Nicotine Replacement Therapy Market is estimated to be US$ 302.6 billion by 2032 with a CAGR of 16.5% over the forecast period (2022-2032) -By PMI

The report “Nicotine Replacement Therapy Market, By Type (Inhalers, Lozenges, Gums, Patches, and Others), By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2032”

Covina, April 12, 2023 (GLOBE NEWSWIRE) — Nicotine Replacement Therapy help in reducing the withdrawal feelings by giving a small controlled amount of nicotine. Small amount of nicotine helps in satisfying craving for nicotine & reduces urge to smoke. NRT is given in the form of sprays, inhalers, gum, patches, lozenges, etc. but no harmful chemicals in tobacco. NRT works by releasing a lower and more slowly absorbed dose of nicotine which is compared to smoking. Nicotine nasal spray is available only by prescription. Nicotine nasal spray helps in delivering the nicotine to bloodstream rapidly because it is absorbed through nose. Nicotine nasal spray helps in relieving withdrawal of symptoms very quickly and to control nicotine cravings. FDA has recommended the spray to be prescribed for 3 month period and not to be used for longer than 6 months. Nicotine inhalers are available only by prescription. Nicotine inhalers are thin plastic tube with nicotine cartridge inside. Nicotine inhalers help in delivering most of the nicotine vapor to mouth and throat where it is absorbed into bloodstream. Nicotine inhalers dose is recommended between 4 and 20 cartridges a day by slowly tapering off over 6 months. Nicotine lozenges can be brought without prescription. Nicotine lozenges are available in two strength such as 2 mg and 4 mg. Nicotine is the main active ingredient in tobacco products which reinforces an individual to tobacco addiction behavior. Pharmacological effects of nicotine lead to tobacco addiction. Nicotine is the main alkaloid of tobacco smoke & has become the principal modulator of psychopharmacological effects associated with addiction. The evidence has determined that NRT can help to stop smoking and now well accepted. However, rising demand for nicotine replacement therapy has become the positive impact on target market growth.

The report Nicotine Replacement Therapy Market, By Type (Inhalers, Lozenges, Gums, Patches, and Others), By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2032”

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Key Highlights:

  • In July 2022, Dr. Reddy’s has launched the over-the-counter Nicotine Polacrilex Lozenges (a store brand version of Nicorette) in US market. These newly launched lozenges are available in 2mg & 4mg strength. Nicotine Polacrilex Lozenges will be used for cessation of smoking and will benefit consumers who want to quit smoking by reducing withdrawal symptoms such as nicotine cravings.
  • In June 2021, JB Chemicals has launched ‘NOSMOK’ new medicated Nicotine Lozenges. Newly launched ‘NOSMOK’ medicated nicotine lozenges will help in reducing urge to consume or smoke tobacco and help in relieving psychological & psychomotor withdrawal symptoms & thus, help them in tobacco cessation journey. Newly launched lozenges are available in mint flavor and in both sugar-based and sugar-free variants in 2mg and 4mg strength.
  • In May 2019, Nicorette has introduced new nicotne lozenges in bid to woo customers away from vaping. Nicorette brand is launching its first major product in 10 years, a coated ice mint lozenges. The ice coating will help in delivering a punch of minty flavor with smoother texture than other nicotine lozenges and also help in quitting smoking.
  • In January 2018, Cipla has launched ‘Nicotex Nicotine Patches’ which will help smoker to kick the habit in 12 weeks. Newly launched ‘Nicotex Nicotine Patch’ is a skin or transdermal patch which works on proven principle of nicotine replacement therapy and helps in quitting smoking in 12 weeks.
  • In November 2017, Glenmark Pharmaceuticals has launched new nicotine gum ‘Kwitz’. Newly launched nicotine gum is available in 2mg as an OTC product and 4mg as prescription product. Newly launched nicotine gum ‘Kwitz’ will help smokers to quit the smoking.

