Nicotine Replacement Therapy (NRT) Market

Report Overview

The global nicotine replacement therapy market was valued at US$ 51.5 billion in 2021 and is expected to witness a CAGR of 15% during the forecast period, states Growth Plus Reports.

Market Fundament 

Cigarette smoking is a chronic health concern that affects people all over the world. The negative economic and health impacts of smoking have received more attention. Tobacco contains nicotine, which is addictive, and tobacco use almost always results in nicotine addiction. Nicotine replacement therapy (NRT) products and medicines are the most common smoking cessation aids and can be used with counseling and psychotherapy. However, some nicotine withdrawal symptoms such as anxiety and irritability, are noted during the process of quitting smoking, leading to the person's resumption of smoking. Nicotine replacement therapy is as successful as bupropion in assisting to quit smoking. In terms of helping patients quit smoking, all kinds of nicotine replacement treatments, including nicotine gum, patches, nasal spray, inhalers, and lozenges, have identical success rates. However, the likelihood that someone would stick to a particular treatment varies, with nicotine patches having the highest compliance, followed by nicotine gum, inhalers, and nasal sprays. Combining a couple of different nicotine replacement techniques may boost success rates in quitting smoking. Furthermore, employing nicotine replacement therapy in conjunction with counseling has been shown to increase tobacco cessation rates. 

[5235234]

Market Dynamics 

The increasing number of technology developments and the growing number of persons getting nicotine replacement treatment can be contributed to the growth of the global nicotine replacement therapy market. Rising public awareness of the dangers of smoking is projected to be a major driving force for market growth. The global population of smokers has topped 1.1 billion individuals. People are opting for smoking cessation therapy motivated by government measures such as the "Affordable Care Act," insurance laws, and programs to raise knowledge about the bad impact of smoking on health through counseling. In 2018, 55% of America's 34.2 million smokers attempted smoking cessation.

Additionally, organizations like the American Lung Association and the Centres for Disease Control and Prevention try to raise awareness about the medical concerns caused by smoking. According to the NHS, smoking causes 70% of lung cancer cases. Furthermore, smokers are more likely to have a heart attack. Every year, 480,000 people in the United States die as a result of smoking. The Centers for Disease Control and Prevention (CDC) operates a national funded campaign called Tips from Former Smokers (Tips) to urge healthcare providers to inform patients about the dangers of smoking and to assist them in quitting safely.

Market Ecosystem 

The global nicotine replacement therapy market has been analyzed from three perspectives: Type, Distribution Channel and Region. 

Nicotine Replacement Therapy (NRT) Market by Type

[2423421]

Based on type, the global nicotine replacement therapy market has been segmented into gums, patches, lozenges, inhalers, and others. The gums segment led the global nicotine replacement therapy market share, and this trend is likely to continue during the forecast period. This is owing to nicotine gum's benefits, such as providing an alternative chewing activity for chewing tobacco.

Nicotine Replacement Therapy (NRT) Market by Distribution Channel 

Based on the distribution channels, the global nicotine replacement therapy market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment shall account for the highest share during the forecast period. The availability of a wide range of affordable NRT products at retail chains such as Walgreens and CVS support the segment predominance. Furthermore, hospital affiliations with these chains contribute to expanding the market space. The online pharmacy segment is expected to grow the fastest during the forecast period. The comfort, flexibility, and convenience offered by online drug purchases are crucial drivers. Furthermore, the discounts provided by online pharmacies are projected to drive category expansion.

Nicotine Replacement Therapy (NRT) Market by Region

Based on region, the global nicotine replacement therapy market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America and Europe combined account for over 80% of the market. The dominance of this region can be attributed to the greatest retail sales of nicotine replacement products in the United States and Canada. The number of smokers interested in smoking cessation is increasing in the region, raising demand for various items such as gums, inhalers, and so on. Furthermore, smoking cessation rates in the United States are higher than in other nations, resulting in increased sales of these goods. According to a survey by the Centers for Disease Control and Prevention (CDC), around 68% of the U.S. population has decided to stop smoking. As a result, NRT solutions sales are expected to increase in the next years. Furthermore, gums are more commonly used in the United States to quit smoking than other treatments on the market.

The European market ranks second due to increased product sales in European countries such as the United Kingdom, Germany, and others. Furthermore, the regional administration is heavily focused on establishing 'stop smoking' efforts. For example, the United Kingdom government is committed to raising public awareness about the benefits of quitting smoking by routinely updating articles on its website.

The Asia Pacific market is predicted to grow at a healthy rate due to rising public awareness about the dangers of smoking and strong government support for a regional ban on tobacco consumption. For example, in March 2020, the Times of India published an article titled 'Quit Smoking,' which included information about NRT products. Latin America, the Middle East, and Africa had a smaller share due to a largely unexplored market for these products and a lack of understanding about the significance of quitting smoking.

Competitive Landscape 

Some of the market players in the global nicotine replacement therapy (NRT) include 

• Philip Morris Products S.A.
• British American Tobacco p.l.c.
• GlaxoSmithKline plc
• Japan Tobacco, Inc.
• Imperial Brands
• Johnson & Johnson Inc
• Glenmark
• Fertin Pharma
• Pierre Fabre SA, Laboratories
• Cipla Inc.
• Pfizer Inc.
• British American Tobacco Plc

Strategic Development 

• In June 2020, Taat Herb Co. announced the release of its innovative hemp cigarettes. The new product, according to the company, closely matches the sensation of smoking a traditional cigarette and contains 50mg of cannabidiol (CBD), which is effective in reducing tobacco dependence.
• In May 2020, Cipla Health's Nicotex smoking cessation brand established a partnership with the governments of Karnataka and Goa (India) to deliver nicotine replacement treatment to frontline workers.
• In July 2019, PL Developments increased its NRT portfolio by cooperating with Teva's OTC products in the United States.

Frequently Asked Questions About This Report