LONDON--(BUSINESS WIRE)--The global tobacco alternative gums market size is expected to grow by USD 660.60 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 6%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on "Tobacco Alternative Gums Market Analysis Report by Type (2-mg nicotine gum and 4-mg nicotine gum) and Geography (North America, Europe, APAC, MEA, and South America), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/tobacco-alternative-gums-market-industry-analysis
The market is driven by the increasing demand for nicotine gum in smoking cessation therapy. In addition, the rising price of cigarettes is anticipated to boost the growth of the Tobacco Alternative Gums Market.
The increasing demand for nicotine gum in smoking cessation therapy will drive the growth of the market during the forecast period. Smoking cessation refers to the process of discontinuing tobacco smoking. This therapy involves the use of nicotine gum as a replacement for cigarettes to help smokers gradually reduce the amount of nicotine consumed daily. Nicotine gum provides fast relief from irritability, including mood swings and distractions, and reduces the urge to smoke. It reduces inconveniences that may occur during smoking cessation therapy. Thus, the advantages of nicotine replacement therapy, coupled with the easy availability of nicotine gums, are expected to drive the growth of the global tobacco alternative gums market during the forecast period.
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Major Five Tobacco Alternative Gums Companies:
Alchem International Pvt. Ltd.
Alchem International Pvt. Ltd. has business operations under various segments such as pharmaceutical actives, cosmeceutical actives, and nutraceutical actives. The company offers natural nicotine and nicotine complexes for nicotine gums.
Cambrex Corp.
Cambrex Corp. engages in the manufacture of different drug substances and drug products, and also analytical services across the entire drug lifecycle. The company offers Nicotine Polacrilex, a substance for nicotine gums.
Cipla Inc.
Cipla Inc. operates its business through two segments: pharmaceuticals and new ventures. The company offers Nicotex Nicotine Gum.
Dr. Reddys Laboratories Ltd.
Dr. Reddys Laboratories Ltd. has business operations under three segments: global generics, pharmaceutical services and active ingredients, and proprietary products. The company offers Habitrol Nicotine Gum.
GlaxoSmithKline Plc
GlaxoSmithKline Plc operates its business through three segments: pharmaceuticals, consumer healthcare, and vaccines. The company offers Nicorette, a nicotine replacement therapy gum.
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Tobacco Alternative Gums Market Type Outlook (Revenue, USD mn, 2020-2024)
- 2-mg nicotine gum - size and forecast 2019-2024
- 4-mg nicotine gum - size and forecast 2019-2024
Tobacco Alternative Gums Market Regional Outlook (Revenue, USD mn, 2020-2024)
- North America - size and forecast 2019-2024
- Europe - size and forecast 2019-2024
- APAC - size and forecast 2019-2024
- MEA - size and forecast 2019-2024
- South America - size and forecast 2019-2024
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