Leading Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major nicotine gum market players. It further includes product portfolios, developments of leading major players which includes
The leading market players in nicotine gum primarily are Novartis Consumer Health Inc, Perrigo Co. Plc., Pfizer Inc., Fertin Pharma, Glaxosmithkline Plc., Johnson & Johnson, Cambrex Corporation, and Reynolds American.
Nicotine Gum market is dominated by key manufacturers. Many key manufacturers are focusing on R&D activities to expand their product portfolio and to create product differentiation from competitors.
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The Global Market for nicotine gum has witnessed continued demand during the last few years and is projected to reach USD 5,986 Million by 2022, at a CAGR of 3.01%, in terms of. Increase in demand for Nicotine Replacement Therapy (NRT) and its products, will drive the demand higher for nicotine gum in the decade. Increase in health awareness and higher availability of nicotine gum globally will support the market growth in the coming years.
Increase in awareness on the benefits of NRT products in terms of both efficacy and effectiveness has resulted in higher demand for nicotine replacement therapy (NRT) products including nicotine gums.
The prime objective of innovation in nicotine gum products and processes include achieving reductions in cigarette consumption by offering various product forms, flavors, and packaging styles. According tobacco Australia, NRT helps in long-term quitting by 50–70%. Some studies reveal that use of nicotine gum or inhaler can help smokers to reduce the number of cigarettes they smoke and their intake of carbon monoxide. The nicotine gum market, based on type, is segmented into 2 mg, 4 mg, and 6 mg dosage forms. The 2 mg segment of Nicotine Gum held a lion share in 2015, and is projected to grow at a CAGR of 3.35% during the forecast period. The 2 mg market segment has been targeted for those who smoke fewer than 25 cigarettes a day. The second dosage segment inclusive of 1 mg, 6 mg and other dosage forms witnessed an increased market growth during the period, 2011-2015.
The mechanism in Nicotine gums involves the release of nicotine which is absorbed by the body and binds with the nicotine receptors, reducing nicotine craving and withdrawal symptoms associated with smoking cessation. Despite high benefits, there are side-effects that include an increased heart rate, increased blood pressure, hiccups, heartburn, oral irritation, dental pain, nausea and indigestion, which has limited the nicotine gum potential demand.
The North American region had the largest market share in the year 2015. The prime objective of innovation in nicotine gum products and processes include achieving reductions in cigarette consumption by offering various product forms, flavors, and packaging styles. The 2 mg segment had the largest market share of more than 50% in the year 2015
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Nicotine Gum Market is segmented into Europe, North America and Asia Pacific along with rest of the world (RoW). Among this North America region is dominating the nicotine gum market followed by Asia Pacific. North America and Europe will lose market share in the 2 mg nicotine market by the year 2022. Asia-Pacific market will be a major region for 2 mg dosage nicotine gum and is projected to grow at 4.62% during the forecasted period 2016-2022. Asia-Pacific region is emerging as new target region including China, India, and Japan and South-East Asian countries.
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