Market Overview
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. 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. 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.
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. 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 had the largest market share in the year 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.
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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Competitive Analysis-
The major Key Players in Nicotine Gum Market are
- Pfizer Inc.
- Fertin Pharma
- Glaxosmithkline Plc
- Perrigo Co. Plc.
- Novartis Consumer Health Inc.
- Johnson & Johnson
- Cambrex Corporation
- Reynolds American
By Application Analysis-
To tap the consumer market, various flavors of nicotine gums including lemon, cinnamon, fruit, mint and others, have been introduced. The unique features of the product including rapid alleviation of nicotine withdrawal symptoms, capability of protecting oral mucosa, fluid-engendering, and throat-moistening have contributed to the innovation in the nicotine gum market. 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, oral irritation, dental pain, hiccups, heartburn, nausea and indigestion, which has limited the nicotine gum potential demand.
Regional Analysis
Global Nicotine Gum Market is segmented into North America, Europe, 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 expected to grow at 4.62% by the year 2022. Asia-Pacific region is emerging as new target region including China, India, and Japan and South-East Asian countries.
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List of Tables
TABLE 1pestle Analysis-U.S
TABLE 2pestle Analysis-INDIA
TABLE 3 Pestle Analysis-CHINA
TABLE 4pestle Analysis-JAPAN
Continued….
List of Figures
FIGURE 1research Methodology
FIGURE 1primary Data Analysis Approach
FIGURE 2 Secondary Data Analysis Approach
FIGURE 3 Trends in Nicotine Gum Imports 2011-14
FIGURE 4growth Rate in Nicotine Gum Imports 2011-14
Continued….
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