Description
The Global Nicotine Patch Market stood at USD 193 million in 2018 and will gain a CAGR of 10.8% during the forecast period.
A nicotine patch is a device that delivers nicotine into the body through the skin. This patch is usually used to help prevent nicotine cravings that smokers experience when trying to quit smoking. A nicotine patch is a product used for nicotine replacement therapy (NRT). These transdermal patches are exclusively used for smoking cessation. This patch is stick on the body, where nicotine is released from the patch and is absorbed by the skin. Released nicotine binds to nicotine receptors in the body, by reducing craving and symptoms related to smoking cessation. It helps people stop smoking cigarettes. The nicotine patches such as NicoDerm CQ are used. It releases controlled and low quantities of nicotine, without the release of harmful ingredients found in tobacco such as carbon monoxide and tar.
The report covers all the major trends and drivers playing a vital role in the growth of the global market. The market has been segmented on the basis of region, product, and distribution channel.
Market Dynamics: Drivers, Restraints, Opportunities Challenges
The global Nicotine Patch Market is primarily driven due to rising awareness amongst the population regarding smoking health hazard and increasing research and development. On the other hand, the factor that is restraining overall market growth is side effects of the nicotine patch. The nicotine patch is easy to use and gives you Nicotine all day (although it releases Nicotine a bit slower than the mouth spray, lozenge, gum or inhalator). After putting the patch on, it can take hours to absorb the Nicotine and get to a comfortable level. These patches reduce the risk of cardiovascular diseases and other non-communicable diseases, including cancer. Besides, these patches also help in enhancing the skills related to reaction time, vigilance, and coordination while sharpening the short-term memory of smokers.
Various anti-smoking initiatives and campaigns are being launched and conducted by organizations to create awareness. Smoking cessation aids, including nicotine patches, are gaining popularity among consumers, which will considerably drive market growth during the forecast period.
Another major factor fueling growth in Nicotine Patch market is increasing internet penetration in developing countries. India accounted for 461.35 million internet users in 2017. This has resulted in the increased sales of oral care products such as Nicotine Patch through e-commerce.
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However, side effects of nicotine patches are projected to restrain the global nicotine transdermal patches market during the forecast period.
Key Segment
Globa Nicotine Patch Market By product:
• 16-hour nicotine patch
• 24-hour nicotine patch.
The 24-hour Nicotine Patch is dominating the market in 2018 with the highest share in 2018. Both patches decreased morning smoking urges, although results are significantly superior for the 24-hr patch. Furthermore, the 24-hr patch is more effective than the 16-hr patch in reducing the positive reinforcing dimension of smoking urges. The 24-hr nicotine patch formulation is more effective than the 16-hr formulation in alleviating morning smoking urges and more specifically, the decisive reinforcing factor.
Habitrol by Dr. Reddy’s Laboratories Ltd. is a nicotine patch that uses time-release technology to curb withdrawal symptoms and with behavior support program increases your chances of quitting. The Habitrol patch replaces some of the nicotine that your body would otherwise get from smoking—without the other harmful chemicals found in cigarette smoke. With a patch, the withdrawal symptoms many feel while kicking the habit are diminished.
Geographical Landscape
By geography, the global Nicotine Patch market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
North America and Europe held the majority of the market share in 2018 and are likely to retain its dominance over the estimated period. Globally, production and consumption of Nicotine Patch have also increased significantly in the last five years. Tobacco use is the leading cause of disability, death, and preventable disease in the .U.S. According to the Centers for Disease Control and Prevention (CDC), about 40 million U.S. adults smoke cigarettes. Additionally, about 4.7 million high school and middle school students use at least one tobacco product, such as hookah and e-cigarettes. Every year, the U.S. spends nearly US$ 170 Bn on medical care to treat smoking-related disease in adults. The global nicotine patches market is expected to be driven by an increase in awareness among people regarding conditions and side effects caused by smoking and increase in government initiatives and new policies for the development of health care infrastructure.
For instance, the U.S. Department of Health and Human Services is running a campaign called Fresh Empire. It is the FDA’s first public education campaign designed to reduce and prevent tobacco usage among at-risk youth between the ages of 12 and17 years who identify with hip-hop culture, specifically Asian American/Pacific Islander, Hispanic, and African American youth. In developing countries of regions like APAC, MEA, and South America rise in the population of people using nicotine patch has resulted in considerable growth in the market.
Competitive Landscape
Key players are adopting strategies such as mergers and acquisitions, partnerships, regional expansion, and product launches to stand out as strong competitors in the market. Global Nicotine Patch Market is concentrated with the presence of a few global and local players in the market. Creating consumer awareness by aggressive marketing strategies and greater visibility of products across retail space are other steps taken by market participants to generate demand. Intense rivalry among top players in the market has started fierce competition at various levels for developing a new product, setting a low price, driving aggressive marketing strategies and new product launches according to consumers’ preference.
Major players in the market areDr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc., Johnson & Johnson Services, Inc., Novartis AG, Perrigo Company plc. Other key players in the market areCipla, Revolymer, Walgreens, and Cigna. NicoDerm CQ is a Nicotine patch by GlaxoSmithKline plc. Its extended-release SmartControl Technology ensures that the therapeutic nicotine in NicoDerm CQ won’t be delivered all at once, or run out too soon. It starts to release nicotine quickly and flows steadily all day long.
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