PUBLISHER: The Business Research Company | PRODUCT CODE: 1409638
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409638
“Nicotine Addiction Treatment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nicotine addiction treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nicotine addiction treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The nicotine addiction treatment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Nicotine addiction treatment, also referred to as nicotine dependence treatment, is a process designed to aid individuals in quitting smoking by alleviating nicotine cravings and managing withdrawal symptoms.
The primary types of nicotine addiction treatment include pharmacological interventions, various therapeutic approaches, and other types of interventions. Pharmacology is a branch of medicine that studies the effects of drugs, including their characteristics, uses, and impact on the systems and functions of living organisms. Nicotine addiction treatment medications are typically distributed through various channels, including hospital pharmacies, retail pharmacies, and online pharmacies. These treatments are utilized by individuals across different age groups, such as Generation Z, millennials, Generation X, and the silent generation.
The nicotine addiction treatment market research report is one of a series of new reports from The Business Research Company that provides nicotine addiction treatment market statistics, including nicotine addiction treatment industry global market size, regional shares, competitors with a nicotine addiction treatment market share, detailed nicotine addiction treatment market segments, market trends and opportunities, and any further data you may need to thrive in the nicotine addiction treatment industry. This nicotine addiction treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The nicotine addiction treatment market size has grown rapidly in recent years. It will grow from $3.23 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The expansion observed during the historical period in nicotine addiction treatment can be attributed to various factors, including advances in scientific research, public health initiatives focused on smoking cessation, innovations in treatment methods, shifts in cultural attitudes towards smoking, and advocacy efforts by healthcare professionals promoting smoking cessation. These combined efforts have contributed to the growth and improvement of nicotine addiction treatment strategies.
The nicotine addiction treatment market size is expected to see rapid growth in the next few years. It will grow to $5.24 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth in the forecast period for nicotine addiction treatment can be attributed to various factors, including government regulations and policies aimed at reducing smoking rates, ongoing clinical research and development in the field, changing consumer behaviors and trends related to smoking cessation, competitive dynamics within the market, and strategies employed by the healthcare industry. Additionally, the integration of smoking cessation services into broader healthcare systems is expected to contribute to growth. Key trends in the forecast period include the adoption of personalized treatment approaches tailored to individual needs, the incorporation of technology-based interventions to support smoking cessation, exploration of alternative therapies and products, increased use of telemedicine and remote support for smoking cessation programs, and the integration of behavioral support to address psychological aspects of addiction. These trends reflect a comprehensive and evolving approach to nicotine addiction treatment.
The anticipated increase in tobacco addiction among teenagers is set to drive the growth of the nicotine addiction treatment market. Also known as nicotine dependency, tobacco addiction involves the craving to use tobacco, often in the form of cigarettes, which contain the highly addictive substance nicotine. The early onset of smoking among teenagers, driven by its anxiety-relieving and mood-elevating properties, has contributed to a significant demand for nicotine addiction treatment. As of November 2022, the Centers for Disease Control and Prevention reported that nearly 90% of daily cigarette smokers had initiated smoking by the age of 18. The introduction of flavored tobacco products has heightened their appeal to young individuals, with 80.2% of high school students and 74.6% of middle school students using tobacco products in the previous 30 days in 2021. Consequently, the increasing prevalence of tobacco addiction among teenagers is a key driver propelling the nicotine addiction treatment market.
The growth of the nicotine addiction treatment market is expected to be boosted by rising government initiatives aimed at promoting smoking cessation. These initiatives encompass policies, programs, and financial support that encourage individuals to discontinue smoking habits. Efforts include awareness campaigns, policy adjustments, and funding for smoking cessation programs, contributing to a larger population seeking support and treatment for nicotine addiction. In October 2023, the UK's Department of Health and Social Care unveiled the strategic document Stopping the Start, A New Plan to Create a Smoke-Free Generation, outlining measures to curb youth vaping, restrict disposable vape sales, and allocate funds for smoking cessation initiatives. With a commitment to establishing a smoke-free generation, the government's financial support includes £70 million ($95.2 million) annually for local authority-led stop smoking services and £45 million ($61.2 million) over two years for the nationwide 'Swap to Stop' program, providing free vape kits and behavioral support for smoking cessation. Therefore, the increasing government initiatives to encourage smoking cessation are expected to drive the growth of the nicotine addiction treatment market.
Innovative solutions have emerged as a prominent trend in the nicotine addiction treatment market, with major companies focusing on launching inventive products to maintain their market position. For example, in February 2022, the World Health Organization introduced the 'Quit Tobacco App,' the first app targeting all tobacco products to assist users in quitting by identifying triggers, setting goals, controlling cravings, and maintaining focus. Innovative approaches, such as this app, play a crucial role in helping individuals overcome tobacco addiction, acknowledging the difficulty of quitting for various reasons.
Major companies in the nicotine addiction treatment market are concentrating on developing innovative products, including medicated nicotine lozenges, to gain a competitive edge and address the growing need for smoking addiction control. These lozenges provide a controlled release of nicotine, helping manage withdrawal symptoms and cravings to support smoking cessation efforts. For instance, JB Chemicals & Pharmaceuticals introduced NOSMOK medicated nicotine lozenges in May 2021, designed to reduce the desire for tobacco consumption. Available in mint flavor and sugar-based or sugar-free variants with strengths of 2 mg and 4 mg, these lozenges support individuals in their journey to quit tobacco.
In June 2021, Philip Morris International Inc. acquired Fertin Pharma for $820 million, aiming to expand into smoke-free products, including nicotine, using Fertin technologies in scientifically validated botanicals and additional self-care wellness products. Fertin Pharma, a Denmark-based pharmaceutical company, specializes in pharmaceutical and nutraceutical products, including medical chewing gum used in nicotine addiction treatment.
Major companies operating in the nicotine addiction treatment market report are Cipla Limited, Pfizer Inc., Glenmark Pharmaceuticals Limited, Johnson & Johnson Private Limited, Japan Tobacco Inc., Philip Morris International Inc., British American Tobacco PLC, Imperial Brands PLC, GlaxoSmithKline plc, Perrigo Company PLC, NJOY LLC, Takeda Pharmaceutical Company Limited, Dr. Reddy's Laboratories Limited, Cambrex Corporation, Addex Therapeutics Ltd., Astraea Therapeutics LLC, Cerecor Inc., Embera NeuroTherapeutics Inc., Hager Biosciences LLC, Heptares Therapeutics Limited, Omeros Corporation, RTI International, Novartis International AG, Sanofi S.A., Sandoz International GmbH, Boehringer Ingelheim International GmbH, Alkermes plc, Teva Pharmaceutical Industries Ltd., Mylan N.V., Besins Healthcare .
North America was the largest region in the nicotine addiction treatment market in 2023. The regions covered in the nicotine addiction treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the nicotine addiction treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The nicotine addiction treatment market consists of revenues earned by entities by providing counselling, support groups, behavioral therapy and medication. Establishments such as hospitals, health care clinics and health care providers that provide nicotine replacement medications and residential treatment programs are included in this market. The nicotine addiction treatment market also includes sales of gums, and drugs that are used in providing nicotine addiction treatment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.