According to the report "Smoking Cessation and Nicotine De-addiction Products Market (Nicotine Gums, Patches, Lozenges, Inhalers, Sprays, Sublingual Tablets, Zyban, Chantix/Champix, E-cigarettes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" ,the global market for Smoking Cessation and Nicotine De-addiction Products is estimated to grow at the rate of CAGR 8.7% in the forecasted period of 2013 to 2019 and reach a value of USD 16.02billion in 2019. This market was valued at USD 5.1 billion in 2012.
Smoking is a global epidemic and is rapidly penetrating the world at strikingly high rates. It is estimated that there are roughly 1.1 to 1.3 billion tobacco users in the world, a figure that is likely to rise to 1.6 billion over the next two decades.
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Tobacco smoke contains over 4000 chemicals of which 250 are known to be fatally harmful to humans. At least one person dies every 6 seconds from a tobacco related disease, which means, at least 10 people per minute die of a disease acquired due to use of tobacco in the world.
Smoking cessation is the medical terminology for a way to quit smoking through the use of various medicines. This may also involve assistance from healthcare professionals, psychotherapy and counseling. Knowing the risks associated with this addiction, many healthcare organizations as well as the people who wish to quit smoking are continuously adding to the demand for smoking cessation products, which include e-cigarettes, drug therapy and nicotine replacement therapy (NRT) products.
Among these three major segments of the Smoking cessation industry the NRT products, which directly transport nicotine into the users bloodstream by the virtue of flavored...