Smoking Cessation Market Trends, Size, Share, Growth and Demand Forecast to 2020 by P&S Market Research

The global smoking cessation market is growing due to growing awareness about health problems associated with smoking and growing acceptance rate of smoking cessation products. On the basis of products, the electronic cigarette segment is expected to grow with the fastest rate during the forecasted period. Nicotine gums led the nicotine replacement therapy market; however, the nicotine lozenges are expected to grow with the fastest rate during the projected period. The innovation of products with better efficacy is also expected to pose as an opportunity for growth of the market. The massive unexplored market of smoking cessation industry in the developing economies is creating abundant growth opportunities for the global market.

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Some of the major trends in the market are increasing number of collaborations and partnerships, growing number of merger and acquisitions, and growing number of product launches. Tobacco addition can lead to various serious health problems. Smoking cessation is the process of discontinuing tobacco smoking and it helps to reduce the risk of smoking related diseases. Nicotine withdrawal symptoms may include feeling hungrier than usual, having trouble thinking, craving for tobacco products, and feeling irritable, anxious and angry. According to the Centre for Disease Control and Prevention in 2010, approximately 7 out of every 10 adult cigarette smokers wanted to quit smoking completely.

Some of the factors driving the growth of the global smoking cessation market are increasing number of smokers, stringent laws for smoking such as ban on smoking in public place, increasing government initiatives by distribution of smoking cessation products and higher taxes on tobacco products. In addition, the increasing initiatives to create awareness about smoking health hazards, increasing incidence of lung cancer and other diseases such as cardiac diseases and respiratory disorders due to smoking, and increasing research and development for innovation of smoking cessation products are also fueling the growth of the global market. However, the reluctance in adoption of smoking cessation products, strict regulatory requirements for electronic cigarette as medical device, restrictions and bans on the usage of electronic cigrrate, and lack of awareness of nicotine de-addiction products are some of the factors restraining the growth of the global market.

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Some of the companies operating in the global smoking cessation market are Johnson & Johnson Limited, GlaxoSmithKline PLC, Sanofi, Pfizer, Actavis Inc., Imperial Tobacco Company of India Limited, Cipla Ltd., Takeda Pharmaceuticals Co. Ltd., Imperial Tobacco Company, Revolymer Limited, McNeil AB, Boehringer Ingelheim Gmbh, Sun Pharmaceutical Industries Inc., and Novartis Inernational Inc.

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