Smoking Cessation Products Market Scope
The smoking cessation products are the products that are developed to help quit or at least reduce the addiction to smoking. The various health-related concerns, increasing the desire to quit smoking is expected to increase the smoking cessation product market. The rising consumption of smoking and tobacco among teenagers is raising concerns resulting in stringent regulatory norms about smoking products, due to which smoking cessation product market will continue to rise during the forecasted year. The use of cigarette remains the leading cause of preventable death in the United States, marking an estimated 480,000 lives or more each year. Although cigarette use in the United States continues to decline, according to the Centers for Disease Control and Prevention (CDC), 34.2 million American adults smoked cigarettes every day or some days in 2018, and nearly 1.2 million American middle and high school students smoked cigarettes in the past 30 days in 2019.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | GlaxoSmithKline plc (United Kingdom), Pfizer Inc. (United States), Johnson & Johnson (United States), Reynolds American, Inc. (United States), Cipla Inc. (India), Imperial Brands (United Kingdom), Perrigo Company plc, (Ireland) and Amarantus Bioscience Holdings, Inc. (United States) |
CAGR | % |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Smoking Cessation Products market throughout the predicted period.
GlaxoSmithKline plc (United Kingdom), Pfizer Inc. (United States), Johnson & Johnson (United States), Reynolds American, Inc. (United States), Cipla Inc. (India), Imperial Brands (United Kingdom), Perrigo Company plc, (Ireland) and Amarantus Bioscience Holdings, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Takeda Consumer Healthcare Company Limited (Japan) and Kimree Technology Co.,Ltd. (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Smoking Cessation Products market by Type and Region with country level break-up.
On the basis of geography, the market of Smoking Cessation Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In June 2019, Amarantus Bioscience Holdings Inc., the company developing proprietary orphan neurologic, regenerative medicine and ophthalmic therapies and diagnostics announced that it entered the letter of intent ('LOI') with the Alchemist's Kitchen a plant-based company to establish a joint venture for commercialization of hemp-based herbal smokable products ‘Herbal Smokes’ for Addiction Treatment Including Smoking Cessation.
In November 2019, Witi, a technology company building AI-powered, medical-grade vaporization devices, announced a partnership with Perrigo Company plc, to license Witi’s patent-pending hardware and software IP in development of a new, inventive smoking cessation product. The two companies will develop an Electronic Nicotine Delivery System (ENDS), that if successful, would be submitted for approval by the US Food and Drug Administration (FDA) and other international regulatory agencies.
Influencing Trend:
Increasing Consumption of Gums and E-Cigarette and The Emergence of Various Flavoured Smoking Cessation Products
Market Growth Drivers:
The Growing Population Including Teenagers with Addiction to Smoking and Tobacco Leading to Higher Chances of Lungs Related Problems and Awareness about the Harmful Effects of Smoking Addiction and Desire to Quit Smoking
Challenges:
High Cost of Smoking Cessation Products and Treatment and Need for Frequent Dosing of Smoking Cessation Products
Restraints:
Risk of Side Effects Associated with Consumption of Smoking Cessation Products
Opportunities:
Stringent Regulatory Guidelines and Standard Regarding Consumption of Smoking Products will Boost the Smoking Cessation Products and Introducing Various Smoking Treatment Program
Key Target Audience
Smoking Cessation Products Manufacturers, Smoking Cessation Products International Traders, Smoking Cessation Products Distributors and Suppliers, Regulatory Bodies, Potential Investors, Research and Development Institutes, Upstream and Downstream Buyers and Others