Global Smoking Cessation Aids Market to Reach $2.6 Billion by 2010, According to a New Report by Global Industry Analysts, Inc.
Spurred by growing awareness of the harmful health risks associated with smoking, such as, cancer, heart disease, chronic obstructive pulmonary disease (COPD), and emphysema, to name a few, the world market for smoking cessation aids is forecast to reach $2.6 billion by the year 2010.
San Jose, CA (PRWEB) April 22, 2008 -- Tobacco use is one of the major causes of premature deaths in the world. More than five million people die each year due to tobacco related illnesses. Given the fact that consumption of tobacco products is on the rise, especially among youngsters in the developing countries, there exists strong potential for growth of smoking cessation aids in Asia-Pacific, Middle East & Africa and Latin America.
Smoking cessation aids, also known as Nicotine Replacement Therapies (NRT), are medications that deliver smokers with a temporary replacement source of nicotine and aids to reduce severity of cravings for cigarettes. NRT also aids to minimize some of the withdrawal symptoms associated with smoking such as irritability, drowsiness, difficulty in concentrating, anxiety and restlessness, thus offering support for effective smoking cessation. Most commonly used smoking cessation aids include alternatives of nicotine such as nicotine patches, gums, lozenges, nasal sprays and inhalers. Certain NRT products such as nicotine patches, gums, and lozenges need no prescription and are sold OTC (over-the-counter), while nasal sprays and inhalers are available only through expert prescription.
World Smoking Cessation Aids market is forecast to grow at a CAGR of 9.13% over the period 2011 through 2015. Major regional growth is expected from stem from Asia-Pacific (inclusive of Japan), Middle East & Africa and Latin America. Together, these markets are forecast to witness a 13.81% growth over the aforementioned period. In Europe, sales of Nicotine Patches are forecast to reach $341.35 million by the year 2012. In the United States, where adult smoking has declined over the years, demand for lozenges & tablets is projected to dwindle to $141.17 million by the year 2015.
Global and regional players operating in the industry include GlaxoSmithKline Plc, Johnson & Johnson Inc, Novartis Consumer Healthcare Inc., Perrigo Company, Pfizer Inc., Nabi Biopharmaceuticals, Watson Pharmaceuticals, Inc., Alza Corporation, Cedar Health Ltd., and Fertin Pharma A/S.
"Smoking Cessation Aids: A Global Strategic Business Report", published by Global Industry Analysts, Inc. provides a comprehensive review of market trends, drivers, product profile, recent developments, mergers, acquisitions and other strategic industry activities. Analysis is presented for major geographic markets such as United States, Canada, Europe and Rest of World. Analytics for product markets such as, Nicotine Gum, Nicotine Patches, and Lozenges & Tablets, are presented for the period covering 2000 through 2015 for select markets.
For more details about this research report, please visit http://www.strategyr.com/Smoking_Cessation_Aids_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
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