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The Global Nicotine Patch market is projected to grow at a CAGR of around 7.8% during the forecast period, i.e., 2023-28.
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MARKET RESEARCH REPORT Global Nicotine Patch Market Research Report: Forecast (2023-2028) UPDATED SAMPLE 2024-30 MARKNTEL ADVISORS
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Market Insights The Global Nicotine Patch market is projected to grow at a CAGR of around 7.8% during the forecast period, i.e., 2023- 28. The major factors driving the market growth include the rising number of tobacco-addicted patients across the globe during the historical years. The factors driving the enhanced adoption of tobacco among individuals are the easy availability & accessibility of tobacco products across the regions like Asia-Pacific, North America, etc.
Market Drivers Increasing Increasing Demand for Smoking Cessation Products 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.
Market Segments By Type (24-Hour Patch [7 mg, 14 mg, 21 mg], 16-Hour Patch [10 mg, 15 mg, 25 mg]), By Distribution Channel (Online, Offline [Hospital Pharmacy, Retail Pharmacy]), By End Users (Hospitals, Rehabilitation Centers, Homecare), By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
Top Companies GlaxoSmithKline plc, Cipla Ltd, Johnson & Johnson Ltd, Sparsha Pharma International Pvt. Ltd., Dr. Reddy's Laboratories, Inc., Perrigo Company plc, Cardinal Health, CVS Health Corp., Rusan Pharma Ltd., Target Corp., Walgreens Boots Alliance Inc. Rite Aid Corp, Others
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