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Nicotine Replacement Therapy Market to Surpass USD 234.13 Billion by 2031 Fueled Rising Health Concerns and Technological Advancements

The Nicotine Replacement Therapy Market held a value of USD 69 billion in 2023. It is anticipated to register a robust compound annual growth rate (CAGR) of 16.5% from 2024 to 2031.

Nicotine Replacement Therapy
Nicotine Replacement Therapy Market

Soaring Smoker Numbers and Health Concerns Drive NRT Market

The nicotine replacement therapy (NRT) market is experiencing a significant upswing. This surge is fueled by two key factors: a growing population of smokers worldwide (now exceeding 1.1 billion) and a heightened awareness of the health detriments linked to smoking. Governments are also playing a part in propelling market growth through initiatives like the Affordable Care Act and insurance regulations that promote smoking cessation programs. Additionally, campaigns like the CDC’s “Tips From Former Smokers” encourage healthcare professionals to guide patients towards quitting smoking and adopting safer alternatives like NRT.

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Innovation Heats Up NRT Appeal

Technological advancements are playing a critical role in expanding the NRT market. The development of innovative products like heat-not-burn devices, flavored chewing gums, and lozenges is making NRT a more attractive option compared to traditional cigarettes. These advancements offer a socially acceptable and potentially less harmful alternative for smokers looking to quit.

To broaden its reach in the Middle East, Johnson & Johnson Private Limited donated nicotine replacement therapy (NRT) products to the Jordanian Ministry of Health in January 2021.

E-cigarette Bans Cloud Market Potential

However, the market faces headwinds due to e-cigarette bans implemented in certain countries, including India, Mexico, and Brazil. These bans restrict the market potential of a potentially promising segment within the NRT landscape.

A Cancer Connection and Widespread Tobacco Use

The nicotine replacement therapy (NRT) market is flourishing due to two concerning trends: a rise in cancer linked to smoking and stubbornly high tobacco use rates.

Cancer Concerns Drive Quitting

Smoking’s role as a major risk factor for cancers like lung, throat, and pancreas is becoming increasingly clear. “The CDC reveals a clear link between smoking and lung cancer deaths in the U.S.  A staggering 80-90% of lung cancer fatalities are attributed to smoking”. This awareness motivates smokers to quit, and healthcare institutions are stepping up with smoking cessation programs utilizing NRT. Cancer treatment centers are also incorporating NRT to help patients quit smoking before or after diagnosis.

High Tobacco Prevalence Creates Demand

The World Health Organization (WHO) paints a troubling picture: roughly 20.9% of people aged 15 and above used tobacco in 2022, with a global smoking prevalence of 15% within this age group. This widespread tobacco use fuels a high burden of tobacco-related illnesses like cancers, heart disease, and lung diseases. As public awareness of these risks rises, more individuals are turning to NRT as a smoking cessation method. The WHO further highlights the severity of the issue – tobacco use is responsible for an alarming 25% of global cancer deaths, and smokers are 22 times more likely to develop lung cancer compared to non-smokers. These factors collectively create a significant demand for NRT products.

Government Initiatives Fuel Market Growth

Governments across the globe are implementing various initiatives to raise awareness about the dangers of tobacco use and promote smoking cessation methods. These initiatives include awareness campaigns and strategies to encourage the adoption of NRT products. For instance, “the Indian government included NRT in its National List of Essential Medicines (NLEM) in September 2022”. This inclusion paves the way for insurance coverage and reimbursement for NRT products in India, potentially increasing their accessibility and adoption.

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List of Nicotine Replacement Therapy Companies Profiled in Report:

  • Lucy Goods Inc
  • Pfizer Inc
  • GlaxoSmithKline plc
  • Cipla Ltd
  • PL Developments
  • Rubicon Research Pvt Ltd
  • Sparsha Pharma International Pvt. Ltd.
  • Johnson & Johnson Inc
  • Zydus Cadila
  • Fertin Pharma Limited
  • Fertin Pharma
  • Philip Morris Products S.A.
  • British American Tobacco plc
  • Japan Tobacco Inc.
  • Imperial Brands plc

Nicotine Replacement Therapy Industry Segmentation as Follows:

By Product

  • Gums
  • Patches
  • Lozenges
  • Others

By Sales Channel

  • Offline
  • Online

By Location

  • Deaddiction centres and Hospitals
  • Home

The Offline Segment Dominated the NRT Market In 2023 With A Revenue Share of Around 78%

The widespread availability of NRT products like transdermal patches, gels, gums, e-cigarettes, and heated tobacco products in retail chains such as Walgreens and Walmart Stores, Inc. contributes significantly to this segment’s dominance. Additionally, partnerships between hospitals and these retail chains further bolster market growth.

Based On Product Type, The Gums Segment Held The Largest Market Share Of 50% In 2023

Nicotine gum tackles the physical urge to smoke by providing a substitute for the repetitive hand-to-mouth motion and oral fixation smokers crave. This can be particularly helpful in breaking the habit. Moreover, nicotine gum offers gradual nicotine release, managing withdrawal symptoms effectively. Additionally, the availability of various flavors and nicotine strengths allows users to personalize their treatment and enhance compliance.

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The Asia Pacific Region Dominated the Global NRT Market In 2023 With A Revenue Share of Over 42%

This dominance can be attributed to the high demand for NRT products, the presence of a large population using tobacco, and rising competition among major tobacco companies, particularly in Japan. This intense competition fosters market dynamism and innovation in the region.

North America Holds a Significant Market Share and Is Expected to Witness Continued Growth

The high burden of smoking-related diseases, increasing government initiatives promoting smoking cessation, and growing adoption of e-cigarettes and heated tobacco products are key factors driving the North American market. Regulatory approvals for novel NRT products, such as the IQOS Tobacco Heating System by Philip Morris in the U.S., further contribute to market expansion.

Key Takeaways For Nicotine Replacement Therapy Market Report

  • Understand the rising demand for NRT fueled by factors like growing health concerns about smoking, technological advancements in NRT products, and government initiatives promoting smoking cessation.
  • Gain insights into the dominant offline segment and the most popular product type, nicotine gum, along with the reasons behind their success.
  • Identify key regional trends, with Asia Pacific leading the market and North America showcasing significant growth potential.
  • Explore the potential challenges and opportunities presented by the economic slowdown and the Russia-Ukraine conflict on the NRT market.

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