Smokeless Tobacco Treatment Market size is anticipated to surpass of CAGR 6.8% by 2023: MRFR
Smokeless Tobacco Treatment Market Highlights:
The Global Smokeless Tobacco Treatment Market is expected to grow at an approximate CAGR of 6.8% during forecast period, 2018–2023.
Smokeless tobacco is a type of tobacco that is not smoked or burned. Like the tobacco that is smoked, smokeless tobacco is reported to cause cancer and develops addiction in the users. This tobacco is generally chewed and can be available as moist snuff, and dissolvable tobacco. Factors such as increasing adoption of nicotine patch, growing FDA drug approvals against smokeless tobacco, strong clinical pipeline, and rising consumption of smokeless tobacco drives the market growth. However, limited availability of the products, changing regulatory framework and lack of awareness for smokeless tobacco treatments restraints the market growth during the forecast period.
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The Global Smokeless Tobacco Treatment Market is segmented based on type, treatment, end user and region.
The Global Smokeless Tobacco Treatment Market, by type is segmented into chewing tobacco, snuff/dipping tobacco, dissolvable tobacco. The market by treatment segment is divided into nicotine replacement therapy, medication, and psychological and behavioral treatments. Based on end-user, the market is segmented into hospitals & clinics, academic & research organizations, and pharmacies
In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely- the Americas, Europe, Asia-Pacific and the Middle East & African region.
The Americas dominated the global market for smokeless tobacco treatment. This can be attributed due to increasing therapeutics demands for smokeless tobacco related diseases and presence of major market players within the region. Europe stood second in 2017 owing to high consumption of smokeless tobacco within the region and changing lifestyle changes. Moreover, the presence of developed economies like UK, Germany, France, and others within the region provides a driving force for the market to grow. Asia Pacific was projected to be the fastest growing region in 2017. Factors such as growing healthcare sector, increasing penetration of the market players within the region, and increasing government’s support for foreign investments drives the regional markets of the Asia Pacific region. On the other hand, the Middle East and Africa held least share in the global smokeless tobacco treatment market due to the presence of poor economies and low per capita income, especially within the African region. The Middle Eastern region is estimated to be a major market for the Middle East and African region.
Some of the key players in the global smokeless tobacco treatment market are Pfizer Inc., GlaxoSmithKline plc., Johnson & Johnson Services Inc., Novartis, Cigna, Yesmoke, Habitrol, Perrigo Co. Plc., Cambrex Corporation, Fertin Pharma, Veracyte, Inc. and others.
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