Impact Of Covid-19 On Smoking Cessation and Nicotine De-Addiction Market: Remarking Enormous Growth With Recent Trends During Forecast period 2018 -2026
Global Smoking Cessation and Nicotine De-Addiction Market - Snapshot
Across the world, a good opportunity exists for growth of the global nicotine replacement therapy (NRT) market. According to Foundation for a Smoke-Free World based in the U.S., the global market size of the nicotine ecosystem was US$ 785.0 billion in 2017. Smoking cessation and NRT products hold a market share of 0.3% of the global nicotine ecosystem market. This presents a huge opportunity for global NRT and smoking cessation product market players for further penetration of NRT products across the world.
The global smoking cessation and nicotine de-addiction market has two types of products: e-cigarettes and nicotine replacement therapy (NRT) products. During 2011 and 2012, NRT smoking cessation products such as nicotine chewing gums, nicotine transdermal patches, nicotine lozenges, nicotine tablets, nicotine sprays, and nicotine inhalers had a larger market size compared to e-cigarettes. But from 2013 onward, with rise in consumer penetration of e-cigarettes, especially in developed regions such as North America and Europe, demand for e-cigarettes sky-rocketed and the market size of global e-cigarettes increased many-folds compared to the market size of NRT products. In fact, the global market size of NRT products saw a slight decline. Millennial and young consumers used e-cigarettes as a smoking cessation product compared to NRT products such as chewing gum, patches, lozenges, tablets, sprays, inhalers, etc. This trend is continuing till today and is expected to continue in future.
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From the supply side, the global smoking cessation and nicotine de-addiction market is fragmented and the market structure varies from country to country. From 2013 onward, with rise in demand for e-cigarettes across the world, the usage of e-cigarettes started increasing. Prominent companies operating in the e-cigarette market are JULL Labs Inc. and British American Tobacco (BAT) Plc. Global e-cigarette market players outsource e-cigarette manufacturing to the low-cost Asia Pacific region. Most e-cigarettes are manufactured in Shenzhen, China. The designing of e-cigarettes is done by e-cigarette market players in-house. For example, JULL Labs Inc. designs its e-cigarette products in San Francisco, California.
The study provides a conclusive view of the global smoking cessation and nicotine de-addiction market by segmenting it in terms of product type and distribution channel. In terms of product type, the global smoking cessation and nicotine de-addiction market has been classified into products (with nicotine) and products (without nicotine). Products (with nicotine) are further sub-segmented into OTC products and prescription products. OTC products are segmented into e-cigarettes, nicotine patches (NRT), nicotine tablets (NRT), nicotine gums and lozenges (NRT), . Prescription products are divided into nicotine sprays (NRT) and nicotine inhalers (NRT). Products without nicotine are prescription products and are segmented into Zyban and Chantix. By distribution channel, the global smoking cessation and nicotine de-addiction market is segmented into online and offline. NRT stands for products that help to reduce the urge for smoking i.e. nicotine replacement therapy (NRT).
The value chain of the global smoking cessation and nicotine de-addiction market consists of e-cigarettes and nicotine replacement therapy (NRT) product designers, e-cigarette and NRT product manufacturers, and distribution channel (both online and offline).
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Global e-cigarette market players such as Juul Labs Inc. designs its products in San Francisco. About 95.0% of the global production of e-cigarettes happens in Shenzhen, China. The first e-cigarette manufacturer in Shenzhen was FirstUnion Group formed in 2004 which has more than 5,000 employees. Presently, there are more than 600 e-cigarette manufacturers in Shenzhen. Majority of e-cigarette manufacturers are less than 10 years old and no company dominates the Shenzhen cluster.
The report highlights major companies operating in the global smoking cessation and nicotine de-addiction market including Pfizer Inc., GlaxoSmithKline plc (GSK), Cipla Ltd., Johnson & Johnson (J&J), ITC Ltd., Takeda Pharmaceutical Company Ltd., Alkalon A/S, 22nd Century Group, Inc., Strides Pharma Science Ltd., and JUUL Labs, Inc.
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