Nicotine Replacement Therapy Market to Witness Comprehensive Growth by 2026
Cigarette smoking is a chronic health problem across the globe. There has been increased focus on the adverse economic and health effects of smoking. Tobacco contains nicotine which is addictive, and thus, tobacco smoking usually leads to nicotine addiction. Smoking cessation aids mainly include nicotine replacement therapy (NRT) products and drugs, which may be coupled with counselling and psychotherapy. However, certain nicotine withdrawal symptoms are observed during the process of smoking cessation, such as, anxiety and irritability, due to which the person, at times, is likely to start smoking again.
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The first line treatment for smoking cessation comprises either nicotine replacement therapy (NRT) products or drug therapy. However, lately, people willing to quit smoking are also seen preferring e-cigarettes to NRT products and drugs. E-cigarettes provide smokers with the same feeling as that of cigarettes; however, the former are known to aid in lowering nicotine addiction, though there has been a lot of debate about categorization of e-cigarette as a smoking cessation aid.
Nicotine addiction is the second leading cause of death worldwide. According to the Centers for Disease Control and Prevention (CDC), around 44 million adults got addicted to cigarette smoking in 2011, with majority being from the low-income class in the U.S. Similar conditions prevail in other countries and pose an equal threat to human lives. Cigarette smoking is a primary cause of lung cancer and other respiratory and cardiac diseases. Awareness about these health hazards has encouraged smokers to adopt smoking cessation therapy.
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Convincing results in the initial stages have motivated addicts to try NRT therapy. Smoking cessation campaigns have proved to be a key driver of the nicotine replacement therapy market. Government policies on raising taxes on cigarette products, ban on smoking in public places, and other such reforms have greatly influenced the nicotine replacement therapy market.
According to the Tobacco Act in the Netherlands, smoking is banned in pubs, clubs, and restaurants. These acts have been implemented in order to curb smoking addiction as well as to help protect non-smokers from passive smoking. Other countries, including the U.S., the U.K., Germany, and Poland have implemented similar acts to restrict cigarette smoking. These events have driven cigarette addicts toward using NRT products. Introduction of new products is expected to boost the nicotine replacement therapy market, while providing more options to people willing to quit smoking. Currently available NRT products in the market are known to have certain side effects, which is a major reason for therapy dropout.
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The global nicotine replacement therapy market can be segmented on the basis of prominently used product type, distribution channel, and geography. The product type segment includes nicotine containing gums, patches, lozenges, sublingual tablets, inhalers, and mouth sprays, out of which, gums, patches, and lozenges generate maximum revenue. Based on distribution channel, the global nicotine replacement therapy market can be divided into hospital pharmacy, retail pharmacy, and online pharmacy.
In terms of geography, the global nicotine replacement therapy market can be classified into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is expected to be the leading market for nicotine replacement therapy, due to rising awareness against smoking hazards and high accessibility of nicotine replacement therapy products.
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Europe, the second leading market for nicotine replacement therapy, is expected to register double digit CAGR during the forecast period. Smoking restrictions, rising taxes on tobacco products, and mass media and school-based educational campaigns have helped curb the prevalence of smoking in Europe. Asia Pacific and Latin America are anticipated to record maximum growth in the near future as compared to the other regions. Demand for lifestyle drugs is witnessing rapid growth due to factors, such as, rise in health awareness, increase in population, and development of public health care systems, among others.
Key players operating in the global nicotine replacement therapy market include Cipla Ltd., GlaxoSmithKline plc, McNeil AB, NJOY, Inc., Novartis International AG, Pfizer, Inc., Revolymer PLC, and Takeda Pharmaceutical Co., Ltd.
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