Market Analysis with Latest Growth Factors:
The Tobacco Control Program at the Ministry of Health and Secretary of the Anti-Tobacco National Committee in tandem with the Ministry of Education and Municipality officials are resulting in the development of awareness campaigns in order to warn about the perils of smoking and banning all stores from marketing and selling tobacco products to people below 18 years. The overall market growth of the nicotine based products market segment will be driven by the presence of nicotine based products especially nicotine gums in the market during the forecast period.
China ranks among the top of the list of countries that essays out stringent laws and rules against smoking. As per the draft bill, smoking is forbidden in all indoor public places in China such as workplaces as well as public transport. The various outdoor restricted areas comprises of areas in direct contact with or in schools, historic sites, day care centers, children’s hospitals and stadiums. Such rigid laws are forcing the people in China to drift towards nicotine based products and this is eventually casting a positive influence on the segment.
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In the global Smoking Cessation and Nicotine De-Addiction products market, nicotine based products and e-cigarettes are expected to be the most attractive market segment among all product type segments. The non-nicotine based products segment is anticipated to be the least attractive product type market segment. The nicotine based products market segment is leading in the North America Smoking Cessation and Nicotine De-Addiction products market and is anticipated to be the most attractive market segment.
One of the major causes of lung cancer is cigarette smoking and it also causes other respiratory and cardiac disorders. An increasing awareness pertaining to these health hazards has inclined individuals to adopt smoking cessation therapy. There has been a rise in awareness with the help of newspapers television advertisements, information brochures, as well as other media has proven to be highly effective in restricting the nicotine addiction crisis to some extent. All of these factors are propelling the nicotine based products segment market growth.
The introduction of novel products is another factor fueling the growth of nicotine based products segment. Some of the other innovative players in the market are concentrating on the introduction of novel treatment substitutes such as selective partial agonists of nicotinic receptors (varenicline) and Tabex (Cytisine-plant-based alkyloid). Large numbers of clinical trials have been carried out in the specific population, such as adolescents and pregnant women in order to measure the safety as well as efficacy of these products.
The implementation of GCC Standardization Organization (GSO) in Middle East and African region has incorporated an anti-tobacco law that mandates the sticking of warning labels on tobacco products. It comprises of a picture-based health warning that encompasses half of a package front and back, with an Arabic warning encased on the front and an English warning on the back.
The Latin America nicotine based products market is conquered by the U.S. and Europe based manufacturers with the help of distributors. Majority of the European organizations such as Perrigo Company plc and Fertin Pharm are exporting their products to the Latin American region in order to enlarge their geographical reach and attain major market share.
Additionally, the market availability of OTC products through online channels is aiding the European and U.S. based manufacturers to distribute their products in an easy manner. The Asia Pacific Smoking Cessation and Nicotine De-Addiction products market is anticipating major growth owing to swelling business expansion of established companies in economies like India and Japan. Moreover, the Chinese economy is a major manufacturing hub of e-cigarettes and the region is dominated by various Chinese players and associated suppliers.
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Major Key Players:
The Indian nicotine gum market is highly commanded by organizations such as ITC, Cipla Ltd., GlaxoSmithKline plc and Dr. Reddy’s Laboratory (Novartis).
Major Points from Table of content:
- Executive Summary
- Research Methodology
- Market Dynamics
- Industry Overview
- Global Smoking Cessation and Nicotine De-Addiction Products Market, By Product (2017-2025)
- Global Smoking Cessation and Nicotine De-Addiction Products Market, By Regions (2017-2025)
- Market Competition Analysis
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