Pune, India -- (SBWIRE) -- 12/13/2018 -- Market Analysis:
The global nicotine gum market is anticipated to grow at a CAGR of 3.01% and attain USD 5986 by the end of the forecast period of 2017–2022, as per a research report by Market Research Future (MRFR). The nicotine gum market has been growing steadily on account of the rising popularity of smoking cessation therapy. Smoking and nicotine addiction has become a significant cause of cancer incidences across the globe which has prompted consumers to take up smoking cessation therapy. Nicotine gum aids the nicotine replacement therapy, a part of smoking cessation and thus helps in market expansion. Nicotine gum also helps to address the problem of nicotine withdrawal symptoms by delivering nicotine into the bloodstream via the tissues of the mouth. Increase in awareness about the health hazards associated with tobacco consumption coupled with growing awareness about smoking cessation therapies has resulted in an elevated demand for nicotine gums.

The manufacturers of nicotine gums are coming up with novel flavors to tap the consumer market which is further boosting the market growth. Developments of newer varieties of nicotine gums which are significantly effective in increasing the success rate of smoking abstinence by providing much more speedy therapeutic effects have also supported the growth of the market. Nicotine gums are available over the counter and at an affordable price which further drives the market growth. Regardless of its benefits, nicotine gums are associated with side effects such as increased heart rate, increased blood pressure, nausea, indigestion, dental pain, heart burn, hiccups, oral irritation, etc., which is likely to impede the market growth. The market growth might also be hindered by concerns of regulatory bodies such as FDA about the misuse or abuse of nicotine gums, especially by adolescents. Substitutes and alternative therapies might also threaten the market growth.

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Top Key Players Review:
The global nicotine gum market is highly competitive characterized by the presence of a few key players dominating the market. The key players are competing on the basis of product, flavors, and innovation to gain a competitive edge over the market. Notable players of the region include Novartis Consumer Health Inc, Pfizer Inc., GlaxoSmithKline Plc., Cambrex Corporation, Perrigo Co. Plc., Fertin Pharma, Johnson & Johnson, and Reynolds American.     

Industry Updates:
Researchers from the US have developed a novel nicotine gum by combining it with an existing medication which could be used to treat dry mouth or addiction to betel quid. The gum not only deals with nicotine addiction but also frees consumers from consuming caustic lime found in betel quid.
In May 2018, a US based company Lil' Drug Store Products Inc. introduced nicotine gums to its product portfolio of health and wellness brand to make nicotine gum widely available in convenience stores.
Segmentation:

The global nicotine gum market has been segmented based on type which is segmented into 2 mg, 4 mg, and 6 mg dosage forms. The 2mg segment held the largest share of the market in 2015 and is anticipated to grow at a CAGR of 3.35% over the forecast period. The 2mg dose is aimed at consumers who smoke lower than 25 cigarettes a day. The other dosage segments are also expected to exhibit increased growth over the forecast period.

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Regional Analysis:
The key markets of the global nicotine gum market include North America, Europe, and Asia Pacific. North America leads the global market and is projected to grow at a CAGR of 2.66% over the forecast period. North America is followed by Europe and is an essential market for nicotine gum exports. It is anticipated that North America and Europe will witness a decline in the 2mg nicotine market segment by the end of the forecast period. Asia Pacific is slated to emerge as a new target market.