A comprehensive industry overview and market perspective are included in the latest study from MarkNtel Advisors titledGlobal Nicotine Patch Market. The research provides a detailed overview of the current market state, including market trends and the most recent advancements made globally. In-depth analysis of market size, share, industry trends, forecast, and competitive environment is covered in the report that presents clear picture of the market with relevant statistical data.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Global Nicotine Patch Market Definition:
Nicotine Patches are generally used among patients who want to quit smoking, as it is based on nicotine replacement therapy (NRT). These patches are transdermal patches that come in a variety of strengths to help patients quit smoking based on their tobacco addiction. It helps deliver a steady dose of nicotine to the patients’ bodies through their skin & helps them fight the withdrawal symptoms linked with tobacco cessation.
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Global Nicotine Patch Market Insights:
The Global Nicotine Patch market is projected to grow at a CAGR of around 7.8% during the forecast period, i.e., 2023-28.
Global Nicotine Patch Market Driver:
Increasing Demand for Smoking Cessation Products – There has been an enhanced demand for nicotine replacement therapy among patients, which has been supporting the global market of nicotine patches since the historical years. Consumers have been actively shifting toward smoking cessation products, owing to the amplifying awareness regarding the negative impacts of smoking tobacco. It has been observed that individuals who perform continuous tobacco smoking are at higher risk of diseases like cancer, heart disease, lung disease, etc. Smoking is also related to an increased risk of tuberculosis, certain eye diseases, etc., which further induces an urge among tobacco-addicted patients to quit tobacco intake. For instance,
In 2020, according to the Centre for Disease Control and Prevention (CDC), smoking caused around 90% of all lung cancer deaths & more women died from lung cancer each year than from breast cancer.
Henceforth, enhanced awareness among individuals regarding tobacco-related health issues & an urge to quit smoking is presumed to escalate the demand for nicotine patches among individuals during the forthcoming years.
Global Nicotine Patch Market Leading Key Players:
GlaxoSmithKline plc, Cipla Ltd, Johnson & Johnson Ltd, Sparsha Pharma International Pvt. Ltd., Dr. Reddy’s Laboratories, Inc., Perrigo Company plc, Cardinal Health, CVS Health Corp., Rusan Pharma Ltd., Target Corp., Walgreens Boots Alliance Inc. Rite Aid Corp, Others
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Global Nicotine Patch Market Segmentation:
Based on Type
– 24-Hour Patch- Market Size & Forecast 2018-2028, USD Million
— 7 mg- Market Size & Forecast 2018-2028, USD Million
— 14 mg- Market Size & Forecast 2018-2028, USD Million
— 21 mg – Market Size & Forecast 2018-2028, USD Million
– 16-Hour Patch- Market Size & Forecast 2018-2028, USD Million
— 10 mg- Market Size & Forecast 2018-2028, USD Million
— 15 mg- Market Size & Forecast 2018-2028, USD Million
— 25 mg- Market Size & Forecast 2018-2028, USD Million
Based on Distribution Channel
– Online- Market Size & Forecast 2018-2028, USD Million
– Offline- Market Size & Forecast 2018-2028, USD Million
— Hospital Pharmacy- Market Size & Forecast 2018-2028, USD Million
— Retail Pharmacy- Market Size & Forecast 2018-2028, USD Million
Based on End Users
– Hospitals- Market Size & Forecast 2018-2028, USD Million
– Rehabilitation Centres- Market Size & Forecast 2018-2028, USD Million
– Homecare- Market Size & Forecast 2018-2028, USD Million
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Global Nicotine Patch Market Geographical Analysis
– North America
– South America
– Middle East & Africa
Recent Development of Global Nicotine Patch Market:
2023: Rusan Pharma launched a campaign named “No Reason is Good Enough” to promote the adoption of its nicotine patches, i.e., 2baconil, by portraying the effectiveness of its product in reducing the psychological & other physical addictions to nicotine.
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