Nicotine Replacement Therapy Market: Current Analysis and Forecast (2021-2027)

The nicotine replacement therapy market is expected to witness a CAGR of ~14% during the forecast period. Nicotine replacement therapy (NRT) is a method of assisting people in quitting smoking. Nicotine is delivered in small doses in the form of inhalers, lozenges, patches, sprays, or gum, while other toxins contained in tobacco cigarettes are avoided. In addition, NRT can help relieve some of the physical withdrawal symptoms so that you can focus on the psychological aspects of quitting. There are various alternative nicotine sources (gum, transdermal patch, nasal spray, inhaler, and sublingual tablets/lozenges) have been incorporated into tobacco cessation programs. Recent research is more focusing on rapid delivery of nicotine (Nicotine preloading, true pulmonary inhaler) and immunological approaches (nicotine vaccine) to tackle nicotine dependence. Furthermore, using smokeless tobacco can lead to nicotine addiction that contains 28 cancer-causing agents (carcinogens). It increases the risk of developing cancer of the oral cavity that is strongly associated with leukoplakia and recession of the gums.

Based on type, the nicotine replacement therapy market is segmented into gums, patches, lozenges, inhalers, and others. In 2020, The gums category is anticipated to witness a considerable growth rate over the forecast period. Nicotine gum is a form of therapeutic nicotine that are easily available without a prescription to help reduce the nicotine consumption that is received daily from cigarettes. Furthermore, in 2021, according to World Health Organization (WHO), more than 8 million people die prematurely due to tobacco use each year and more than 7 million of those deaths are the result of direct tobacco use.

Based on distribution channel, the nicotine replacement therapy market is categorized into online pharmacies and offline pharmacies. In 2020, the offline pharmacy category dominated the nicotine replacement therapy market and is expected to grow significantly in the upcoming years. The growth of this category is due to the rising number of patients in hospitals and smokers' preference to purchase NRT products from nearby retail stores. In addition, the rising prevalence of tobacco addiction among teenagers is fueling demand for NRT products, which will drive the nicotine replacement therapy market during the forecast period.

For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. The adoption rate of NRT products is expected to increase during the forecast period owing to a well-established healthcare infrastructure coupled with supportive government policies and rising awareness regarding the ill effects of tobacco consumption among the population. For instance, in U.S., an estimated 30.8 million adults in the U.S. currently smoke cigarettes. More than 16 million Americans live with a smoking-related disease. Moreover, according to the Centers for Disease Control and Prevention (CDC), Nearly 40 million U.S. adults still smoke cigarettes, and an estimated 2.55 million middle and high school students use at least one tobacco product, including e-cigarettes.

Some of the major companies operating in nicotine replacement therapy include Pfizer Inc., GlaxoSmithKline plc, Novartis AG, Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, AstraZeneca, Johnson & Johnson Private Limited, Merck & Co. Inc., Cipla Inc.