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    Nicotine Replacement Therapy (NRT) Products Market Report

    Nicotine Replacement Therapy (NRT) Products Market Report
    Report code - SR1453 Delivery - 2 Weeks
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    Nicotine Replacement Therapy Products Market Trends, Dynamics & Market Insights
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    Market Insights

    The Nicotine Replacement Therapy Products market is projected to grow from USD xx billion in 2020 to USD xx billion by 2026 at a CAGR of around 16.1% during the forecast period.

    What is nicotine replacement therapy?

    Nicotine replacement therapy is a type of therapy used to treat people with tobacco use disorder by taking nicotine by means other than tobacco. This therapy helps with quitting smoking or stopping chewing tobacco. It increases the chance of quitting tobacco smoking by about 55%. The different nicotine replacement therapy products include sprays, inhalers, chewing gums, and transdermal patches among others.

    Key Players

    Key players operating in the global Nicotine Replacement Therapy Products market are-

    • Pfizer Inc. (US)
    • Cipla Limited (India)
    • Novartis International AG (Switzerland)
    • GlaxoSmithKline plc (UK)
    • The Takeda Pharmaceutical Company Limited (Japan)
    • McNeil (US)
    • Revolymer (UK)
    • Imperial Brands plc (UK)
    • VMR Products (India).

    Market Dynamics

    The growth of the global nicotine replacement therapy (NRT) products market is primarily driven by increasing awareness among consumers about the ill effects of smoking. The rising number of smokers across geographies is likely to drive the growth of nicotine replacement therapy (NRT) products at a significant rate during the review period. In addition to this, increasing government initiatives aimed at creating awareness about the adverse impact of smoking on health is likely to create lucrative opportunities for the players operating in the global market in the coming years.

    Segments' Analysis

    Type Trends

    • The nicotine replacement therapy products market has been bifurcated into homes and hospitals.
    • Under these, the home segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.
    • The segment growth can be attributed to the increasing consumption of nicotine replacement therapy products across households.

    Regional Trends

    • The market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period.
    • The segment growth is primarily attributed to the presence of a large number of smokers coupled with the presence of various tobacco manufacturers.
    • The market growth in the North American region is expected to be driven by the increasing prevalence of smoking-related health disorders.

    COVID-19 Impact on Global Nicotine Replacement Therapy (NRT) Products Market

    The outbreak of the COVID-19 virus has affected the growth of the tobacco industry significantly. Stringent lockdown measures and restricted movement of people affected the product supply for a short period.

    Critical Questions Answered in the Report

    • What are the key trends in the global Nicotine Replacement Therapy (NRT) Products market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global Nicotine Replacement Therapy (NRT) Products market?
    • What are the key strategies adopted by the major vendors to lead in the global Nicotine Replacement Therapy (NRT) Products market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the Nicotine replacement therapy (NRT) products market hopes to have the greatest opportunity to convert-

    • Nicotine replacement therapy products distributors
    • Nicotine replacement therapy products suppliers
    • Nicotine replacement therapy products manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The nicotine replacement therapy products market is expected to witness an impressive growth of 16.1% CAGR in the coming years.

    Pfizer Inc. (US), Cipla Limited (India), Novartis International AG (Switzerland), GlaxoSmithKline plc (UK), The Takeda Pharmaceutical Company Limited (Japan), McNeil (US), Revolymer (UK), Imperial Brands plc (UK) and VMR Products (India) are among the key players in the nicotine replacement therapy products market.

    The home segment is expected to register a significant growth in the nicotine replacement therapy products market in the coming years.

    Asia-pacific accounted for the largest share in the Nicotine Replacement Therapy Products Market in 2020.

    Nicotine replacement therapy (NRT) products distributors, Nicotine replacement therapy (NRT) products suppliers, Nicotine replacement therapy (NRT) products manufacturers, Logistics organizations, Government bodies are the target audience in the nicotine replacement therapy products market.

    Increasing awareness among consumers about the ill effects of smoking is the prime factor driving the growth of nicotine replacement therapy products market.