Nicotine Gum Market to Worth USD 2.17 Billion by 2030 | Skyquest Technology
Nicotine gum market is segmented based on the type and distribution channel. Based on type, the global market is segmented into 2 mg, 4 mg, and 6 mg. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, pharmacies, and online stores- Industry forecast 2023-2030
Westford, USA, Aug. 03, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the nicotine gum market is experiencing a significant push due to the rising prevalence of diseases such as lung cancer, heart disease, and respiratory problems, primarily attributed to the escalating use of tobacco products. The detrimental impact of tobacco consumption on public health has become a significant concern for global safety, prompting individuals to seek alternative methods to quit smoking or reduce their tobacco intake.
*Browse in-depth TOC on the "Nicotine Gum Market" *
· Pages - 157
· Tables - 64
· Figures – 75
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Common adverse reactions associated with its usage include high blood pressure, rapid heart rate, dizziness, insomnia, irritability, loss of appetite, indigestion, heartburn, vomiting, and hiccups in the nicotine gum market. Prolonged and frequent chewing of nicotine gum can lead to additional discomforts, such as nausea and abdominal distress. These side effects can deter some potential users from adopting nicotine gum to quit smoking or reduce tobacco consumption.
*Report Scope & Segmentation: *
*Attributes* *Details*
Market Size in 2022 USD 1.56 Billion
2030 Value Projection USD 2.17 Billion
CAGR 4.8%
Forecast Period 2023-2030
Segments Covered · Type
· Distribution Channel
Regions Covered · North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
*Prominent Players in the Nicotine Gum Market*
· GlaxoSmithKline
· Johnson & Johnson
· Perrigo Company plc
· Pfizer Inc.
· Novartis AG
· Revolymer PLC
· Cambrex Corporation
· Fertin Pharma A/S
· Alchem International Ltd.
· Dr. Reddy's Laboratories Ltd.
· ConfiDent AB
· MCNEIL-PPC, Inc.
· Tendex Holdings Limited
· Parnell Pharmaceuticals Inc.
· Takeda Pharmaceutical Company Limited
· LEO Pharma A/S
· Sun Pharmaceutical Industries Ltd.
· Perrigo UK FINCO Limited
· Pharmacia Corporation
· Procter & Gamble Co.
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*The 2mg Segment is Expected to Grow in the Market Due to **its Targeted Appeal to Light Smokers*
2mg nicotine gum segment has garnered a substantial market share in the nicotine gum market due to its targeted appeal to light smokers who consume fewer than 25 cigarettes daily. This niche product caters perfectly to the needs of this specific group, offering them a suitable alternative to satisfy their nicotine cravings.
The markets in North America have witnessed a notable surge in the number of health-conscious consumers, driven by various awareness campaigns and government initiatives promoting healthy lifestyles in the nicotine gum market. This growing trend towards wellness and healthier choices has significantly impacted the regional market, leading to increased demand for products that align with these preferences.
*Pharmacies Segment is Expected to Dominate the Market Due to** its Commitment to Providing Assurance of Quality Products *
Pharmacies segment currently holds the largest nicotine gum market share, primarily due to its commitment to providing assurance of quality products and maintaining consumer trust. Customers often rely on pharmacies as a reliable source of genuine and effective nicotine gums. This trust in the pharmacies' offerings is a key driver behind their dominant market position.
Regional markets in Europe are emerging as a critical player in the nicotine gum market, holding a substantial share attributed to the growing sales of nicotine products in countries such as the United Kingdom, Germany, France, Italy, and others. The increasing popularity of nicotine gums as an effective smoking cessation aid has contributed significantly to this surge in demand.
A comprehensive analysis of the major players in the nicotine gum market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
*Key Developments in the Nicotine Gum Market*
· In 2022, the Department of Health in England took a significant step towards promoting smoking cessation and healthier alternatives by launching the "Stoptober" campaign, which targeted both smoking and vaping. This campaign encouraged smokers to quit or reduce their tobacco intake by highlighting the benefits of transitioning to less harmful alternatives such as vaping. The campaign sought to support public health initiatives and reduce the prevalence of smoking-related diseases by promoting the use of e-cigarettes, considered less harmful than traditional cigarettes.
· Philip Morris International (PMI) recently made a notable acquisition by purchasing Fertin Pharma, a well-established company known for its expertise in developing and manufacturing pharmaceutical and well-being products.
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*Key Questions Answered in Nicotine Gum Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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