The latest report on “Nicotine Gum Market (Dosage – 2 Mg, 4 Mg and 6 Mg; Distribution Channel – Retail Stores, Retail Pharmacies and Online Retail): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global nicotine gum market is projected to grow at a CAGR of 3.82% over the forecast period of 2019-2025.
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Tobacco kills more than 8 million people every year, worldwide. Out of these, around 7 million people are direct smokers while the rest of the people are passive smokers. Smoking is the major cause of cancers. Quitting smoking is difficult for some people as it has become their habit. Smoking cessation therapy helps smokers to get rid of smoking. In the smoking cessation therapy nicotine replacement therapy (NRT) products are used. Nicotine gums are one of the extensively used NRT product around the world to help quit smoking. The nicotine gum market is highly competitive and fragmented in nature. Many of the local drug manufacturers compete with the well-established players in the market. The key market players in the nicotine gum market include Novartis Consumer Health Inc, GlaxoSmithKline plc. Johnson and Johnson, British American Tobacco plc and others are focusing on broadening the product portfolio by adding new flavors and innovative products.
Rise in awareness regarding health hazards associated with smoking is the major driving factor for the nicotine gum market, globally. Smoking is one of the main reasons for lung cancer. Other cardiac and berating disorders are also caused by smoking. Moreover, the rise in smoking cessation campaigns is anticipated to boost the market growth. Government organizations and several NGOs are taking initiatives to spread awareness about health issues related to smoking.
Furthermore, the increase in spending by the government in developing countries for better health care conditions is contributing to the growth of the market. Additionally, an increase in the number of people actively quitting smoking is further propelling the nicotine gum market. However, the side effects of currently available NRT products are hindering the market growth.
North American Region Dominated the Global Nicotine Gum Market
In terms of region, the global nicotine gum market is divided into four regions including, North America, Europe, Asia-Pacific, and Rest of the World. North American region dominated the global nicotine gum market owing to the high number of smokers, the government initiatives to encouraging people to quit smoking through several anti-smoking campaigns coupled with the rise in a number of new product launches in the region. However, the nicotine gum market in the Asia-Pacific is expected to grow at the highest rate owing to the rise in health awareness, increase in population, and development of public health care systems in countries such as China, India, and South Korea.
The report on global nicotine gum market covers segments such as dosage, and distribution channel. On the basis of dosage, the sub-markets include 2 Mg, 4 Mg and 6 Mg. On the basis of the distribution channel, the sub-markets include retail stores, retail pharmacies and online retail.
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The report provides profiles of the companies in the market such as Novartis Consumer Health Inc, GlaxoSmithKline plc. Johnson and Johnson, British American Tobacco plc, ITC Limited, Cambrex Corporation, Pfizer, Inc., Perrigo Company plc, Takeda Pharmaceutical Co., Ltd., and Other Companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the nicotine gum.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.