Smoking Cessation Aids Market to exceed US$ 64,032.30 million by 2028 - COVID-19 Impact and Global Analysis by The Insight Partners

NEW YORK, Aug. 19, 2021 /PRNewswire/ -- According to our new research study on "Smoking Cessation Aids Market Forecast to 2028 – by Product, End User, and Geography," the Smoking Cessation Aids Market is projected to reach US$ 64,032.30 million in 2028 from US$ 23,413.08 million in 2021; it is expected to grow at a CAGR of 15.5% during 2021–2028. The growth of the market is attributed to rising addiction toward tobacco smoking, increasing number of campaigns to reduce smoking and tobacco dependence are driving the market growth.

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In 2020, North America dominated the global Smoking Cessation Aids Market. The market growth in the region is increasing number of campaigns to reduce smoking and tobacco dependence and increasing awareness are driving the market growth. The government and nongovernment organizations worldwide are coming forward and launching campaigns to provide awareness and undertake measures to curb the diseases caused due to smoking and tobacco consumption. The measures are taken to reduce the economic and health burden caused due to cigarette smoking in countries worldwide. For instance, every year on May 31st, the WHO along with its global partners celebrate World No Tobacco Day (WNTD) to spread education and awareness regarding the harmful and deadly effects of tobacco and second-hand smoke exposure. Initiatives undertaken on this day mainly aim to discourage the consumption of tobacco in any form and educate people regarding the availability of aids that assist in smoking cessation.

The launch of anti-smoking campaigns is organized on global, national, and regional levels worldwide. For instance, in December 2020, the WHO introduced "Commit to Quit" year-long campaign, which helped about 100 million people worldwide to quit the tobacco consumption. Furthermore, in July 2018, the Ministry of Health (MoH) India launched "What Damage Will This Cigarette/Bidi Do" smoking cessation campaign, wherein the Public Service Announcement (PSA) prompts smokers to think about tobacco smoking as a potential path to harmful events such as heart attack, chronic lung disease, cancer, and death.

Governments of various countries have increased excise duties and taxes on tobacco-based cigarettes and cigars to reduce its affordability and thus consumption among common populace. In addition, numerous governments have legalized the use of e-cigarettes as a smoking cessation aids under licensed sales channels to prevent people from opting conventional cigarettes. For instance, the sale of e-cigarettes is allowed in Brazil only under a license from the national health surveillance agency as smoking cessation devices.

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Thus, increasing efforts undertaken by governments as well as nonprofit and nongovernment organizations to promote the use of smoking cessation aids and reduce the number of smoking populations boost the growth of the market.

Based on product, the Smoking Cessation Aids Market is segmented into nicotine replacement therapy, drugs, electronic cigarettes, and others. In 2021, the electronic cigarettes segment held the largest share of the market, by product. The electronic cigarettes segment of Smoking Cessation Aids Market is also expected to witness fastest CAGR during 2021 to 2028. Based on end-user, the Smoking Cessation Aids Market is segmented into hospital pharmacies, online channel, retail pharmacies, and other end users. In 2021, the retail pharmacies segment held the largest share of the market, by end user. Whereas the online channel segment is expected to grow at the fastest CAGR during the coming years.

Increasing Awareness Activities and Campaigns to Reduce Tobacco Usage and Dependence

The government and nongovernment organizations worldwide are coming forward and launching campaigns to provide awareness and undertake measures to curb the diseases caused due to smoking and tobacco consumption. The measures are taken to reduce the economic and health burden caused due to cigarette smoking in countries worldwide. For instance, every year on May 31st, the WHO along with its global partners celebrate World No Tobacco Day (WNTD) to spread education and awareness regarding the harmful and deadly effects of tobacco and second-hand smoke exposure. Initiatives undertaken on this day mainly aim to discourage the consumption of tobacco in any form and educate people regarding the availability of aids that assist in smoking cessation.

The launch of anti-smoking campaigns is organized on global, national, and regional levels worldwide. For instance, in December 2020, the WHO introduced "Commit to Quit" year-long campaign, which helped about 100 million people worldwide to quit the tobacco consumption. Furthermore, in July 2018, the Ministry of Health (MoH) India launched "What Damage Will This Cigarette/Bidi Do" smoking cessation campaign, wherein the Public Service Announcement (PSA) prompts smokers to think about tobacco smoking as a potential path to harmful events such as heart attack, chronic lung disease, cancer, and death.

Governments of various countries have increased excise duties and taxes on tobacco-based cigarettes and cigars to reduce its affordability and thus consumption among common populace. In addition, numerous governments have legalized the use of e-cigarettes as a smoking cessation aids under licensed sales channels to prevent people from opting conventional cigarettes. For instance, the sale of e-cigarettes is allowed in Brazil only under a license from the national health surveillance agency as smoking cessation devices.

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Thus, increasing efforts undertaken by governments as well as nonprofit and nongovernment organizations to promote the use of smoking cessation aids and reduce the number of smoking populations boost the growth of the market.

Smoking Cessation Aids Market: Segmental Overview

Based on end user, Smoking Cessation Aids Market is segmented into hospital pharmacies, online channel, retail pharmacies, and other end users. In 2021, the retail pharmacies segment held the largest share of the market, whereas the online channel segment is expected to grow at the fastest CAGR during the coming years.

Smoking Cessation Aids Market: Competitive Landscape and Key Developments

Pfizer Inc.; GlaxoSmithKline plc.; Dr. Reddy's Laboratories; Johnson and Johnson Services, Inc.; Cipla Inc.; Perrigo Company plc; Bausch Health Companies Inc.; Glenmark; NJOY; and Juul Labs among others are among the key companies operating in the Smoking Cessation Aids Market. Leading players are focusing on the new product launch, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

In July 2020, Dr Reddy's Laboratories launched of over-the-counter Nicotine Polacrilex lozenges in the American market in the strengths of 2 mg and 4 mg..

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In September 2019, An independent expert panel to the U.S. Food and Drug Administration recommended approval of GlaxoSmithKline Plc's over-the-counter nicotine oral spray which aims to help smokers quit their addiction.

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