Scope of the Report:

  1. Market Preview

>Executive Summary
>Key Findings—Global Outlook for medical carts Strategies

  • Key Questions this Study will Answer
  • Market Snippet, By Type
  • Market Snippet, By Distribution Channel
  • Market Snippet, By Region

>Opportunity Map Analysis
>Executive Summary—3 Big Predictions

  1. Market Dynamics, Regulations, and Trends Analysis

>Market Dynamics

  • Drivers
  • Restrains
  • Market Opportunities
  • Market Trends

>DR Impact Analysis
>PEST Analysis
>Porter’s Five Forces Analysis
>Opportunity Orbit
>Market Investment Feasibility Index
>Macroeconomic Factor Analysis

  1. Nicotine Replacement Therapy Market, By Type

>Overview

  • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
  • Y-o-Y Growth Analysis (%), 2022 – 2032
  • Segment Trends

>Inhalers

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

>Lozenges

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

>Gums

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

>Patches

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

>Others

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
  1. Nicotine Replacement Therapy Market, By Distribution Channel, 2022 – 2032, (US$ Bn)

>Overview                                      

  • Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
  • Y-o-Y Growth Analysis (%), 2022 – 2032
  • Segment Trends

>Hospital Pharmacy

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

>Online Pharmacy

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

>Retail Pharmacy

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

>Others

  • Overview
  • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032

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Analyst View:
Nicotine Replacement Therapy (NRT) has benefits like, nicotine gums & lozenges are generally sugar-free, nicotine nasal spray works faster when any one need it, nicotine patches are convenient and has to be put only once a day. Nicotine lozenges, gums, inhalers are substitutes and can be put in the mouth by an addicted individual and helps in controlling their dosages to help keep cravings under better control. Nicotine inhalers also works very quickly. Nicotine Replacement Therapy (NRT) helps in reducing the motivation to smoke cigarettes because the body gets nicotine from another safer method. However, essential benefits and rising demand for NRT is expected to boosts the demand for target market growth over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Key Market Insights from the report:

Nicotine Replacement Therapy Market accounted for US$ 60.0 billion in 2022 and is estimated to be US$ 302.6 billion by 2032 and is anticipated to register a CAGR of 16.5%. The Nicotine Replacement Therapy Market is segmented based on Type, Distribution Channel, and Region.

  • Based on Type, Nicotine Replacement Therapy Market is segmented into Inhalers, Lozenges, Gums, Patches, and others.
  • Based on Distribution Channel Nicotine Replacement Therapy Market is segmented into Hospital Pharmacy, Online Pharmacy, Retail Pharmacy, and others.
  • By Region, the Nicotine Replacement Therapy Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Nicotine Replacement Therapy Market:

  • Cipla Limited
  • Johnson & Johnson Inc
  • GlaxoSmithKline plc
  • Pfizer Inc
  • Glenmark Pharmaceuticals Limited
  • Rubicon Research Pvt. Ltd
  • Lucy Goods Inc
  • Fertin Pharma Ltd
  • Japan Tobacco Inc
  • British American Tobacco plc

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Some Important Points Answered in this Market Report Are Given Below:

  • Explains an overview of the product portfolio, including product development, planning, and positioning
  • Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
  • Detailed analysis of the market revenue over the forecasted period.
  • Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
  • Study on the segments that are anticipated to dominate the market.
  • Study on the regional analysis that is expected to register the highest growth over the forecast period

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Here are some key questions answered in Nicotine Replacement Therapy Market Report:

  1. What are the different types of nicotine replacement therapies available in the market?
  2. Which nicotine replacement therapy products are leading the market and why?
  3. What are the major geographical regions in the nicotine replacement therapy market and what is their market size and growth rate?
  4. What are the key trends and developments in the nicotine replacement therapy market?
  5. What are the major companies operating in the nicotine replacement therapy market and what are their market shares?
  6. What are the strategies adopted by these companies to increase their market presence and revenue?
  7. What are the regulatory frameworks governing the nicotine replacement therapy market?
  8. What is the future outlook for the nicotine replacement therapy market in terms of revenue, growth rate, and market trends?

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