Nicotine Patch Market Research Report: With a CAGR of 7.8% – MarkNtel Advisors
Market Overview: Nicotine Patch Market
MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Nicotine Patch Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Nicotine Patch Market Insights 2023-28
The Nicotine Patch Market is estimated to grow at a CAGR of around 7.8% during the forecast period 2023-28.
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Driving Innovation: Exploring the Nicotine Patch Market and its Key Drivers
Global Nicotine Patch Market Key Drivers: 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.
Top Players in the Nicotine Patch Market:
PPG Industries Inc., Akzo Nobel N.V., Axalta Coating System, Sherwin-Williams Company, Jotun Group, RPM International Inc., Arkema S.A., Nippon Paint Holdings, IGP Nicotine Patch, 3M, Tiger Coatings GmbH & Co.KG, Kansai Nerolac Paints Ltd., A & I Coatings, Others
Nicotine Patch Industry Recent Development:
- 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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Segmentation Analysis of Nicotine Patch Market
Nicotine Patch Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2023-28, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Type
-24-Hour Patch
–7 mg
–14 mg
–21 mg
-16-Hour Patch
–10 mg
–15 mg
–25 mg
- the 24-hour patch has experienced considerable demand in the Global Nicotine Patch market during the historical years.
By Distribution Channel
-Online
-Offline
–Hospital Pharmacy
–Retail Pharmacy
By End Users
-Hospitals
-Rehabilitation Centres
-Homecare
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A Comprehensive Geographical Analysis:
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
- Regionally, Asia-Pacific has been observed to show significant development in the adoption of nicotine patches during the historical years.
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About Us
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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