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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