Press Release / Health and Fitness / Smoking Cessation and Nicotine De-addiction Products Market Poised to Take Off by 2026

Smoking Cessation and Nicotine De-addiction Products Market Poised to Take Off by 2026

The Global Smoking Cessation and Nicotine De-addiction Products Market was valued at US$ 11,285.7 million in 2015 and is expected to witness a moderate CAGR of 17.3% during the forecast period (2016 – 2024).

As the name suggests, smoking cessation and nicotine de-addiction products help smokers and other tobacco users overcome their addiction. Smoking cessation products and nicotine de-addiction products work in the form of gap fillers or as urge controllers to the actual nicotine and tobacco, which does relatively less harm to the body and helps diminish the powerful urge for smoking or consuming other tobacco products. Such products are in the form of chewable gums, lozenges, patches and e-cigarettes. E-cigarettes are the latest innovation, which can potentially replace cigarettes and favor the growth in smoking cessation and nicotine de-addiction products market over the forecast period (2016–2024).

According to Centers for Disease Control and Prevention National Center for Chronic Disease Prevention and Health Promotion Office on Smoking and Health, in 2016, the use of e-cigarette grew by around 900% from 2011 to 2015 among high school students. E-cigarettes are commonly used product form of tobacco among youth in the U.S., surpassing conventional tobacco products such as cigarettes, chewing tobacco, cigars, and hookahs.

Market Dynamics

Rise in depression and anxiety among the population globally is one of the major factors expected to favor market growth for smoking cessation and nicotine de-addiction products. Rising trend among teenagers for taking up smoking products and e-cigarettes due to increasing peer pressure are further favoring growth of the global smoking cessation and nicotine de-addiction products market. The market is estimated to witness considerable revenue traction over the forecast period, due to increasing lifestyle changes and government initiatives promoting smoking cessation and nicotine de-addiction products in Asia and European countries is in turn expected to support growth of the smoking cessation and nicotine de-addiction products market in the near future. According to Ministry of Health & Family Welfare (MoHFW), Government of India, every March 9, is celebrated as national no-smoking day, which in turn is expected to favor increase in awareness about smoking cessation and nicotine de-addiction products among the population. This is expected to favor growth of the smoking cessation and nicotine de-addiction products market over the forecast period.

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High smoking rates and nicotine addiction

According to the World Health Organization (WHO), tobacco results in one premature death every six seconds globally. Moreover, in 2015, over 1.1 billion people smoked tobacco globally, with the rate increasing in Africa and Mediterranean Region. Also, tobacco smoking prevalence is the highest in Asia. Therefore, this could be a potential market for the manufacturers in the global smoking cessation and nicotine de-addiction products market. Nicotine being a major addictive component, is harmful to active and passive smokers. Furthermore, concerns regarding the uptake of e-cigarettes by non-smokers considering it as safe for smoking is deterring growth of e-cigarettes in unregulated markets such as India.

Creating awareness about health impacts related to smoking to aid the growth of smoking cessation and nicotine de-addiction products market

Around 7 out of 10 of smokers in the U.S. reported the desire to quit smoking in 2015, as per results of a study by the Centers for Disease Control and Prevention (CDC). However, lack of motivation, support, and also proper therapy guidance is hindering uptake of smoking cessation and nicotine de-addiction products. Furthermore, use of e-cigarettes in unregulated markets such as India and Africa is under surveillance by regulatory authorities. The WHO has expressed concern over the sale of e-cigarettes in India openly through online marketplace and has advised companies to include health warnings when marketing the product, unless substantial evidences confirming its safety are found.

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