The global nicotine replacement therapy market size was valued at USD 44.19 billion in 2020 and is estimated to expand at a CAGR of 16.1% during the forecast period, 2021–2028. The growth of the market is attributed to the rising number of people going for nicotine replacement therapy (NRT) and growing technological advancements.
Growing awareness about ill-effects of smoking is a key factor responsible for driving the market growth. Globally, the number of smokers is increasing tremendously, which exceeded 1 billion people. Owing to government initiatives such as the “affordable care act”, program for awareness about negative impact of smoking, and insurance policies, smokers are choosing smoking cessation therapies to quit the habit. In the US, in 2018, the number of smokers was around 34 million people and out of which 55% people have tried various smoking cessation methods.
No Tobacco Day is celebrated on 31st May every year. The American Lung Association and the Centers for Disease Control and Prevention (CDC) are the two key organizations working towards spreading awareness about serious medical conditions because of smoking. According to National Health Service (NHS), 70% of the lung cancer cases globally are responsible due to smoking. Moreover, smokers are expected to get heat attacks. In the US, around 480,000 people die every year due to diseases related to smoking. The CDC inducts paid national campaign named the Tips From Former Smokers (Tips) for encouraging healthcare providers to convey the effects of smoking to people.
Technological advancements led to increase in the number of people who switches to advanced therapy products. Advancements in heat-not-burn products such as lozenges and flavored chewing gums are projected to propel the adoption of NRT. The COVID-19 situation had effected moderately on the market. For privative measures, various health care organizations including WHO, CDC, and others have initiated programs encouraging smokers to quit smoking as tobacco smoking damages the lungs and make the person susceptible for COVID-19.
Market Segment Insights
Based on products, the nicotine replacement therapy market is segmented into nicotine replacement therapy, e-cigarettes, and heat-not-burn tobacco products. The nicotine replacement therapy segment is further divided into inhalers, sublingual tablets, gum, lozenges, transdermal patches, and others. The e-cigarettes segment accounted for a key market share, representing more than 50.2% in 2020 and anticipated to expand at a rapid pace in the coming years owing to increasing adoption rate and rising popularity in many countries. In the US, around 3% of adult smokers were using e-cigarettes in 2018. Based on a study in 2019 by Wiley Journal, around 17% of patients were able to quit smoking because of using combination of multiple NRT whereas 14.1% of patients were able to quit due to use of one type of NRT. This report further stated, products with higher nicotine concentration (4mg) were projected to give positive results than products with lower concentration (2mg) NATs.
On the other hand, the heat-not-burn tobacco products segment is anticipated to grow at a significant pace during the forecast period owing to growing product launches. The awareness about heat-not-burn tobacco products among smokers is high and around 25% smokers want to use the products. Currently, in the US, HnB products are used by approximately 0.8% of the adult population, which constitute 2.9% of smokers.
On the basis of distribution channels, the market is segmented into offline and online. The offline segment held for a major revenue share accounting for more than 83.4% of the global market share in 2020. The offline segment includes hospital pharmacy, retail pharmacy, and other stores. The accessibility of NRT products such as gels, e-cigarettes, transdermal patches, heated tobacco products, and gums in the retail market such as Walgreens and Walmart Stores, Inc., have boosted the segment growth. Additionally, emergence of tie-ups of hospitals with these retail stores are expected to propel the segment growth.
On the other hand, the online segment is anticipated to expand at a rapid pace during the forecast period due to multiple advantages such as flexibility, comfort, and convenience for buying medications and tobacco cessation products. Furthermore, heavy discounts offered by online pharmacies are anticipated to boost the segment growth.
On the basis of regions, the nicotine replacement therapy market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East Africa. The market of Asia Pacific held a large revenue share representing more than 40.1% of the global market in 2020 and is projected to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to increase in demand of NRT products, growing market opportunities, and rising competition among key players mainly in Japan.
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However, North America accounted for a significant market share in 2020 owing to increasing diseases related to smoking and rise in favorable initiatives by governments in the region. Moreover, rising adoption of e-cigarette and heat-not-burn tobacco products are anticipated to fuel the regional market growth.
Key Players Covered in the Report
Philip Morris Products S.A. (Altria Group), British American Tobacco p.l.c., Japan Tobacco, Inc., Imperial Brands, Glenmark, Fertin Pharma, Cipla Inc., Pfizer Inc., and Johnson Johnson Services, Inc.
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