Smoking Cessation And Nicotine De-Addiction Market to grow at a CAGR of 15.84% during 2024-2028
The Smoking Cessation And Nicotine De-Addiction Market is expected to grow at a CAGR of 15.84% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 36983.3 million. Vendors in the global smoking cessation and nicotine de-addiction market are implementing innovative marketing strategies to expand their customer base. Notably, JUUL Labs, a leading player, launched its first television ad campaign, "Taste Test Drive," featuring testimonials from adults aged 35 and above who have successfully quit smoking using JUUL products. The campaign, which includes Dale Earnhardt Jr., highlights the struggles of hiding smoking and personal quitting journeys. Such targeted marketing efforts are expected to stimulate growth in the smoking cessation and nicotine de-addiction market during the forecast period.
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Technavio analysts predict that the Drug stores and retailers subsegment will lead the Distribution Channel segment during 2024 and 2028 In the global smoking cessation and nicotine de-addiction market in 2023, drug stores and retailers represent a significant market segment. This sector's growth is attributed to the adoption of emerging technologies and enhanced customer service at leading retail pharmacies. These initiatives foster customer loyalty by keeping them informed about treatment options and ensuring seamless access to high-quality pharmaceuticals. However, the segment has experienced a consistent decline in sales due to the increasing preference for online shopping. To counteract this trend, vendors are broadening their market reach by entering local and regional markets. They distribute their products through a combination of specialty stores and various retail formats to maintain a strong offline presence.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish rising adoption of online retailing
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Title: Smoking Cessation and Nicotine De-Addiction Market: Behavioral Therapies and Pharmacological Interventions The Smoking Cessation and Nicotine De-Addiction Market encompasses various treatments aimed at helping individuals quit tobacco use. Two primary categories of interventions are Behavioral Therapies and Pharmacological Therapies. Behavioral therapies include counseling, group support, and self-help methods that address the psychological and behavioral aspects of nicotine addiction. These therapies aim to change the thought patterns and behaviors associated with smoking. Pharmacological therapies, on the other hand, use drugs to help manage nicotine cravings and withdrawal symptoms. Non-nicotinic pharmacological therapies like ORCA-3 study's cytisine (an alkaloid found in the laburnum plant) and other drugs target the neurotransmitter systems affected by nicotine. Nicotine replacement therapies, such as nicotine inhalers, nicotine sublingual tablets, nicotine gums, nicotine lozenges, nicotine sprays, and nicotine transdermal patches, deliver controlled doses of nicotine to help reduce cravings. Drug therapy options like Chantix (varenicline) and Zyban (bupropion) act on neurotransmitter systems to help reduce nicotine cravings and improve the chances of quitting. Despite the availability of these treatments, tobacco use remains a leading cause of chronic diseases due to the harmful chemicals in tobacco, including nicotine. The rise of e-cigarettes and other nicotine delivery systems further complicates the landscape of smoking cessation and nicotine de-addiction.
The Smoking Cessation and Nicotine De-Addiction market falls under the broader Pharmaceuticals sector, encompassing entities involved in research and development (R&D) or production of generic and non-generic drugs, as well as veterinary drugs. According to Technavio, the global Pharmaceuticals market size is determined by the consolidated revenue generated by manufacturers and providers of medical equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Factors driving the expansion of the global Pharmaceuticals market include the increasing aging population, with the proportion of the global population aged 60 years and above predicted to rise significantly. By 2050, approximately one-quarter of the US population is projected to be over 60 years old, while Europe is expected to reach a similar population demographic by 2030.
The Smoking Cessation And Nicotine De-Addiction Market is experiencing significant growth, fueled by the rising adoption of online retailing. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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