Dublin, Aug. 17, 2021 (GLOBE NEWSWIRE) -- The "Smoking Cessation Aids Market Forecast to 2028 - COVID-19 Impact and Global Analysis by\ Product (Nicotine Replacement Therapy, Drugs, Electronic Cigarettes, and Others) and End-User (Hospital Pharmacies, Online Channel, Retail Pharmacies, and Other End Users)" report has been added to ResearchAndMarkets.com's offering.
According to this report the 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 2021-2028. 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.
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.
The substance and tobacco abuse treatment industry is getting competitive every consecutive year with the introduction of new and innovative therapies by the smoking cessation aids market players. For instance, in July 2020, Dr Reddy's Laboratories announced the launch of over-the-counter Nicotine Polacrilex lozenges in the American market. The company launched Nicotine Polacrilex lozenges in the strengths of 2 mg and 4 mg in the US. Furthermore, the top players in the market are also collaborating with third parties to improve their existing product range of smoking cessation aids. For instance, in March 2016, GlaxoSmithKline partnered with a digital smoking cessation company 2Morrow to offer the GSK's Nicoderm CQ Patch to smokers who complete 2morrow's cessation program.
In addition, medical devices such as nicotine-free e-cigarettes and vapes are being launched by market players at local and regional levels. For instance, the US based electronic cigarette company Juul Labs announced to launch its products in India by the end of 2019. In December 2018, the British American Tobacco (BAT) introduced two new e-cigarettes named Vype iSwitch Maxx and Vype iSwitch in five of BAT's VIP stores in London. Thus, the consistent launch of new and innovative smoking cessation aids would become a prevalent trend in the smoking cessation aids market in the coming years.
COVID-19 outbreak was first observed in December 2019 in Wuhan (China), and it has spread to more than 100 countries across the world, with the World Health Organization (WHO) stating it as a public health emergency. The global impacts of COVID-19 are being felt across several markets. The findings show that e-cigarette usage and dual use of e-cigarettes and cigarettes are important underlying risk factors for COVID-19 that have previously not been established. As per the researchers, smoking is a risk factor for influenza, patients who smoke are immunosuppressed to some degree, and they make more mucus.
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.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Smoking Cessation Aids Market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global Smoking Cessation Aids, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Key Topics Covered:
2. Smoking Cessation Aids Market - Key Takeaways
3. Research Methodology
4. Global Smoking Cessation Aids Market - Market Landscape
4.2 PEST Analysis
4.3 Expert Opinions
5. Smoking Cessation Aids Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Addiction of Tobacco Smoking
5.1.2 Increasing Awareness Activities and Campaigns to Reduce Tobacco Usage and Dependence
5.2 Market Restraints
5.2.1 Steeping Costs for Development of Nicotine Replacement Therapies
5.3 Market Opportunities
5.3.1 E-cigarette Epidemic Among Youth
5.4 Future Trends
5.4.1 Introduction of New Smoking Cessation Aids
5.5 Impact Analysis
6. Smoking Cessation Aids Market - Global Analysis
6.1 Global Smoking Cessation Aids Market Revenue Forecast and Analysis
6.2 Global Smoking Cessation Aids Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Smoking Cessation Aids Market Analysis - By Product
7.2 Smoking Cessation Aids Market Revenue Share, by Product (2021 and 2028)
7.3 Nicotine Replacement Therapy
7.3.2 Nicotine Replacement Therapy: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
7.4.2 Drugs: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Electronic Cigarettes
7.5.2 Electronic Cigarettes: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
7.6.2 Others: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
8. Smoking Cessation Aids Market Analysis - By End-User
8.2 Smoking Cessation Aids Market Share, by End-User, 2021 and 2028, (%)
8.3 Hospital Pharmacies
8.3.2 Hospital Pharmacies: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Online Channel
8.4.2 Online Channel: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Retail Pharmacies
8.5.2 Retail Pharmacies: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Other End Users
8.6.2 Other End Users: Smoking Cessation Aids Market - Revenue and Forecast to 2028 (US$ Million)
9. Smoking Cessation Aids Market - Geographic Analysis
10. Impact of COVID-19 Pandemic on Global Smoking Cessation Aids Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment Of COVID-19 Pandemic
10.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.5 South and Central America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.4 Inorganic Developments
12. Company Profiles
12.1 Pfizer Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 GlaxoSmithKline plc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Dr. Reddy's Laboratories
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Johnson and Johnson Services, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Cipla Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Perrigo Company plc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Bausch Health Companies Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Juul Labs
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
For more information about this report visit https://www.researchandmarkets.com/r/nluidv
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900