Smoking cessation medications are anti-addiction medications. Nicotine, an alkaloid compound, causes addictive dependence on cigarettes and other smoking products. Smoking cessation medications are anti-addiction medications. After quitting smoking, a person may experience withdrawal symptoms such as anxiety, strong cravings, a depressed mood, insomnia, and mood changes. With rising smoking addictions, a high prevalence of smoking-related diseases, and anti-smoking campaigns promoting smoking cessation drugs, the global smoking cessation drugs market is booming.
MARKET SCOPE
The Smoking Cessation Drugs Market is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Smoking Cessation Drugs Market with detailed market segmentation by Product, Distribution, and geography. The report provides key statistics on the market status of the leading Smoking Cessation Drugs Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on Product, the Smoking Cessation Drugs Market is segmented into Drug Therapy, E-Cigarettes, Nicotine Inhalers, Nicotine Replacement Therapies, and Nicotine Sublingual Tablets
- Based on Distribution, the market is segmented into Drug stores, Hospital Pharmacies, Online Pharmacies, and Retail Pharmacies.
MARKET DYNAMICS
Drivers:
- An increasing number of smokers and stringent laws for smoking such as a ban on smoking in a public places are fuelling the market growth.
- The reimbursements policies for smoking cessation drug therapies, anti-smoking programs by WHO such as the 'Tobacco Free Initiative'
- Increasing consciousness and education among the young population and smokers.
- A strict regulatory requirement for an electronic cigarette as a medical device is restraining the market growth.
- The high cost of smoking cessation drugs, adverse reactions, and smoking relapse.
- Lack of mass acceptance, and less awareness of smoking cessation drugs are hampering the smoking cessation drugs market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South And Central America. The Smoking Cessation Drugs Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South And Central America after evaluating political, economic, social and technological factors affecting the Smoking Cessation Drugs Market in these regions.
IMPACT OF COVID-19 ON SMOKING CESSATION DRUG MARKET
COVID-19 first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The pandemic has affected the growth of this market worldwide due to the business shutdown, worldwide lockdown, and supply and trade disruptions. While the situation is rapidly evolving, the pandemic had already disrupted the world in three ways the direct health impact the impact on the healthcare system, and the social and economic consequences of the pandemic.
MARKET PLAYERS
The report covers key developments in the Smoking Cessation Drugs Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the expansion of the business and customer base of market players. The market players in the Smoking Cessation Drugs Market are anticipated to have lucrative growth opportunities in the future with the rising demand for Smoking Cessation Drugs Market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Smoking Cessation Drugs Market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, and the key development in the past five years.
- British American Tobacco PLC
- Dr. Reddy's Laboratories
- Fontem Ventures
- GlaxoSmithKline
- GSK
- Imperial Tobacco
- Johnson & Johnson
- Kimree Technology
- Nicotek LLC
- Njoy Inc.