Report ID: UCMIG35I2114
Report ID:
UCMIG35I2114 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market size for nicotine replacement therapy was USD 44.2 billion, and it is expected to grow at a compound annual growth rate (CAGR) of 16.3% from 2021 to 2028. The growth of the market can be attributed to the increasing number of people undergoing nicotine replacement therapy (NRT) and the growing number of technological advancements. NRT is a popular method used to help people quit smoking by providing a low dose of nicotine without the harmful effects of tobacco smoke. The increasing awareness about the harmful effects of smoking, along with the rising number of government initiatives to control tobacco consumption, is also expected to drive the growth of the NRT market. As a result, the global NRT market is expected to experience significant growth in the coming years
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Pharmaceuticals by segment aggregation, the contribution of the Pharmaceuticals in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG35I2114