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Nicotine Replacement Therapy (NRT) Market 2026- Global Trends, Statistics, Size, Share, Regional Analysis by Key Players
Posted on Feb 25 2021 7:00 AM
"Nicotine Replacement Therapy (NRT) Market to Exhibit 4.2% CAGR by 2027 Backed by Increasing Government Initiatives to Promote Anti-Smoking Activities, reports Fortune Business Insights™"
The global 'Nicotine Replacement Therapy (NRT) Industry is expected to gain momentum by exhibiting a CAGR of 4.2% between 2020 and 2027. This is attributable to increasing incidence of chronic disease such as lung cancer, strokes, and respiratory ailments. Additionally, introduction of innovative products by major companies will favor market growth. This information is published by Fortune Business Insights, in its latest report, titled, 'Nicotine Replacement Therapy (NRT) Market Size, Share & COVID-19 Impact Analysis, By Type (Gums, Patches, Lozenges, Inhalers, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2020-2027.The report further observes that the market was valued at USD 2.55 billion in 2019 and is projected to reach USD 3.54 billion by 2027.
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Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
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DRIVING FACTORS
Increasing Incidence of Chronic Disease to Bolster Growth
According to the Center for Disease Control and Prevention (CDC), smoking cigarettes leads to over 80% to 90% of lung cancer deaths every year in the United States. Tobacco smoke consists of over 7000 chemicals, with over 70 chemicals known to cause cancer in humans. Furthermore, the increasing incidence of chronic ailments is propelling the major companies to introduce innovative nicotine replacement therapy products that aid in to curb the urge to smoke in the people. The growing tobacco addiction in the youth is further driving the demand for the NTR products that will bode well for the growth of the global nicotine replacement therapy market during the forecast period.
REGIONAL INSIGHTS
Growing Smoking Cessation Cases in North America to Propel Demand
Among all regions, North America was worth USD 1.18 billion in 2019 and is expected to hold the highest position in the global nicotine replacement therapy market share during the forecast period. This is attributable to the increasing number of people that desire to quit smoking in the US. For instance, according to the US National Institute of Health, around 70% of the total 46 million Americans smoke, desire to quit smoking. On the other hand, Europe is expected to hold the second position in the market owing to increasing government initiatives to promote anti-smoking campaigns and activities that are expected to drive the demand for nicotine replacement therapy products between 2020 and 2027.
COMPETITIVE LANDSCAPE
Product Launches by Major Companies to Strengthen Market Position
The global nicotine replacement therapy market report observes that major companies such as GlaxoSmithKline plc and Johnson & Johnson Inc hold over 80% of the total share and are constantly focusing on consolidating their positions by introducing novel nicotine replacement therapy products in the global marketplace. Additionally, other players in the market are striving to strengthen their position by adopting strategies such as collaboration, merger and acquisition, and introduction of new products during the forecast period.
Global Nicotine Replacement Therapy (NRT) Market Segmentation :
By Type
- Gums
- Patches
- Lozenges
- Inhalers
- Others
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
By Geography
- North America
- By Type
- By Distribution Channel
- By Country
INDUSTRY DEVELOPMENT:
- June 2020: Taat Herb Co., a flagship brand of Taat Lifestyles, announced the launch of its new hemp cigarettes from the Taat stable. According to the company, the new product dramatically replicates the exact experience of smoking a traditional cigarette and contains 50mg of cannabidiol(CBD) that is effective in reducing tobacco dependency.
List of the Companies Operating in the Market:
- GlaxoSmithKline plc (U.K, Europe)
- Johnson & Johnson Inc (New Jersey, U.S)
- Perrigo Company plc (Ireland, Europe)
- Pierre Fabre SA, Laboratories (France, Europe)
- Pfizer Inc. (New York, United States)
- Cipla Limited (Mumbai, India)
- British American Tobacco Plc (U.K, Europe)
- Other Players
Quick Buy - Nicotine Replacement Therapy (NRT) Market Research Report:
Table Of Content:
1 Market Overview
1.1 E-bike Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.4.1 North America (United States, Canada and Mexico)
1.4.1.1 United States Market States and Outlook (2020-2026)
1.4.1.2 Canada Market States and Outlook (2020-2026)
1.4.1.3 Mexico Market States and Outlook (2020-2026)
1.4.2 Europe (Germany, France, UK, Russia and Italy)
1.4.2.1 Germany Market States and Outlook (2020-2026)
1.4.2.2 France Market States and Outlook (2020-2026)
1.4.2.3 UK Market States and Outlook (2020-2026)
1.4.2.4 Russia Market States and Outlook (2020-2026)
1.4.2.5 Italy Market States and Outlook (2020-2026)
1.4.3 Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
1.4.3.1 China Market States and Outlook (2020-2026)
1.4.3.2 Japan Market States and Outlook (2020-2026)
1.4.3.3 Korea Market States and Outlook (2020-2026)
1.4.3.4 India Market States and Outlook (2020-2026)
1.4.3.5 Southeast Asia Market States and Outlook (2020-2026)
1.4.4 South America, Middle East and Africa
1.4.4.1 Brazil Market States and Outlook (2020-2026)
1.4.4.2 Egypt Market States and Outlook (2020-2026)
1.4.4.3 Saudi Arabia Market States and Outlook (2020-2026)
1.4.4.4 South Africa Market States and Outlook (2020-2026)
1.4.4.5 Turkey Market States and Outlook (2020-2026)
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force
2 Manufacturers Profiles
3 Global E-bike Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
3.1 Global E-bike Sales and Market Share by Manufacturer (2017-2018)
3.2 Global E-bike Revenue and Market Share by Manufacturer (2017-2018)
3.3 Market Concentration Rate
3.3.1 Top 3 E-bike Manufacturer Market Share in 2018
3.3.2 Top 6 E-bike Manufacturer Market Share in 2018
3.4 Market Competition Trend
4 Global E-bike Market Analysis by Regions
4.1 Global E-bike Sales, Revenue and Market Share by Regions
4.1.1 Global E-bike Sales and Market Share by Regions (2020-2019)
4.1.2 Global E-bike Revenue and Market Share by Regions (2020-2019)
4.2 North America E-bike Sales and Growth Rate (2020-2019)
4.3 Europe E-bike Sales and Growth Rate (2020-2019)
4.4 Asia-Pacific E-bike Sales and Growth Rate (2020-2019)
4.5 South America E-bike Sales and Growth Rate (2020-2019)
4.6 Middle East and Africa E-bike Sales and Growth Rate (2020-2019)
5 North America E-bike by Country
5.1 North America E-bike Sales, Revenue and Market Share by Country
5.1.1 North America E-bike Sales and Market Share by Country (2020-2019)
5.1.2 North America E-bike Revenue and Market Share by Country (2020-2019)
5.2 United States E-bike Sales and Growth Rate (2020-2019)
5.3 Canada E-bike Sales and Growth Rate (2020-2019)
5.4 Mexico E-bike Sales and Growth Rate (2020-2019)
Toc Continue…
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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