Global Smoking Cessation and Nicotine De-addiction Products Market: Forecast till 2024
Are E-cigarettes the E-asy Way Out of Smoking?
Cigarette packs have been mandatorily carrying a warning stating ‘Smoking is injurious to Health’, while some countries have resorted to even more graphic visuals of victims of smoking. However, this has done precious little to encourage smoking cessation. It is only through awareness created by NGOs and global healthcare organizations that we observe initiatives to stop smoking among the smoking population. Moreover, focus on introducing therapies for smoking cessation has led to development of various alternative therapies in the global smoking cessation and nicotine de-addiction products market. Nicotex, Nicogum, Smokefree, and KwikNic are some of the major nicotine replacement therapy (NRT) brands available in the smoking cessation and nicotine de-addiction products market. Nicotine addiction is in fact a major contributing factor for higher sales of cigarettes. Therefore, nicotine de-addiction products such as nicotine gums and patches are commercialized in the market.
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Nicotine replacement therapies (NRTs) were the first FDA approved products for smoking cessation treatment. Besides, Buproprion (Zyban) and Varenicline (Chantix) are the two non-nicotine FDA approved products intended for smoking cessation. Electronic nicotine delivery systems (ENDS) are other emerging products aiding in nicotine de-addiction. E-cigarettes can be nicotine-based on non-nicotine based.
The global smoking cessation and nicotine de-addiction products market was valued at US$ 11,285.7 million in 2015 and is expected to witness a moderate CAGR of 17.3% during the forecast period (2016 – 2024).
E-cigarettes: An emerging segment in the smoking cessation and nicotine de-addiction products market
E-cigarette is an electronic nicotine delivery system (ENDS) that is regulated by FDA. E-cigarettes are effective in reducing tobacco related health conditions, while NRTs 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. Companies such as BAT, Lorillard, Japan Tobacco International, and Philip Morris International (PMI) collaborated with/acquired smaller firms who developed e-cigarettes. This provides major companies in the cigarettes market to compensate for their on-going downward sales of cigarettes. This would give a major boost to the overall smoking cessation and nicotine de-addiction products market. Furthermore, the consideration that e-cigarettes are less harmful than 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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High smoking rates and nicotine addiction
According to the World Health Organization (WHO), tobacco results in one premature death every six seconds globally. Moreover, in 2015, over 1.1 billion people smoked tobacco globally, with the rate increasing in Africa and Mediterranean Region. Also, tobacco smoking prevalence is the highest in Asia. Therefore, this could be a potential market for the manufacturers in the global smoking cessation and nicotine de-addiction products market. Nicotine being a major addictive component, is harmful to active and passive smokers. Furthermore, concerns regarding the uptake of e-cigarettes by non-smokers considering it as safe for smoking is deterring growth of e-cigarettes in unregulated markets such as India.
Creating awareness about health impacts related to smoking to aid the growth of smoking cessation and nicotine de-addiction products market
Around 7 out of 10 of smokers in the U.S. reported the desire to quit smoking in 2015, as per results of a study by the Centers for Disease Control and Prevention (CDC). However, lack of motivation, support, and also proper therapy guidance is hindering uptake of smoking cessation and nicotine de-addiction products. Furthermore, use of e-cigarettes in unregulated markets such as India and Africa is under surveillance by regulatory authorities. The WHO has expressed concern over the sale of e-cigarettes in India openly through online marketplace and has advised companies to include health warnings when marketing the product, unless substantial evidences confirming its safety are found.
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