Global Nicotine Gum Industry 2019 Market Research Report, Popular Trends & Technological Advancements, Forecast & Opportunities
The report on Nicotine Gum Market by Infinium Global Research analyzes the Nicotine Gum market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Global Nicotine Gum market. It will help a lot of decision makers to develop strategies and find new opportunities in the Global Nicotine Gum market. According to the report, the global nicotine gum market is projected to grow at a CAGR of 3.82% over the forecast period of 2019-2025.
Nicotine Gum Market: Market Insight
The nicotine gum market is highly competitive and fragmented in nature. Many of the local drug manufacturers compete with the well-established players in the market. The key market players in the nicotine gum market include Novartis Consumer Health Inc, GlaxoSmithKline plc. Johnson and Johnson, British American Tobacco plc and others are focusing on broadening the product portfolio by adding new flavors and innovative products.
Increase in awareness regarding health hazards associated with smoking is the major driving factor for the nicotine gum market, globally. Moreover, the rise in smoking cessation campaigns is anticipated to boost the market growth. Additionally, an increase in the number of people actively quitting smoking is further propelling the nicotine gum market. However, the side effects of currently available NRT products are hindering the market growth. Further, the introduction of new products and packaging in the market is expected to offer new opportunities for market growth.
Nicotine Gum Market: Segmentation
The global nicotine gum market is segmented based on dosage and distribution channel. The dosage segment of nicotine gum is categorized into 2 mg, 4 mg, and 6 mg. Among these, the 2 mg is the largest segment with the highest share in the global nicotine gum market. This large market share of the segment attributes to the new product launches and the introduction of new flavors in 2 mg dosage gums. Based on distribution channel the nicotine gum market is classified into retail stores, retail pharmacies and online retail. Retail stores segment holds the largest share in the global nicotine gum market based on the distribution channel. This is due to the easy availability and accessibility of the NTR products, and increased spending on smoking cessation products.
Based on the region, the global nicotine gum market is divided into four regions including, North America, Europe, Asia-Pacific, and Rest of the World. North American region dominated the global nicotine gum market owing to the high number of smokers, the government initiatives to encouraging people to quit smoking through several anti-smoking campaigns coupled with the rise in a number of new product launches in the region. However, the nicotine gum market in the Asia Pacific is expected to grow at the highest rate owing to the rise in health awareness, increase in population, and development of public health care systems in countries such as China, India, and South Korea.
Browse Complete Global Report and Detailed TOC: https://www.infiniumglobalresearch.com/healthcare-medical-devices/global-nicotine-gum-market
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