Research On Global Markets
Syndicated Market Research Report
Recent social studies suggest that the number of smokers across the world has reduced. This, in some percentage, is caused by the availability of smoking cessation products in the market. Today, people all over the world have become increasingly aware of how tobacco addiction can lead to a number of serious health problems. The process of discontinuing tobacco smoking is called smoking cessation. This process has certain withdrawal symptoms, which may include feeling hungrier than usual, having trouble thinking, craving for tobacco products, and feeling irritable, anxious and angry. Based on the survey presented by the Centre for Disease Control and Prevention in 2010, approximately 7 out of every 10 adult cigarette smokers wish to quit smoking completely.
Innovative research and efficacy to drive the market growth The invention of electronic cigarettes in the past decade has led to the growth of global smoking cessation and nicotine de-addiction products market. It has become a popular product among many ex-smokers and the market for it is expected to grow at a fast rate in the upcoming years. Nicotine gums and Nicotine lozenges lead the nicotine replacement therapy market. Constant research and development in this sector have improved the efficacy of these products, providing better opportunities for the growth of this market. The smoking cessation industry is gradually being explored in the developing economies, which is expected to expand the market further in the coming years. Some of the major driving factors in the market are increasing the number of collaborations and partnerships, a growing number of merger and acquisitions, and a growing number of product launches. Government initiatives to spread awareness regarding the problems of smoking Smoking has become a societal habit, especially among urban youth. Social welfare organizations have decided to address this problem by urging smokers to quit smoking with the help of smoking cessation products. According to a recent global smoking cessation products market analysis, stringent laws for smoking such as the ban on smoking in public place, increasing government initiatives of distributing smoking cessation products and higher taxes on tobacco products are creating a positive impact on the industry. Moreover, awareness programmes on smoking health hazards, increasing incidence of lung cancer and other diseases such as cardiac diseases and respiratory disorders due to smoking are also fuelling the growth of the global market. However, a majority of smokers are reluctant about adopting smoking cessation products. Adding to this, strict regulatory requirements for electronic cigarette as a medical device, restrictions on the usage of electronic cigarette are some of the challenges faced by this market. Once people become more aware of nicotine de-addiction products, the market is sure to expand.
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