Kenneth Research has examined the statistical and analytical approach that is required for the growth of Smoking Cessation and Nicotine De-addiction Products Market for the period 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smoking Cessation and Nicotine De-addiction Products Market Products.
Request To Download Sample of This Strategic Report: –https://www.kennethresearch.com/sample-request-10083621
According to the statistics by the World Bank, in the year 2017, a total of 9.896 % of GDP was observed around the world as current health expenditure.
Smoking cessation and nicotine de-addiction products are devices and therapies used for treating symptoms associated with the discontinuation of nicotine consumption. According to the World Health Organization (WHO), tobacco kills around 6 Mn people each year globally, of which, almost 5 Mn deaths are because of direct tobacco use. Nicotine also causes critical ailments like cardiovascular diseases, cancer, etc. Owing to the detrimental effects of tobacco on health, governments in developed countries are encouraging smokers to refrain from consuming tobacco products. The global smoking cessation and nicotine de-addiction products market is expected to expand at a compound annual growth rate (CAGR) of 20.2%, leading to a global revenue of USD 39.51 Bn by 2023, from USD 15.77 Bn in 2018.
Products segment insights:
The global nicotine replacement therapy (NRT) market had the lowest market share (about 16%) in 2018, mainly due to the reluctance to adopt smoking cessation products, and lack of awareness about nicotine de-addiction products. On the other hand, the e-cigarettes segment is anticipated to expand at a higher CAGR of 22.0% during the forecasted period (2018-2023). This high growth can be attributed to e-cigarettes’ ability to replicate the same sensation as smoking a conventional cigarette while minimizing the health risks associated with the latter. The increasing adoption of e-cigarettes is because of the availability of a variety of flavors and nicotine concentrations.
Regional insights:
The Americas have been leading the market with its innovations in smoking cessation products, and account for approximately 42% of the global market. However, Asia-Pacific is expected to have the highest growth rate during the forecast period due to high tobacco consumption in this region, coupled with rising disposable income.
Companies covered:
1. NJOY
2. CIPLA
3. Johnson & Johnson
4. GlaxoSmithKline
5. Pfizer
6. Imperial Brands PLC
7. Nicotek, LLC.
8. Japan Tobacco Inc.
Customizations available
With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at sales@kennethresearch.com, or connect with us here.
Download Sample of This Strategic Report: –https://www.kennethresearch.com/sample-request-10083621
The Market report answers the following questions:
What is the aim of the report?
- The Smoking Cessation and Nicotine De-addiction Products Market report presents the estimated market size of Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
Request for Full Report:https://www.kennethresearch.com/sample-request-10083621
Related reports:
Blockchain Technology Market
5G Market
Mobile Application Market
Automotive Augmented Reality and Virtual Reality Market
Asia Pacific Augmented Reality (AR) Market
About Kenneth Research:
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Contact Us
Name: Kenneth research
Email: sales@kennethresearch.com
Phone: +1 313 462 0609