Smoking Cessation Aids Market – Growth, Trends, And Forecast (2019 – 2024)
The Smoking Cessation Aids Market covers important aspects of this market concerning fundamental parameters. The report explains outline of the business range, concentrating on the overall industry, development possibilities, types and application. It brief Smoking Cessation Aids summary of the market considering the current and future scenarios. It also provides information in terms of development and its capacities.
The global Smoking Cessation Aids market is expected to witness a CAGR of 6.0%.
The market players in the global Smoking Cessation Aids market involves various growth strategies such as collaborations, partnerships, agreements, mergers and acquisitions in order to enhance the market presence. For instance, in February 2019, Antidote Therapeutics Announces Collaboration with the National Cancer Institute to Develop ATI-1013, a Novel Nicotine-Binding Antibody, for reducing Lung Cancer in High-Risk Smokers. Furthermore, the introduction of new products, collaborations with government and NGO’s to create awareness of smoking cessation also boosts the market growth. For instance, in October 2018, Philip Morris has launched a campaign encouraging people to stop smoking, with ads in several UK newspapers. In January 2015, in Germany McNeil launched QuickMist, a fast-acting nicotine spray that replaces tobacco and supports the victim.
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Scope of the Report
Tobacco use can lead to tobacco/nicotine dependence and serious health problems. Quitting smoking greatly reduces the risk of developing smoking-related diseases. Tobacco/nicotine dependence is a condition that often requires repeated treatments, but there are helpful treatments and resources for quitting. Tobacco smoke contains a deadly mix of more than 7,000 chemicals; hundreds are harmful, and about 70 can cause cancer. Smoking increases the risk of serious health problems, many diseases, and death. People who stop smoking greatly reduce their risk of disease and early death.
Key Market Trends
E-cigarettes Technology Expected to Lead the Market
The smoking cessation aids market is segmented have been segmented Products, End User and Geography. Product segment is further segmented into Nicotine Replacement Therapy, Drugs and electronic cigarettes.
E-cigarettes are an effective alternative for reducing health conditions associated with tobacco, while nicotine replacement therapies work best for smoking cessation. E-cigarettes are a potential threat to tobacco-based cigarettes. At the same time, an opportunity for tobacco manufacturers to enter the new emerging segment catering to the smoking population. consumption of e-cigarettes are less harmful compared to the regular cigarettes, no smoke and thus no risk of passive smoking, allowed to use even in no-smoking places, varying nicotine levels and availability in various flavors are some of the major driving factors for e-cigarettes market.
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Asia-Pacific Expected to Show Fastest Growth over the Forecast Period
Asia-Pacific is expected to be the fastest growing region for the market, due to increasing awareness about the smoking cessation and nicotine de-addiction products and a huge population base in the area. In a study called Tobacco Smoking and Mortality in Asia published by JAMA Network March 2019, A Pooled Meta-analysis, an international collaboration of researchers, led by those from Vanderbilt University, USA, have studied the trends in tobacco use in China, Japan, South Korea, Singapore, Taiwan, and India. It was estimated that 8.3 million deaths will be attributed to smoking by 2030, half of the world’s male smokers live in China, India, and Indonesia and Asia is the world’s largest tobacco consumer and producer.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Smoking Cessation Aids Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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