Nicotine Gum Market to Witness Formidable Growth in Coming Years
Surge in health awareness
and increasing demand for nicotine gum from medical institutions to drive
global nicotine gum market
According
to TechSci Research report, “Global
Nicotine
Gum Market By Dosage (2-mg nicotine, 4-mg nicotine, 6- mg nicotine,
Others), By Application (Withdrawal Clinics, Medical Practice, Individual
Smokers, Others), By Distribution Channel (Hypermarkets & Supermarkets,
Specialty Stores, Convenience Stores/Tobacco Stores, Online, Others), By
Region, Forecast & Opportunities, 2025”, the global nicotine gum market is expected to witness
substantial rate of growth during the forecast period as well. The major factors
behind the growth of nicotine gum market include growing awareness of the
health hazards associated with smoking and an increasing number of people
trying to quit smoking actively. Apart from that, various campaigns conducted
by governments and organizations to fuel the awareness about the harmful
effects of tobacco, is also leading to the increase in number of people trying
to quit smoking, thereby pushing demand for nicotine gum.
Additionally, rise in demand for Nicotine Replacement
Therapy (NRT) and its products, are some key factors which are expected to
drive the growth of nicotine gum market in the coming years. Furthermore, increase
in demand for nicotine gum from medical institutions and rehab clinics for the
purpose of nicotine cessation is also driving the market growth. Higher production
and availability of nicotine gum globally is also supporting the growth of this
market. To attract potential customers, manufacturers are coming up with new
and innovative products such as flavored nicotine gums. However, there are
certain issues being faced by nicotine gum market. The availability of many
substitute products such as nicotine patches, nicotine snus, nasal sprays,
inhalers, and lozenges might create hindrance for the growth in nicotine gum market.
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The global
nicotine gum market is segmented based on dosage, application, distribution
channel and region. Based on application, the global nicotine market is
segmented into withdrawal clinics, medical practice, individual smokers and others.
Rise in the number of people trying to quit smoking voluntarily has made
individual smokers largest users of nicotine gum.
Based
on dosage, the global nicotine gum market is segmented into 2-mg nicotine, 4-mg
nicotine, 6- mg nicotine and others. The 2
mg segment of nicotine gum is expected to grow at the fastest rate during the
forecast period as they are targeted for those who smoke fewer than 25
cigarettes a day. New product launches and the introduction of new flavors is
further propelling the demand for 2-mg nicotine gums.
Based
on region, North America leads the share in terms of revenue over the last few
years as the region is witnessing a considerable increase in the number of
people who are opting to quit smoking. The governments are also focusing on
encouraging people to quit smoking through several anti-smoking campaigns in
the region.
Major players operating in the global nicotine
gum market include Novartis AG, Johnson & Johnson, ITC Limited, GlaxoSmithKline
plc, British American Tobacco, Perrigo Company plc, Reynolds American Inc, Cipla
Inc., TRUMAC HEALTHCARE, Alkalon A/S, Alchem International Pvt. Ltd., ENORAMA
PHARMA AB and Fertin Pharma. The market players are focusing on new product
launches and mergers & acquisitions to make a strong grip in the global
nicotine gum market.
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“Nicotine
gum market is getting a major boost from various initiatives and programs being
run by the governments across the globe, which focus on encouraging people to quit
smoking. Nicotine gums come in handy to the user as they are easily available
and can be taken anytime during the day. The future of nicotine gum market
seems bright with more people getting aware of the harmful effects of
cigarettes. The main objective of nicotine gum manufacturers is achieving
reduction in cigarette consumption by offering various product forms, flavors,
and packaging styles,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Nicotine Gum
Market By Dosage (2-mg nicotine, 4-mg nicotine, 6- mg nicotine, Others), By
Application (Withdrawal Clinics, Medical Practice, Individual Smokers, Others),
By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores,
Convenience Stores/Tobacco Stores, Online, Others), By Region, Forecast &
Opportunities, 2025” has
evaluated the future growth potential of global nicotine gum market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global nicotine gum market.
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