Nicotine Replacement Therapy Market is Poised for Remarkable Expansion, Forecasted to Reach US$ 52.1 Billion by 2031

Government initiatives & awareness programs, research & development and rise in usage of smoking cessation aids are driving market.

WILMINGTON, DELAWARE , UNITED STATES, October 31, 2023 /EINPresswire.com/ -- The research report titled “𝐍𝐢𝐜𝐨𝐭𝐢𝐧𝐞 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭” by Transparency Market Research, Inc. delivers a comprehensive analysis of industry dimensions, market share, and cutting-edge innovations, alongside current and prospective trends. This examination of the Nicotine Replacement Therapy sector scrutinizes pivotal market trends and corporate strategies for the foreseeable future, with projections extending to 2031. Furthermore, the report delves into prominent manufacturers, market advancements, prospects, obstacles, and the overarching market risk landscape.

The global Nicotine Replacement Therapy market value is expected to reach US$ 52.1 Billion by 2031, at a CAGR of 7.7%.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=54747

𝐆𝐥𝐨𝐛𝐚𝐥 𝐍𝐢𝐜𝐨𝐭𝐢𝐧𝐞 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

• Nicotine replacement therapy (NRT) is a treatment that helps people quit smoking by replacing the nicotine they would obtain from cigarettes or other tobacco products. The goal of NRT is to reduce withdrawal symptoms and cravings associated with nicotine addiction, thereby increasing the chances of successfully quitting smoking.

• It is available in several forms, including gum, patches, lozenges, inhalers, and nasal sprays. NRT can be an essential tool in helping people overcome nicotine addiction and quit smoking.

• According to an article published in the journal Frontiers Psychiatry, in November 2022, NRT is a widely recognized and effective intervention for smoking cessation, and considered the gold standard. NRT can significantly increase the rate of smoking cessation by 50% to 70%.

• According to the Centers for Disease Control and Prevention (CDC), NRT products are much safer than smoking, as the hundreds of hazardous compounds in cigarette smoke are the primary cause of most of the health hazards and not nicotine.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/checkout.php?rep_id=54747&ltype=S

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐍𝐢𝐜𝐨𝐭𝐢𝐧𝐞 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭

• 𝐈𝐧 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟐𝟎𝟐𝟐, Qnovia, a Los Angeles-based pharmaceutical company, raised US$ 17 Mn in series funding to advance its lead inhaled drug delivery candidate into clinical trials. The candidate, RespiRx, is a nicotine replacement therapy that uses a hand-held vibrating mesh nebulizer to generate an aerosol for inhalation. The device is designed to overcome the limitations of existing systems by delivering precise doses and enabling optimal delivery to the lungs. Qnovia aims to redefine the standard of effective inhaled drug delivery using this device. The funding will support the company's efforts to initiate human testing of RespiRx. The success of this clinical trial could have significant implications for the treatment of nicotine addiction and other respiratory conditions.

• 𝐈𝐧 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 𝟐𝟎𝟐𝟏, Johnson & Johnson Consumer Health, through its partnership with the Access Initiative for Quitting Tobacco (AIQT), donated nicotine replacement therapy to the Ministry of Health of Jordan. This marks the first-ever donation of this kind received by the Ministry of Health of Jordan. The estimated retail value of the donation is around US$ 800,000, and it aims to help thousands of Jordanians and refugees quit smoking during the COVID-19 pandemic and beyond. The donation demonstrates the commitment of Johnson & Johnson Consumer Health and AIQT to support public health initiatives and promote smoking cessation in Jordan.

𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐔𝐩𝐝𝐚𝐭𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐈𝐧𝐜𝐥𝐮𝐝𝐞:

- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐎𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭𝐬: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=54747

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐭 𝐬𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐍𝐢𝐜𝐨𝐭𝐢𝐧𝐞 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐦𝐚𝐫𝐤𝐞𝐭

Haleon Group of Companies, Perrigo Company plc, SAABI NZ PTY Limited, Pfizer, Inc., PL Developments, Philip Morris International, Inc., Cipla Limited, JUUL Labs, Inc., JT International SA, Imperial Brands plc, Pierre Fabre S.A., Sparsha Pharma International Pvt. Ltd., Rubicon Research Pvt. Ltd., Lucy Goods, McNeil AB (Johnson & Johnson), BAT plc., and Fontem Holdings 4 B.V.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐍𝐢𝐜𝐨𝐭𝐢𝐧𝐞 𝐑𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭-

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞

• Smoking Cessation Aids

o Nicotine Inhalers
o Nicotine Gums
o Nicotine Lozenges
o Nicotine Patches
o Others (nicotine tablets, nicotine spray, etc.)

• Vaping System

o E-cigarettes
o Heat-not-burn Tobacco Products

𝐁𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

• Retail Pharmacies
• Hospital Pharmacies
• Online Stores

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡-

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Nikhil Sawlani
Transparency Market Research Inc.
+ +1 518-618-1030
sales@transparencymarketresearch.com
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