Nicotine Patch Market Report 2018 - Growth, Trends and Forecast to 2025

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26th October: Global Nicotine Patch Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are rising enormously across the globe. A nicotine patch is a product used for nicotine replacement therapy (NRT). These transdermal patches are exclusively used for smoking cessation. This patch is stick on the body, where nicotine is released from the patch and is absorbed by the skin. Released nicotine binds to nicotine receptors in the body, by reducing craving and symptoms related to smoking cessation. It helps people stop smoking cigarettes. The nicotine patches such as NicoDerm CQ are used.

The factors that are playing a major role in the growth of Nicotine Patch Market are rising awareness amongst population regarding smoking health hazard and increasing research and development. On the other hand, the factor that is restraining overall market growth is side effects of the nicotine patch. This market is segmented based on product types, applications, and region. Product types such as 24-hour Patches, 16-hour Patches, and others classify the industry. End users into Female and Male classify Nicotine Patch Market. Applications into Smoking Cessation and others classify Nicotine Patch Industry.
Nicotine Patch Industry is segmented geographically Americas (North America, Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, North America accounts for the largest market share of Nicotine Patch Industry and is estimated to lead the overall market in the upcoming years. Europe and Asia Pacific follow suit. On the other hand, Asia Pacific is estimated to grow at fastest pace in the upcoming years. The reason being, rising awareness among population regarding side effects and diseases caused by smoking, developing healthcare infrastructure, and increasing government initiative by making new policies.
The key players of Nicotine Patch Market are Habitrol, GlaxoSmithKline plc., Yesmoke, McNeil (Johnson & Johnson), The Harvard Drug Group LLC., Revolymer, Novartis AG, Wal-Mart Stores Inc., Target Corp., Walgreen Co., and Cigna. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

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