Smoking Cessation Products Market to Discern Steadfast Expansion

Posted by Arslan on March 18th, 2019

Fact.MR recently published a report “Smoking Cessation Products Market - Global Industry Analysis 2013-2018 and Forecast, 2018-2026” to provide detailed information on important market dynamics that explains the growth prospects of the smoking cessation products market. The values provided in the research report are derived from an extensive research on the smoking cessation products market, which can help stakeholders to adopt accurate business strategies in the coming future. Market dynamics including growth opportunities for market participants are also mentioned in the report on the smoking cessation products market.

Growing Prevalence of Chronic Obstructive Pulmonary Disease (COPD) Drives Demand for Smoking Cessation Products

A prevalence of around 251 million patients with COPD was report across the globe in 2016 by a WHO report, and it will become the third leading cause of death by 2030. As smoking tobacco is the primary cause of COPD, manufacturers in the smoking cessation products market are promoting the use of various types of smoking cessation products to prevent it.

Additionally, consumers are becoming aware that there is no cure for the life-threatening disease, thereby, the growing needs for preventing COPD is boosting adoption of smoking cessation products. Offering personalized smoking cessation products to facilitate COPD management for patients can help smoking cessation products market players to improve sales and gain an edge in the smoking cessation products market in coming years.

Stringent Smoke-free Air Laws Trigger Adoption of Smoking Cessation Products

Smoke-free air laws imposed by various national and international governmental organizations across various countries hold a major share in the growth of the smoking cessation products market. Smoke-free laws mainly aim at protecting consumers from secondhand smoking and restrict minors’ exposure to tobacco-smoking products.

The New Zealand government has developed ‘Smoke-free Environments Regulations 2007’, which imposed labeling requirements on all tobacco products to discourage smoking. Washington, DC, the U.S. capital, has imposed ‘The Department of Health Functions Clarification Amendment Act of 2006’ that bans smoking in most public places.

Growth prospects of the smoking cessation products market are moderately attributed to smoke-free air laws, as these laws limit promotion and advertising of tobacco products and indirectly encourage consumers to quit smoking. Stringent regulations and laws that discourage smoking may exhort the smoker population to turn to smoking cessation products, which may complement growth of the smoking cessation products market in the upcoming years.

Potential Risks and Side Effects may Drive Consumers Away from Smoking Cessation Products

Though most smoking cessation products can reduce withdrawal symptoms and help consumers to quit smoking tobacco with ease, they come with certain side effects leading to causing discomfort in consumers. The use of smoking cessation products, such as patches and nasal sprays, can cause irritation of nose, skin, eyes, or throat, along with causing some behavioral changes in consumers.

Also, insomnia and diarrhea are among the most common side effects of non-nicotine smoking cessation products, such as varenicline. FDA released a safety announcement to warn consumers about serious mental health side effects of smoking cessation products, including varenicline and bupropion. Growing consumer awareness about the potential risks of using smoking cessation products may hamper growth of the smoking cessation products market.

Alarming Rise in the Number of Tobacco-related Deaths Create Needs for Smoking Cessation Products

According to a report published by the World Health Organization (WHO), the number of deaths due to tobacco smoking, each year, has surpassed 7 million, making it one of the leading causes of deaths in the world. The report further reveals that there are over 1.1 billion tobacco smokers in the world and, assuming the constant prevalence, the number will reach around 1.8 billion, causing 10 million deaths due to tobacco smoking, by 2030.

Growing awareness about the health hazards of tobacco smoking is exhorting consumers, especially pregnant and lactating women, to start using smoking cessation products to quit smoking. As smoking cessation products can help tobacco smokers to keep away from the urge to smoke and reduce the incidences of tobacco-related illnesses, a majority of smokers are banking on smoking cessation products to quit smoking. This is likely to boost growth of the smoking cessation products market in the foreseeable future.

Competitive Landscape:

The Fact.MR report on smoking cessation products market enlists leading stakeholders in the market to provide insightful information about recent developments in the winning strategies of leading competitors in the smoking cessation products market. This chapter features comprehensive information, including intensity mapping, key financials, market share analysis, key developments, SWOT analysis, SIC, NACE, & NIACS codes, and global manufacturing facilities, about the each smoking cessation products market player mentioned above. The report provides detailed information about the leading market players including Johnson & Johnson Inc., GlaxoSmithKline plc, Pfizer, Inc, Perrigo Company plc, Cipla Ltd., ITC Limited, Reynolds American Inc., Imperial tobacco ltd., Fertin Pharma, and Alkalon A/S.

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