Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global nicotine replacement therapy (NRT) market was valued at US$ 51.5 billion in 2021 and is expected to register a revenue CAGR of 15% and reach US$ 181.17 billion by 2030.

Nicotine Replacement Therapy (NRT) Market Fundamentals 

Cigarette smoking is a chronic health concern that affects people all over the world. The negative economic and health impacts of smoking have received more attention. Tobacco contains nicotine, which is addictive, and tobacco use almost always results in nicotine addiction. Nicotine replacement therapy (NRT) products and medicines are the most common smoking cessation aids and can be used with counseling and psychotherapy. However, some nicotine withdrawal symptoms, such as anxiety and irritability, are noted during the process of quitting smoking, leading to an individual’s resumption of smoking. Nicotine replacement therapy is as successful as bupropion in assisting to quit smoking. In order to help patients quit smoking, all kinds of nicotine replacement treatments, including nicotine gum, patches, nasal spray, inhalers, and lozenges, have identical success rates. However, the likelihood that someone would stick to a particular treatment varies, with nicotine patches having the highest compliance, followed by nicotine gum, inhalers, and nasal sprays. Combining a couple of different nicotine replacement techniques may boost success rates in quitting smoking. Furthermore, employing nicotine replacement therapy in conjunction with counseling has been shown to increase tobacco cessation rates.

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Nicotine Replacement Therapy (NRT) Market Dynamics 

The increasing number of technological developments and the growing number of individuals opting for nicotine replacement treatment are expected to fuel the revenue growth of the global nicotine replacement therapy (NRT) market. Rising public awareness about the dangers of smoking is a major driving force for market revenue growth. The global population of smokers has topped 1.1 billion individuals. People are opting for smoking cessation therapy motivated by government measures, such as the Affordable Care Act, insurance laws, and various programs to raise awareness about the bad impact of smoking on health through counseling. These factors are fueling revenue growth opportunities in the global market.

Organizations such as the American Lung Association and the Centers for Disease Control and Prevention (CDC) are focusing on increasing awareness about the medical concerns caused due to smoking. According to the NHS, smoking causes 70% of lung cancer cases. Furthermore, smokers are more likely to have a heart attack. Every year, 480,000 people in the United States die due to smoking. The CDC operates a national funded campaign called Tips from Former Smokers (Tips) to urge healthcare providers to inform patients about the dangers of smoking and to assist them in quitting safely.

Nicotine Replacement Therapy (NRT) Market Ecosystem 

The global nicotine replacement therapy (NRT) market has been analyzed from three perspectives: type, distribution channel, and region. 

Nicotine Replacement Therapy (NRT) Market by Type

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Based on type, the global nicotine replacement therapy (NRT) market has been segmented into gums, patches, lozenges, inhalers, and others.

The gums segment led the global nicotine replacement therapy (NRT) market revenue share, and this trend is expected to continue during the forecast period. This is owing to nicotine gum's benefits, such as providing an alternative chewing activity for chewing tobacco.

Nicotine Replacement Therapy (NRT) Market by Distribution Channel 

Based on the distribution channel, the global nicotine replacement therapy (NRT) market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy.

The retail pharmacy segment shall account for the highest share during the forecast period. The availability of a wide range of affordable NRT products at retail chains, such as Walgreens and CVS, supports the segment’s predominance. Furthermore, hospital affiliations with these chains contribute to expanding the market space. The online pharmacy segment is expected to grow at the fastest revenue CAGR during the forecast period. The comfort, flexibility, and convenience offered by online drug purchases are crucial drivers. Furthermore, the discounts provided by online pharmacies are projected to drive the category expansion.

Nicotine Replacement Therapy (NRT) Market by Region

Based on region, the global nicotine replacement therapy (NRT) market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.

North America and Europe combined account for over 80% of the market. The dominance of this region can be attributed to the greatest retail sales of nicotine replacement products in the United States and Canada. The number of smokers interested in smoking cessation is increasing in the region, raising demand for various items, such as gums and inhalers. Furthermore, smoking cessation rates in the United States are higher than in other nations, resulting in increased sales of these goods. According to a survey by the CDC, around 68% of the U.S. population has decided to stop smoking. As a result, NRT solutions sales are expected to increase in the next years. Furthermore, gums are more commonly used in the United States to quit smoking than other treatments on the market.

The market in Europe ranks second due to increased product sales in several European countries, such as the United Kingdom and Germany. Furthermore, the regional administration is heavily focused on establishing ‘stop smoking’ efforts. For instance, the United Kingdom Government is committed to raising public awareness about the benefits of quitting smoking by routinely updating articles on its website.

The Asia Pacific market is predicted to grow at a healthy revenue CAGR due to rising public awareness about the disadvantages of smoking and strong government support for a regional ban on tobacco consumption. For instance, in March 2020, the Times of India published an article titled Quit Smoking, which included information about NRT products.

Nicotine Replacement Therapy (NRT) Market Competitive Landscape 

The prominent players in the global nicotine replacement therapy (NRT) include: 

• Philip Morris Products S.A.
• British American Tobacco p.l.c.
• GlaxoSmithKline plc
• Japan Tobacco, Inc.
• Imperial Brands
• Johnson & Johnson Inc
• Glenmark
• Fertin Pharma
• Pierre Fabre SA, Laboratories
• Cipla Inc.
• Pfizer Inc.
• British American Tobacco Plc

Nicotine Replacement Therapy (NRT) Market Strategic Developments 

• In June 2020, Taat Herb Co. announced the release of its innovative hemp cigarettes. The new product, according to the company, closely matches the sensation of smoking a traditional cigarette and contains 50mg of cannabidiol (CBD), which is effective in reducing tobacco dependence.
• In May 2020, Cipla Health's Nicotex smoking cessation brand established a partnership with the governments of Karnataka and Goa (India) to deliver nicotine replacement treatment to frontline workers.

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