Dublin, Feb. 13, 2019 (GLOBE NEWSWIRE) -- The "Global Nicotine Gum Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The nicotine gum market will register a CAGR of over 5% by 2023.

Increase in number of people quitting smoking to drive market growth. It is estimated that tobacco will cause more than 8 million deaths annually by 2030. In the US, cigarette smoking is responsible for nearly 480,000 deaths every year. The number of quit attempts it takes before smokers are successful at quitting smoking varies. According to the American Cancer Society, it takes about 8-10 quit attempts, while the Australian Cancer Council suggests that it takes 12-14 attempts to quit the habit of smoking.

Market Overview

Growing enrolment in smoking cessation therapies

The smoking cessation therapy is gaining popularity among consumers who are trying to quit smoking, and in certain countries, governments are sponsoring smoking cessation therapy programs. In the US, Department of Health and Human Services is sponsoring tobacco cessation programs through its supported health centers. Thus, the increasing application of nicotine gums as a medium to help consumers quit smoking will help in the growth of the global nicotine gums market during the forecast period.

Presence of substitute products

The availability of many substitute products can negatively influence the growth of the market during the forecast period. Nicotine patches, nicotine snus, nasal sprays, inhalers, and lozenges are some of the substitutes to nicotine gum. The emergence of e-cigarettes has considerably challenged the growth of the market.

For the detailed list of factors that will drive and challenge the growth of the nicotine gum market during the 2019-2023, view this report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including GlaxoSmithKline and ITC Limited, the competitive environment is quite intense. Factors such as the growing enrolment in smoking cessation therapies and the increase in number of people quitting smoking, will provide considerable growth opportunities to nicotine gum manufacturers.

British American Tobacco, GlaxoSmithKline, ITC Limited, Johnson & Johnson Services, and Novartis are some of the major companies covered in this report.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY PRODUCT

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

PART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

PART 14: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/k227n3/global_nicotine?w=12

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Related Topics: Over the Counter (OTC) Drugs, Addiction Disorders Drugs