Nicotine Replacement Therapy Market: Current Analysis and Forecast (2021-2027)

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Emphasis By Type (Gums, Patches, Lozenges, Inhalers, Others); By Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy); and Region/Country

Detailed Analysis of COVID-19 Impact on the Nicotine Replacement Therapy Market

Pages:

183

Table:

38

Figure:

131

Report ID:

UMHE21892

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Nicotine Replacement Therapy Market
Nicotine Replacement Therapy Market

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The nicotine replacement therapy is expected to witness a CAGR of around 14% during the forecast period (2021–2027). Nicotine replacement therapy (NRT) is effective in helping people quit smoking through patches, inhalers, gums, sprays, and lozenges that are free of the toxic compounds found in tobacco. Factors that are accelerating its market growth such as growing awareness programs by the government, rising chronic diseases such as respiratory diseases, and cardiovascular diseases coupled with the increasing young population addicting to smoking or tobacco consumption are accentuating the market size of nicotine replacement therapy. In addition, technological advancements in the NRT market are continuing, resulting in an increase in the number of people moving to advanced products. The acceptance of NRT is anticipated to be aided by new innovations such as heat-not-burn products, flavored chewing gums, and lozenges are propelling the market growth.

Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, AstraZeneca, Johnson & Johnson Private Limited, Merck & Co. Inc., and Cipla Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new and advanced nicotine replacement therapy.

Insights Presented in the Report

“Amongst type, gums category accounted for the majority share in the market in 2020”

Based on type, the nicotine replacement therapy market is segmented into gums, patches, lozenges, inhalers, and others. In 2020, The gums category is anticipated to witness a significant growth rate over the forecast period owing to the rising prevalence of chronic diseases, increasing awareness of smoking & tobacco consumption, and the introduction of technologically advanced products are the factors driving the demand for nicotine replacement therapy. Therefore, increasing awareness worldwide is anticipated to increase the NRT product’s sales during the forecast period. Furthermore, The World Health Organization (WHO) Framework Convention on Tobacco Control (WHO FCTC) is the first international public health treaty negotiated under WHO auspices. This treaty contains guidelines and requirements for the implementation of the most cost-effective tobacco control measures available necessary for reducing the smoking epidemic.

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“Amongst distribution channel, offline category is expected to witness highest CAGR during the forecast period”

Based on distribution channel, the nicotine replacement therapy market is categorized into online pharmacies and offline pharmacies. In 2020, the offline category dominated the market. This is mainly due to the increased number of patients who are suffering from chronic diseases such as cancer, respiratory disease, and excessive smoking habits. For instance, according to the Centers for Disease Control and Prevention (CDC), People who smoke cigarettes are 15 to 30 times more likely to get lung cancer or die from lung cancer than people who do not smoke. These factors will increase sales of NRT products & spread awareness about the importance of prohibiting smoking. In addition, online pharmacies are projected to witness the fastest growth during the forecast period. Furthermore, the flexibility, comfort, and convenience provided by the online purchase of medications are major factors driving the segment.

“North America to witness significant growth during the forecast period”

For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. This is mainly due to the rising adoption rate of NRT products, heated tobacco, and well-established healthcare infrastructure are some key factors that will drive the market growth rate in this region.     Furthermore, to reduce smoking & tobacco consumption the U.S. Food and Drug Administration (FDA) approved nicotine replacement therapy by introducing products such as nicotine gums, patches, lozenges, and others. pharmaceutical companies GlaxoSmithKline and Johnson & Johnson have been supplying products worldwide.

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Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry.


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1.1.    Market Definitions
1.2.    Limitation 
1.3.    Stake Holders 
1.4.    Currency used in Report
2.1.    Research Process of the Nicotine Replacement Therapy Market
2.2.    Research Methodology of the Nicotine Replacement Therapy Market
2.3.    Forecasting Method
2.4.    Respondent Profile
2.5.    Main Objective of the Nicotine Replacement Therapy Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5.       NICOTINE REPLACEMENT THERAPY MARKET COVID-19 IMPACT
6.       NICOTINE REPLACEMENT THERAPY MARKET REVENUE, 2019-2027F
7.1.    Gums
7.2.    Patches
7.3.    Lozenges
7.4.    Inhalers
7.5.    Others
8.1.    Hospitals Pharmacy
8.2.    Retail Pharmacy
8.3.    Online Pharmacy
9.1.    North America Nicotine Replacement Therapy Market
9.1.1.U.S.  
9.1.2.Canada  
9.1.3.Rest of America 
9.2.    Europe Nicotine Replacement Therapy Market
9.2.1.Germany  
9.2.2.U.K.  
9.2.3.France  
9.2.4.Spain  
9.2.5.Italy  
9.2.6.Rest of Europe 
9.3.    Asia-Pacific Nicotine Replacement Therapy Market
9.3.1.China  
9.3.2.India  
9.3.3.Japan  
9.3.4.Australia  
9.3.5.Rest of Asia-Pacific 
9.4.    Rest of the world Nicotine Replacement Therapy Market
10.1.                     Market Drivers
10.2.                     Market Challenges
10.3.                     Impact Analysis
11.   NICOTINE REPLACEMENT THERAPY MARKET OPPORTUNITIES
12.   NICOTINE REPLACEMENT THERAPY MARKET TRENDS
13.   LEGAL & REGULATORY FRAMEWORK
14.1.                     Demand Side Analysis
14.2.                     Supply Side Analysis
15VALUE CHAIN ANALYSIS
16.1.           Competitive Landscape
16.1.1.    Porter’s Five Forces Analysis
17.1.                     Pfizer Inc. 
17.2.                     GlaxoSmithKline plc 
17.3.                     Novartis AG 
17.4.                     Mylan N.V. 
17.5.                     Teva Pharmaceutical Industries Ltd. 
17.6.                     Sanofi  
17.7.                     AstraZeneca 
17.8.                     Johnson & Johnson Private Limited 
17.9.                     Merck & Co., Inc. 
17.10.                  Cipla Inc.  
18DISCLAIMER

Research Methodology

Analyzing the historical market, estimating the current market, and forecasting the future market of the nicotine replacement therapy market were the three major steps undertaken to create and analyze the adoption of nicotine replacement therapy in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the nicotine replacement therapy market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the nicotine replacement therapy market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the nicotine replacement therapy market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the nicotine replacement therapy market. Further, we conducted factor analysis using dependent and independent variables such as various types, and distribution channels of nicotine replacement therapy. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the nicotine replacement therapy market sector across the globe.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the nicotine replacement therapy market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of revenue (USD) and the adoption rate of the nicotine replacement therapy market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the nicotine replacement therapy market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Nicotine Replacement Therapy Market
Nicotine Replacement Therapy Market

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the nicotine replacement therapy market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and distribution channel in the nicotine replacement therapy market.

The main objective of the Nicotine replacement therapy Market Study

The current & future market trends of the nicotine replacement therapy market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the nicotine replacement therapy market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type and distribution channel.
  • Define and analysis of the regulatory framework for the nicotine replacement therapy market industry.
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
  • Analyze the current and forecast market size of the nicotine replacement therapy market for the major region.
  • Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world.
  • Company profiles of the nicotine replacement therapy market and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry

 

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