Selbyville, Delaware, Global Nicotine Replacement Therapy Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Nicotine Replacement Therapy Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Nicotine Replacement Therapy market and provides information regarding the revenue for the period 2020 to 2027.
Global Nicotine Replacement Therapy Market to reach USD 127.2 billion by 2027. Global Nicotine Replacement Therapy Market is valued approximately USD 38 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16.3% over the forecast period 2020-2027.
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Nicotine replacement therapy (NRT) is recommended for tobacco cessation. As tobacco smoking contains nicotine, which is addictive and harmful for health, as it causes lung cancer and other respiratory and cardiac diseases. Nicotine replacement therapy (NRT) includes all the products, drugs, counselling as well as psychotherapy.
The rising government strict norms towards the use of tobacco and increasing awareness regarding the negative impact of smoking on health are the few factors responsible for growth of the market over the forecast period. For instance: as per Centre of Public Impact Organization, in February 2010, the Dutch Supreme Court issued an amendment in Tobacco Act, banned the smoking in owner-run pubs and cafA(C)s without employees, thus rejecting an earlier ruling where small bar and cafA(C) owners were exempt. Also, as per Statista, the number of tobacco smokers among those aged 15 years and older in Europe was 209 million people in 2015 and has decreased to 195 million people in 2020. The number of tobacco smokers among those aged 15 years and older in America was 132 million people in 2015 and has decreased to 121 million people in 2020. This decrease in number of smoking leads to huge adoption of Nicotine Replacement Therapy across the world. However, the certain side effects from Nicotine replacement therapy (NRT) products and drugs is the major factor restraining the growth of global Nicotine Replacement Therapy market during the forecast period.
Major market player included in this report are:
- Philip Morris Products S.A. (Altria Group)
- British American Tobacco p.l.c.
- Japan Tobacco, Inc.
- Imperial Brands
- Fertin Pharma
- Cipla Inc.
- Pfizer Inc.
- Johnson & Johnson Services, Inc.
The regional analysis of global Nicotine Replacement Therapy market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising awareness against smoking hazards and high accessibility of nicotine replacement therapy products. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Nicotine Replacement Therapy
Heat-not-burn Tobacco Products
By Distribution Channel:
- North America
- Asia Pacific
- Latin America
- Rest of the World
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