorporated as a result of these strategies.
For illustration:
·
In 2020, Dr. Reddy's Laboratories introduced OTC
Nicotine Polacrilex Lozenges in the United States. The product is a supplement
to nicotine replacement therapy that lessens withdrawal symptoms like nicotine
cravings (NRT).
Key Companies Profiled
·
Johnson & Johnson Inc.
·
GlaxoSmithKline plc
·
Pfizer Inc.
·
Perrigo Company plc
·
Cipla Ltd
·
ITC Limited
·
Reynolds American Inc.
·
Imperial Tobacco Ltd.
·
Fertin Pharma
·
Alkalon A/S
·
Fontem Ventures
·
Nicotek LLC
·
Novartis
·
British American Tobacco PLC
·
Smoke Away
·
The Harvard Drug Group
·
VMR Products LLC
For In-Depth Competitive Analysis, Buy now:
https://www.factmr.com/checkout/2372
Global Smoking Cessation products Market by
Category
Company Name | Contact Person | Contact Number | Email Id | Website | Address |
---|---|---|---|---|---|
Fact.MR | Neha Bhosle | 6282511583 | neha.b@factmr.com | https://www.factmr.com | Rockville - Maryland, United States |
Dallas, Texas (pressreleasepower) September 9, 2020 - BenefitCorp, a Dallas PEO consulting firm, recently released a new educational resource that edu...Read More
West Chester, Pennsylvania (pressreleasepower) September 8, 2020 - Waterproof Caulking and Restoration, a Philadelphia waterproofing company, recently...Read More
An upcoming market research report from Industry Probe titled “Cartridge Heaters Market – Global Industry Dynamics 2018-19, Trends and Foreca...Read More
Muscat, Oman (pressreleasepower) April 30, 2020 - Tarjs is pleased to announce the launch of our brand new website! After several months of hard work ...Read More
Chantilly, Virginia (pressreleasepower) - The Northern Virginia design & build contractors at Monumental Contractors, recently released ...Read More