In terms of revenue, the Global Nicotine Gum Market is expected to reach USD 2.3 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 5% from 2023 to 2030.
Medical facilities and rehab centres in developed and emerging nations have significantly increased their demand for nicotine cessation solutions on the market. Since more people are becoming aware of the detrimental health effects of smoking cigarettes, this trend is being pushed by consumers preference for nicotine replacement therapies, such as gums and patches, to assist them in quitting. is a medication that can help people stop smoking, according to the Food and Drug Administration (FDA). To control increased cravings and avoid withdrawal symptoms, it is frequently used in conjunction with nicotine patches. Sales of products have increased as a result of the growth in people trying to stop smoking and growing knowledge of the health risks linked with smoking. Also, the large number of smoking-related fatalities has compelled manufacturers to create innovative products that lessen tobacco-related harm, which is fuelling market expansion.
Key Highlights from the Report
· Based on Distribution Channel, the Pharmacy segment dominates the Nicotine Gum market with the maximum market share and will continue to dominate in the forecast period.
· In terms of Region, North America holds the significant market share within the Nicotine Gum market and will continue to dominate during the forecast period.
is a medication that is administered every two hours to remove smoking cravings. Product demand is anticipated to increase as a result of increased R&D and product promotion by both government and non-government organisations. Also, manufacturers promote anti-smoking efforts and introduce cutting-edge goods like lozenges and gum to help people who have an urge for smoking stop. The increased prevalence of smoking-related diseases including lung cancer is also anticipated to increase product demand. These elements could spur market expansion for .
Rising urbanisation, product developments such as the introduction of , and substantial research and development activities are driving this industry. The use of smoking cessation products, such as and other nicotine replacement products, is encouraged by a number of government and non-governmental organisations (NGOs) in both developing and rising countries. This is done to help people quit smoking, especially young people. Many influential parties support anti-smoking initiatives and frequently introduce products to help people stop smoking, including gum, lozenges, and other goods. Using these items with successful cessation programmes increases residents chances of quitting smoking.
Increased attempts to quit smoking as a result of increased public knowledge of the health risks connected with smoking is the main driver fuelling the market's growth pace. Also, the market has seen a marked rise in demand from rehab centres and medical facilities around the world for nicotine cessation treatments in both developed and developing nations. The market is also primarily driven by the rising incidence of certain diseases like lung cancer, heart conditions, and respiratory issues. It actually results from rising tobacco usage in distinctive ways that put a significant strain on public safety around the world. These elements could stimulate the market for to increase.
The substances used to make have a few typical negative effects, such as elevated blood pressure, rapid heartbeat, drowsiness, irritability, lack of appetite, indigestion, heartburn, vomiting, and hiccups. Also, chewing it frequently and for a prolonged amount of time causes nausea and discomfort in the abdomen. Moreover, it contributes to certain people's indigestion and flatulence. As a result, during the anticipated period, these issues are anticipated to limit market expansion.
The Global Nicotine Gum Market is Segmented as follows
- Distribution Channel
- Convenience Stores
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Nicotine Gum Market is
Johnson & Johnson (U.S.), Novartis AG (Switzerland), ITC Limited (India), Cipla Health Limited (India), Perrigo Company PLC (Ireland), Teva Canada (Canada), Philip Morris (U.S.), British American Tobacco PLC (UK)
The Global Nicotine Gum Market Scope can be Tabulated as below
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|