What is Nicotine Gum Market Scope?
Nicotine gum is an over-the-counter, medicated chewing gum that delivers a dose of nicotine orally aiding in nicotine replacement therapy (NRT), a process for smoking cessation and quitting smokeless tobacco. Nicotine gum belongs to a class of medications called smoking cessation aids. It works by providing nicotine to the smoker’s body to reduce the withdrawal symptoms experienced when smoking is stopped and as a substitute oral activity to lessen the urge to smoke.
Influencing Trend:
An increasing number of people quitting smoking with the aid from medications like flavored nicotine gums
Market Growth Drivers:
The rise in the number of people willing to quit smoking due to increased awareness about the fatal diseases caused by smoking like lung cancer, heart attacks, and chronic obstructive pulmonary disease. and Increased government-sponsored projects and help centers worldwide for helping cigarettes addicted people quit smoking.
Challenges:
The availability of other smoking cessation products like nicotine patches, nasal sprays, inhalers, and lozenges may hinder the market penetration of nicotine gums. and Unawareness about nicotine replacement medications like nicotine gums in rural locations.
Restraints:
There are side effects associated with the long term usage of nicotine gums like narrowing of arteries, hypertension, and esophageal reflux.
Opportunities:
There is an increased opportunity for pharmaceuticals companies for the expansion of nicotine replacement products owing to the rise in the number of people seeking the help of medication. and Government nod for the purchase of nicotine gums without a prescription may further increase the market by providing prospects to many local retailers to trade nicotine gums.
The Nicotine Gum market study is being classified by Type (Flavored {Mint, Fruit, Cinnamon, and Others} and Unflavored), by Application and major geographies with country level break-up.
The market for nicotine gums seems to be fragmented and with the presence of several companies, there is high competition amongst leading players. The rising enrolment in smoking cessation therapies and the increase in the number of people quitting smoking will provide substantial growth to nicotine gum manufacturers. Analysts at AMA predicts that Players from United States and European will contribute to the maximum growth of Global Nicotine Gum market throughout the predicted period.
Novartis International AG (Switzerland), Johnson and Johnson (United States), GlaxoSmithKline (United Kingdom), Cambrex Corporation (United States), Perrigo (Ireland), Fertin Pharma (Denmark), Cipla (India), Glenmark Pharmaceuticals (India), Enorama Pharma (Sweden), Alchem International Pvt. Ltd. (India), Dr. Reddy’s Laboratories (India) and Teva Pharmaceutical Industries (Israel) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Nicotine Gum market by Type, Application and Region.
On the basis of geography, the market of Nicotine Gum 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).
Market Influencers and their Development Strategies
On May 21, 2019, GlaxoSmithKline launched new Nicorette Coated Ice Mint Lozenges, the first-ever coated lozenge, in partnership with the Dale Earnhardt Jr., a former American race driver an ex-smoker and In November 2017, Glenmark Pharmaceuticals launched a nicotine replacement therapy gum named Kwitz
Key Target Audience
Pharmaceutical Companies, Pharmacy Chains/Drug Stores, Drug Suppliers/Traders, Drug Exporters/Importers, Investors, Regulatory and Government Bodies, Upstream Vendors, Downstream Vendors and Others
Nicotine Gum Market Study: Important Years
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Nicotine Gum Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Nicotine Gum industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.