Smoking Cessation and Nicotine De-addiction Products Market, By Route of Administration (Oral, Transdermal, Nasal , Sublingual), By Product (Nicotine Replacement Therapy, Nicotine Spray, Nicotine Inhalers, Nicotine Gum, Nicotine Transdermal Patches, Nicotine Sublingual Tablets, Nicotine Lozenges, Drug Therapy, Varenicline, Zyban, Nicorette Buccal, E-cigarettes/E-liquid), By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024

Code : CMI134

Pages :358

Formats :

Excel and PDF

Industry : Pharmaceutical

Market Challenges: Low success rate of products

The low success rate of smoking cessation products is a major challenge restraining the growth of the global smoking cessation and nicotine de-addiction market. Currently, most smoking cessation products and therapies have very limited efficacy, with success rates of only 20-30% on average. This means the majority of people are unable to quit smoking even after trying approved therapies and products. The low success rates undermine users' confidence in these solutions and discourage many smokers from even attempting to quit. As a result, smokers remain hesitant to invest time and money into products and programs that have a high likelihood of failing. This significantly reduces the overall demand for smoking cessation offerings. Additionally, the recurring nature of relapses also diminishes repurchase rates for replacement therapies and nicotine gums/patches, limiting revenue opportunities for market players. An added concern is that the few products showing some efficacy, such as varenicline (Chantix) and combination nicotine replacement therapies, involve high costs that many smokers are reluctant or unable to afford. This cost hurdle further exacerbates accessibility and compliance issues. For example, according to 2020 data from the CDC, almost 70% of U.S. adult smokers tried to quit in the past year, but only 55% of those tried to use counseling and/or medication due to concerns over costs. The lack of affordable and effective smoking cessation options continues to enable the prevalence of smoking worldwide.

Market Opportunities: Development of new technologies and products

The development of new technologies and products present a great opportunity for innovation in the global smoking cessation and nicotine de-addiction market. As smokers increasingly seek less harmful alternatives to traditional cigarettes, technological advancements are enabling novel solutions aimed at reducing tobacco-related harm. For instance, heated tobacco products such as IQOS devices that heat but do not burn tobacco, allowing for inhalation of nicotine vapors without smoke. While still containing nicotine, early research suggests these heated tobacco products expose users to significantly lower levels of harmful chemicals compared to cigarette smoke. Such reduced risk products, if backed by robust scientific evidence, have the potential to meaningfully impact public health by providing smokers an alternative way to satisfy their nicotine craving with less risk. Similarly, the e-cigarette category continues to rapidly evolve. New generations of e-cigarettes are improving nicotine delivery capabilities to better mimic the feel of smoking, which helps increase their effectiveness as smoking cessation aids. Product developments like pod-based e-cigarettes with pre-filled nicotine cartridges have made these devices even more convenient and easier for smokers to use. This increased user-friendliness expands the addressable market size. The latest e-liquids are also being formulated with novel nicotine salts to provide a smoother vaping experience. More effective nicotine delivery from such innovations could increase the success rate of quit attempts.