The global Smoking Cessation Aids market is expected to reach US$ 64,032.30 million in 2028 from US$ 23,413.08 million in 2021.
The global Smoking Cessation Aids market is expected to reach US$ 64,032.30 million in 2028 from US$ 23,413.08 million in 2021. The market is estimated to grow with a CAGR of 15.5% from 2021 to 2028. Key factors that are driving the growth of this market are rising addiction toward tobacco smoking, increasing number of campaigns to reduce smoking and tobacco dependence. However, steeping costs for development of nicotine replacement therapies are likely to restrain the market growth in the future years to some extent.
Smoking cessation lowers the risk of cancer and other serious health problems. Some products contain nicotine as an active ingredient and others do not. Counseling, behavior therapy, medicines, and nicotine-containing products, such as nicotine patches, gum, lozenges, inhalers, and nasal sprays, may be used to help a person quit smoking. They are regulated through the FDA’s Center for Drug Evaluation and Research, which ensures that the products are safe and effective and that their benefits outweigh any known associated risks.
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Here we have listed the top Smoking Cessation Aids Market companies in the world
Pfizer Inc.; GlaxoSmithKline plc.; Dr. Reddy’s Laboratories; Johnson and Johnson Services, Inc.; Cipla Inc.; Perrigo Company plc; Bausch Health Companies Inc.; Glenmark; NJOY; and Juul Labs are among the leading companies operating in the smoking cessation aids market.
Rising addiction of tobacco smoking
Nicotine is a highly addictive substance found in tobacco plant. The smoking of tobacco is proven to be dangerous in all forms as it can lead to chronic health conditions, preventable diseases, deaths, and disabilities. According to the World Health Organization (WHO), smoking-related disorders result in about 435,000 deaths per year in the US, which equals to around 1 in 5 of the total deaths in the country. According to the Centers of Disease Control and Prevention (CDC), in 2018, nearly 40 million adults in the US smoked cigarettes. Moreover, about 4.7 million middle and high-school students used at least one tobacco product and around 1,600 young population below the age of 18 in the US smoked their first cigarettes. Every year, nearly half a million patients die due to illness caused by smoking. The US government spends ~US$ 225 billion for medical care to treat patients suffering from smoking-associated conditions in the US. Therefore, prevalence of tobacco smoking is high across various countries in the world.
The scenario is similar in various European and Asian countries. Greece, Bulgaria, France, and Croatia comprise the high tobacco consuming populations in Europe. According to the Institute of Health Metrics and Evaluation, smoking is a very common addiction in Europe as over 20% adults over the age of 15 smoke every day. Furthermore, according to the World Population Review, the highest smoking rates are found in Southeast Asia and Balkan in Europe. The WPR also suggests that in various South and Southeast Asian countries, the smoking rates tend to be high among men. For instance, in Indonesia, the smoking rate among males was 76.20% in 2018. Thus, the rising number of smoking populations across the world drives the growth of the global smoking cessation aids market.
Based on product, the smoking cessation aids market is segmented into nicotine replacement therapy, drugs, electronic cigarettes, and others. E-cigarettes are considered as a healthy alternative to tobacco cigarettes and is estimated to be the fastest growing segment over the forecast period. E-cigarettes are an effective alternative for reducing health conditions associated with tobacco, while nicotine replacement therapies work best for smoking cessation. E-cigarettes are a potential threat to tobacco-based cigarettes. In addition, Consumption of e-cigarettes are less harmful compared to the regular cigarettes, no smoke and no risk of passive smoking, allowed to use even in no-smoking places, varying nicotine levels, and availability in various flavors are some of the major driving factors for the e-cigarettes market. in addition, the increasing popularity of e-cigarettes backed by its electronic feature is the major factor contributing towards its increasing demand.
Based on end-user, the smoking cessation aids market is segmented into hospital pharmacies, online channel, retail pharmacies, and other end users. The retail pharmacies segment is likely to hold the largest share of the market in 2021, however the online channel segment is anticipated to register the highest CAGR of the market during the forecast period.
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