Market Study Report recently added a new title on 2020-2027 Global Nicotine Replacement Therapy Market Report from its database. The report provides study with in-depth overview, describing about the Product, Size, Share, Industry Scope and elaborates market outlook and status to 2027.
Global Nicotine Replacement Therapy Market size to reach USD 124.92 billion by 2027 and is valued approximately at USD 38.2 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 16% over the forecast period 2020-2027.
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Nicotine Replacement Therapy is a treatment by which the craving for nicotine reduces, which helps people stop smoking and habits of chewing tobacco. The therapy uses products which has low doses of nicotine and do not contain toxins found in smoke. Government initiatives towards eliminating smoking habits, increase in number of people undergoing nicotine replacement therapies, insurance regulations, technological advancements, mergers and acquisitions by big market players are influencing market positively.
Major Nicotine Replacement Therapy Market player included in this report are:
- Cipla Inc.
- Pfizer, Inc.
- Fertin Pharma
- Philip Morris Products S.A.
- British American Tobacco p.l.c.
- Japan Tobacco, Inc.
- Imperial Brands
- Johnson & Johnson Services, Inc.
- McNeil AB
In January 2017, British American Tobacco acquired 57.8% stakes in Reynolds American Inc. and makes it a wholly owned subsidiary of British American Tobacco. Also, in April 2020, US FDA authorized the marketing and distribution of a product developed by Philip Morris Products S.A., known as IQOS Tobacco Heating System, that is an electronic device which burn prefilled tobacco sticks to generate aerosols. However, ban on e-cigarettes in countries like India, Brazil, Mexico and others impedes the growth of the market over the forecast period of 2020-2027. Also, increasing awareness among people regarding harmful effects of smoking on body is likely to increase the market growth during the forecast period.
The regional analysis of global Nicotine Replacement Therapy market size 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 increase in habit of cigarette smoking among adults and high availability of products of nicotine replacement therapy. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as high competition among tobacco companies and increasing demand for such products would create lucrative growth prospects for the Nicotine Replacement Therapy market across Asia-Pacific region.
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
- Transdermal Patches
- Sublingual Tablets
- Heat-not-burn tobacco products
By Distribution Channel:
- North America
- Asia Pacific
- Latin America
- Rest of the World
For More Details on Nicotine Replacement Therapy Market Report at: https://www.marketstudyreport.com/reports/global-nicotine-replacement-therapy-market-size-research?utm_source=Marketwatch.com/&utm_medium=SP
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