Nicotine Gum Market:
WiseGuyReports.com adds “Global Nicotine Gum Market Size study, Type, Application and Regional Forecasts 2019-2026” reports to its database.
Executive Summary
Nicotine gum is basically a smoking cessation product which helps addicted smokers to slowly overcome nicotine addiction. Nicotine is released on chewing gum and is absorbed into the bloodstream of the individual through the lining of the mouth that helps smokers to slowly lower their craving for nicotine. It is one of the nicotine replacement therapies and it is an over the counter medication for the smokers across the globe. It is a major product used in Nicotine Replacement Therapy (NRT).
The Nicotine Gum market is primarily driven owing to surge in health awareness, higher availability of nicotine gum and increase in demand. The total market demand comes from medical institutions and rehab clinics as well as individuals, for the purpose of nicotine cessation, in both the developed and developing countries across the globe. The nicotine content in these chewing gums is usually 2 or 4 mg of nicotine, which is nearly one sixth of a regular cigarette. The dosage and administration of this product is prescribed based on the need of the individual and severity of the case.
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The global nicotine gum market was valued at US$373.1 million approximately in 2018. The report on the global nicotine gum market estimates the market to grow at a rate of about 5% over the forecast period 2019-2026. The global gum market is on the upswing trend considering the current global scenario. The report also contains detailed information about the crucial aspects such as driving factors & challenges. These define the future growth of the market. It also contains information regarding opportunities in micro markets for stakeholders, also giving a view of the competitive landscape and product offerings of key players.
Market Segmentation
The report looks into the segments and subsegments of the market that are demarcated based on the product type and application. The market size and share of each of these segments along with the revenue, sales, and growth rates have been given. The market can be split into the 2 Mg Nicotine Gum, 4 Mg Nicotine Gum, and 6 Mg Nicotine Gum segments based on the type. These vary only in the nicotine content present in them. The other segmentation based on the application is categorized into Withdrawal Clinics, Medical Practice, and Individual Smokers. The end-user segment data can be very useful in understanding the downstream market demand and consumption patterns.
Regional Analysis
The geographical segmentation of the global nicotine gum market done by analysts the report is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The North American region has the fastest growing market across the world in terms of market share. With large economies and high growth rates, countries such as China, Japan, and India, the Asia-Pacific region is expected to be a dominant player in the global nicotine gum market over the forecast period 2019-2026. The other countries included in this report are Canada, Brazil, Mexico, Germany, and the UK.
Industry News
The Perrigo Company has received approval from the U.S. Food and Drug Administration (FDA) for its latest product – a nicotine gum coated in cinnamon flavour. The product will be marketed as an over-the-counter product under store brand labels. This may be the company’s take on GlaxoSmithKline’s Nicorette Cinnamon Surge coated gum, a leading cessation aid. The whole range of its product line includes mint-flavored gum, coated fruit wave, uncoated gum and lozenges.
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