Smoking Cessation Aids Market Global Analysis & Forecast 2028

The Smoking Cessation Aids market is expected to reach US$ 64,032.30 million by 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 smoking cessation aids 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.

Market Insights

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.

 

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Smoking Cessation Aids Market: Strategic Insights

Smoking Cessation Aids Market

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  CAGR (2021 - 2028)

  15.5%
• Market Size 2021
  US$ 23.41 Billion
• Market Size 2028
  US$ 64.03 Billion

Market Dynamics

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Pfizer Inc
• GlaxoSmithKline plc
• Dr Reddy s Laboratories
• Johnson and Johnson Services Inc
• Cipla Inc
• Perrigo Company plc
• Bausch Health Companies Inc
• Glenmark
• NJOY

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Nicotine Replacement Therapy
• Drugs
• Electronic Cigarettes
• Others

End-User

• Hospital Pharmacies
• Online Channel
• Retail Pharmacies
• Other End Users

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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.

Product-Based Insights

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.

End User-Based Insights

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 key players such as 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 adopt several organic and inorganic strategies to enhance their revenue and market standings. For instance, in July 2020, Dr Reddy’s Laboratories launched of over-the-counter Nicotine Polacrilex lozenges in the American market in the strengths of 2 mg and 4 mg. Moreover, in November 2020, Perrigo Company plc completed its the fourth year of its “Quitting is Better” campaign in partnership with the American Cancer Society (ACS).

Smoking Cessation Aids Market Report Scope

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Smoking Cessation Aids Market – by Product

• Nicotine Replacement Therapy
• Drugs
• Electronic Cigarettes
• Others

Smoking Cessation Aids Market – by End User

• Hospital Pharmacies
• Online Channel
• Retail Pharmacies
• Others

Smoking Cessation Aids Market – by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe

• Asia Pacific (APAC)

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific

• Middle East and Africa (MEA)

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East &Africa

• South and Central America (SCAM)

  • Brazil
  • Argentina
  • Rest of South and Central America

Company Profiles

• Pfizer Inc.
• GlaxoSmithKline plc.
• Dr. Reddy's Laboratories
• Johnson and Johnson Services, Inc.
• Cipla Inc.
• Perrigo Company plc
• Bausch Health Companies Inc.
• Glenmark
• NJOY
• Juul Labs