Nicotine Replacement Therapy Market annual growth is xx percent

Nicotine Replacement Therapy Market Size and Growth Rate:

Nicotine Replacement Therapy Market size was valued USD xx.xx Million in 2018, it is expected to reach USD xx.xx Million by the end of 2026, with increasing at a CAGR of xx.x% during the forecast period 2019-2026.

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Nicotine Replacement Therapy Market Overview:

Nicotine replacement therapy market is esteemed to have highest revenue shares in the forecast period. This therapy helps to quit smoking or stop chewing tobacco by medically approved way of taking nicotine by means other than tobacco. About 70% of the people had successful results in quitting smoking. Nose spray, inhaler, chewing gum and adhesive patch include in the therapy to quit smoking. Of course, there are some side effects in nicotine replacement therapy like skin irritation and dry mouth but these are controlled by effective formulation of therapy. Pregnancy women should not take this therapy as it may affect the growth of the baby. The therapy results may last up to 6 months and the person may completely quit smoking in this period. The individuals with cardiovascular disease is not prescribed to go for nicotine replacement therapy.

Nicotine Replacement Therapy Market Growth Drivers and Restraints:

Change in lifestyle and growing population addicted to smoking are the main driving factors for the market to grow extensively. The growing awareness towards the therapy in urbanized areas is propelling the demand of nicotine replacement therapy market. The growth in chronic diseases such as lung cancer is also additionally gearing up the growth of the market.

However, the cost for treatment is bit expensive, which cannot be affordable by common people is slightly declining the growth of the market. The side effects with this therapy are also a drawback for the demand of the market.

The growing number of people to quit smoking with rise in health consciousness is certainly creating chances for the market. The rise in anti-smoking campaigns even in rural areas to raise awareness among the people is surging the growth opportunities for the market.

Geographical Analysis of Nicotine Replacement Therapy Market:

On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, and Middle East and Africa. Asia Pacific is accounted to have largest revenue shares of the market owing to increased adoption of advanced technology in the treatment procedures and raise in support from government. Following Asia Pacific, North America is holding the important part of the market with the increased anti-smoking campaigns and rise in interest to quit smoking by majority people. Europe is anticipated to hold the dominant shares with the growth in the health related complications due to smoking.

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Key Players of Nicotine Replacement Therapy Market:

The major players in the nicotine replacement therapy market are Cipla Ltd., Pfizer, Inc., GlaxoSmithKline plc, Novartis International AG, McNeil AB, Takeda pharmaceutical Company Ltd., Imperial Tobacco Ltd., Revolymer plc, and VMR products, LLC.

Nicotine Replacement Therapy Market Segmentation:

By Product Type:

·         Nicotine-containing gums

·         Patches

·         Lozenges

·         Sublingual tablets

·         Inhalers and oral aerosols

By Distribution Channel:

·         Hospital Pharmacy

·         Retail Pharmacy

·         Online Pharmacy

By Region:

·         North America

·         South America

·         Europe

·         Asia Pacific

·         Middle East and Africa

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