Report : Europe Smoking Cessation Aids Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Nicotine Replacement Therapy, Drugs, Electronic Cigarettes, and Others) and End User (Hospital Pharmacies, Online Channel, Retail Pharmacies, and Other End Users)
The electronic cigarettes segment by product is estimated to lead the market growth during the forecast period.
According to a new market research study of “Europe Smoking Cessation Aids Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, End User and Country.” The Europe smoking cessation aids market is expected to reach US$ 18,639.80 million by 2028 from US$ 7,089.48 million in 2021; it is estimated to grow at a CAGR of 14.8% from 2021 to 2028. The report highlights trends prevailing in the Europe smoking cessation aids market and the factors driving market along with those that act as hindrances. Key factors that are driving the growth of this market are rising addiction toward tobacco smoking and increasing number of campaigns to reduce smoking and tobacco dependence. However, steeping costs for development of nicotine replacement therapies are likely to restrain the market growth in the future years to some extent.
The government and nongovernment organizations worldwide are coming forward and launching campaigns to provide awareness and undertake measures to curb the diseases caused due to smoking and tobacco consumption. The measures are taken to reduce the economic and health burden caused due to cigarette smoking in countries worldwide. For instance, every year on May 31st, the WHO along with its global partners celebrate World No Tobacco Day (WNTD) to spread education and awareness regarding the harmful and deadly effects of tobacco and second-hand smoke exposure. Initiatives undertaken on this day mainly aim to discourage the consumption of tobacco in any form and educate people regarding the availability of aids that assist in smoking cessation. The launch of anti-smoking campaigns is organized on global, national, and regional levels worldwide. The governments of various countries have increased excise duties and taxes on tobacco-based cigarettes and cigars to reduce its affordability and thus consumption among common populace. In addition, numerous governments have legalized the use of e-cigarettes as a smoking cessation aid under licensed sales channels to prevent people from opting conventional cigarettes. Thus, the increasing efforts undertaken by governments as well as non-profit and nongovernment organizations to promote the use of smoking cessation aids and reduce the number of smoking populations boost the market growth. The substance and tobacco abuse treatment industry are getting competitive every consecutive year with the introduction of new and innovative therapies by the market players for smoking cessation aids. In addition, medical devices such as nicotine-free e-cigarettes and vapes are being launched by market players at local and regional levels. Thus, the consistent launch of new and innovative smoking cessation aids would become a prevalent trend in the smoking cessation aids market in the coming years.
The Europe region is highly affected due to the outbreak of the COVID-19 pandemic. As per the WHO, they have been evaluating new research constantly, and the new research states that there is positive relation between tobacco and nicotine use, helping COVID-19 patients to get well. For increasing risk for COVID-19, smoking is the major cause of underlying health conditions. However, there is currently insufficient information to confirm any link between tobacco or nicotine in the prevention or treatment of COVID-19. Hence, the impact of the COVID-19 pandemic on smoking cessation aids market is low in Europe region.
The Europe smoking cessation aids market, by product, is segmented into nicotine replacement therapy, drugs, electronic cigarettes, and others. Based on end user, the Europe smoking cessation aids market is segmented into hospital pharmacies, online channel, retail pharmacies, and other end users. Geographically the Europe smoking cessation aids market can be bifurcated into UK, Germany, France, Italy, Spain and Rest of Europe.
Pfizer Inc., GlaxoSmithKline plc., Dr. Reddy's Laboratories, Johnson and Johnson Services, Inc., Cipla Inc., Perrigo Company plc, Bausch Health Companies Inc., and Glenmark are among the leading companies operating in the Europe smoking cessation aids market.
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