Quitting smoking mainly refers to the process of quitting. Tobacco smoke contains nicotine, which can become addictive and lead to dependence, making the quitting process difficult. Smoking cessation products, can help smokers to mitigate nicotine cravings and symptoms of withdrawal. Smoking cessation products are available in the type of gums, patches, inhalers, nasal sprays, and e-cigarettes.
The antidepressant, Zyban (bupropion) is considered a first-line medication for smoking cessation and has been shown in many studies to increase long-term success rates. Chantix or Champix (varenicline) decreases the urge to smoke and reduces withdrawal symptoms and is therefore considered a first-line medication for smoking cessation. Clonidine may reduce withdrawal symptoms and approximately doubles abstinence rates when compared to a placebo, but its side effects include dry mouth and sedation, and abruptly stopping the drug can cause high blood pressure and other side effects. Interventions such as nicotine replacement therapies (NRTs) work by delivering nicotine into the body to ease withdrawal, while allowing the smoker to break the behavioral habits associated with the cigarette itself. E-cigarettes create an aerosol, commonly called vapor, made of particulate matter. The vapor typically contains propylene glycol, glycerin, nicotine, flavors, and traces of toxicants, carcinogens, heavy metals, and metal nanoparticles. E-cigarettes are becoming a preferred alternative for nicotine delivery among many smokers because of their realistic look, feel, and taste compared to traditional cigarettes. The FDA has reported that e-cigarette cartridges and solutions contain potentially harmful components and they recommend that the sale of e-cigarettes should be prohibited or regulated as dangerous nicotine delivery systems. Smoking cessation products can be divided into hospital pharmacies, retail pharmacies and online pharmacies according to the application or distribution channels. People who need to buy smoking cessation products can buy them in these places.
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Global Market Analysis and forecast of smoking cessation products
After a period of development, the Smoking Cessation Drugs and Nicotine Replacement Therapies (NRTs) industry is at a mature stage, meanwhile, the E-Cigarette industry is growing rapidly. With the continuous upgrading of products and the development of technology and economy, the market continues to expand. The Industrial smoking cessation products is primarily a highly competitive market. Market concentration is high. The market share of the top three companies in 2019 was 42.37%. The top three companies are Philip Morris International, British American Tobacco (BAT), GSK with the revenue market share of 23.30%, 12.74%, 7.85% in 2020.
According to our research, the Global smoking cessation products market has a total revenue of 13220.53 M USD back in 2015, and increased to 28420.59 M USD in 2020. We made a series of functional calculation and deduced the past 5 year’s data with scientific model. Finally, we made the prediction that the value of smoking cessation products markets can be 70270.85 M USD by 2025. The CAGR of smoking cessation products is 19.85% from 2020 to 2025. North America was the largest revenue market with a market share of 45.05% in 2015 and 45.79% in 2020, an increase of -0.72%. In 2020, the Europe market share was 29.86%, ranking second. In addition, China smoking cessation products market is expected to be the growing market. Development of economy, increase downstream demand, technology innovation progress in these areas will promote the smoking cessation products market.
The growth of the smoking cessation products market is driven by the downstream demand market. As the global economy develops, the population continues to increase. Growing market demand plays an active role in the expansion of the smoking cessation products market. Higher product quality and more affordable products will be one of the growth opportunities in this market in the future. At the same time, competition in new regions may become more intense. This may become a factor hindering market growth.
The impact of Covid-19 outbreak on the development of smoking cessation products industry
The COVID-19 Outbreak has led to a decline in offline passenger flow, and the advantages of e-commerce companies have become prominent. During the epidemic prevention and control period, some smoking cessation products enterprises did not carry out internet marketing and promotion for their business, so they encountered great resistance in undertaking business. For enterprises that fail to make good use of network promotion means, there is almost no market development during the epidemic period, and the original offline market development plan is disrupted, and the epidemic will face fierce market homogenization competition, which is expected to have a great impact on the company\'s business throughout the year.
The epidemic will have a short-term impact on smoking cessation products industry, but it is relatively limited. Due to the impact of the epidemic, the production of raw materials and equipment procurement and transportation supply are difficult to be in place, and upstream enterprises affect the work schedule of downstream enterprises. Equipment manufacturing and product manufacturing enterprises in smoking cessation products industry are affected to different degrees, and the production and delivery work may be delayed to some extent. Meanwhile, if it fails to meet the customer\'s delivery time requirements according to the contract, it may lead to the customer looking for another enterprise and lose business.
The impact of COVID-19 on the smoking cessation products industry will involve all major links and all entities in the industry chain. The company\'s management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises. Although various industries around the world are gradually resuming work, production and demand will not pick up rapidly and substantially, and will require a certain recovery period.
With Coronavirus sweeping the world, news such as novel Coronavirus that smokers may be more likely to develop into a serious illness increases their chances of quitting. Everyone is at risk for COVID-19. The disease is especially dangerous for people with underlying conditions such as heart or lung disease. Studies have shown that people who smoke tobacco products or marijuana may also have a higher risk of developing severe illness if they become infected with the virus. People who smoke regularly are at higher risk of contracting COVID-19 and causing problems easily. Covid-19 increases smokers\' sense of urgency to quit, and there is good reason to believe that quitting during a pandemic increases their chances of fighting the virus. All these factors increase the chances of smokers using smoking cessation products and are expected to increase consumption, which brings opportunities for the development of the smoking cessation products industry.
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