Global e-cigarettes market valued at US$1.66B in 2012, expected to grow at CAGR of 33% from 2013-2019, reaching estimated value of US$12.24B in 2019, according to new report
June 4, 2014
– Research and Markets has announced the addition of the "Smoking Cessation and Nicotine De-addiction Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" report to their offering.
The electronic cigarettes market was valued at USD 1,662.5 million in 2012 and is expected to grow at a CAGR of 33% from 2013 to 2019, to reach an estimated value of USD 12,238.4 million in 2019.
Key players in the e-cigarettes market include VMR Products LLC, NJOY, Lorillard, Inc., Nicoventures and Altria Group.
Electronic cigarettes is the largest and the fastest growing segment in the smoking cessation market. More than 80% of the e-cigarette market share lies with Europe and North America. Regulation of e-cigarettes as medical devices or tobacco products are still in debate. Lobbyists across the globe are trying to influence regulatory agencies to ease restrictions on e-cigarettes. Although this has not yet affected market growth, restrictions and bans on the use of e-cigarettes may adversely affect market growth in the near future.
Smoking cessation products are a better alternative for tobacco and cigarette addicts. Smoking cessation products market comprises nicotine replacement therapy (NRT) products, prescription drugs and electronic cigarettes. With the rising incidences of lung cancer, and other diseases such as respiratory and cardiac disorders due to smoking, governments of various countries have started taking initiatives for controlling cigarette addiction.
The U.S. Centers for Disease Control and Prevention (CDC) stated that 2011 witnessed around 44 million adults addicted to cigarette smoking in the U.S.,with majority being from the low-income class. Higher taxes on tobacco products, ban on smoking in public places, benefits and assistance for smoking cessation therapies were some of the important policies implemented in order to motivate addicts to quit smoking.
Nicotine replacement therapy (NRT) products comprise nicotine gums, patches, lozenges, sprays, inhalers and sublingual tablets. All these products are available over-the-counter, except for Nicotrol nicotine inhalers and nasal sprays which are sold only with prescription. The regulations on sales of NRT products differ from country to country. Nicotine gums are the oldest products in the market and cover around 38% share of the total NRT market. The market for nicotine lozenges is expected to grow at a faster rate owing to convenient use, low cost and easy availability. Nicotine transdermal patches are the second most widely used NRT products for smoking cessation.
Major players in the NRT market include GlaxoSmithKline, Novartis and Johnson & Johnson. First line drug therapy for smoking cessation includes Zyban by GlaxoSmithKline, and Chantix (Champix in countries other than the U.S.) by Pfizer. The drug therapy market has suffered from consistent criticism, as suicidal attempts were reported by patients prescribed with either of these drugs. For the same reason, sales of these drugs has been witnessing decline for the past few years.
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Executive Summary
Chapter 3 Global Smoking Cessation and Nicotine De-addiction Market Overview
Chapter 4 Global Smoking Cessation and Nicotine De-addiction Products Market, by Product Type
Chapter 5 Global Smoking Cessation and Nicotine De-addiction Products Market, by Geography
Chapter 6 Competitive Landscape
Chapter 7 Recommendations
Chapter 8 Company Profiles
Imperial Tobacco Company of India (ITC Ltd).
Novartis International AG
Takeda Pharmaceutical Co. Ltd.
VMR Products LLC
For more information visit http://www.researchandmarkets.com/research/kzf9bv/smoking_cessation
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