The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s nicotine addiction treatment market report forecasts the nicotine addiction treatment market size to grow to $12.24 Billion by 2027, with a CAGR (compound annual growth rate) of 8%.

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Nicotine Addiction Treatment Market Size Forecast
The global nicotine addiction treatment market is expected to grow from $8.29 billion in 2022 to $9.00 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global nicotine addiction treatment market size is expected to grow to $12.24 billion in 2027 at a CAGR of 8.0%.

North America held the largest nicotine addiction treatment market share.

Key Nicotine Addiction Treatment Market Driver ­– Rise In The Prevalence Of Tobacco Addiction Among Teenagers
According to the Centres for Disease Control and Prevention, a US-based government public health body, in November 2022, about 90% of persons who smoke cigarettes daily had tried their first cigarette by the age of 18. cigarette flavouring can boost the appeal of cigarette products to young people. In 2021, 80.2% of high school pupils and 74.6% of middle school students reported consuming tobacco products in the previous 30 days due to flavoured tobacco products. As a result, the increased prevalence of tobacco addiction among youngsters is propelling the nicotine addiction treatment industry forward.

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Key Nicotine Addiction Treatment Market Trend – Innovative Solutions
To maintain their market position, major firms in the nicotine addiction treatment market are focusing on releasing novel solutions. For example, in February 2022, the World Health Organisation (WHO), a United Nations specialised agency based in Switzerland that is responsible for international public health, developed the ‘Quit Tobacco App’ to assist people in quitting smoking. It is the first programme to exclusively target all tobacco products and aids users in quitting by assisting them in identifying triggers, setting objectives, controlling cravings, and staying focused. Innovative solutions, such as this software, are sorely needed to assist individuals in quitting smoking, which they may be aware is harmful yet find difficult to quit for a variety of reasons.

Nicotine Addiction Treatment Market Segment
1) By Type: Pharmacological, Therapies, Other Types
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
3) By End-User: Generation Z, Millennials, Generation X, Silent Generation

Nicotine Addiction Treatment Market Major Players and Strategies
Major players in the nicotine addiction treatment market are Cipla Limited, Pfizer Inc., Glenmark Pharmaceuticals Limited, Johnson & Johnson Private Limited, Japan Tobacco Inc., Philip Morris International Inc., British American Tobacco PLC., Imperial Brands PLC., GSK PLC., Perrigo Company PLC., NJOY, Takeda Pharmaceutical Company Limited, Dr. Reddy’s Laboratories, and Cambrex Corporation.

Fertin Pharma was purchased for $820 million by Philip Morris International Inc., a tobacco business located in the United States, in June 2021. Philip Morris intends to use the Fertin technology in scientifically proven botanicals and more self-care wellness goods to expand into smoke-free products such as nicotine. Fertin Pharma is a pharmaceutical firm established in Denmark that specialises in pharmaceutical and nutraceutical goods such as medical chewing gum used in nicotine addiction therapy.

The Nicotine Addiction Treatment Global Market Report 2023 covers regional data on nicotine addiction treatment market size, nicotine addiction treatment market trends and drivers, opportunities, strategies, and nicotine addiction treatment market competitor analysis. The countries covered in the nicotine addiction treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Nicotine addiction treatment, also known as nicotine dependence treatment, is a method that helps people quit smoking while simultaneously alleviating nicotine cravings and withdrawal symptoms.

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