Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings.
October 1 2020
The nicotine in tobacco leads to concrete physical dependence. This can cause obnoxious withdrawal symptoms when a person tries to quit. Nicotine replacement therapy (NRT) delivers nicotine in the form of gum, patches, sprays, inhalers, or lozenges but not the other harmful chemicals in tobacco. NRT can help reduce some of the physical withdrawal symptoms so that the focus is on the psychological aspects of quitting. As per the study, using NRT can nearly double the chances of quitting smoking. It has not been studied as much for quitting smokeless tobacco, but the NRT lozenges may help. Moreover, the growing popularity of the nicotine patches across the world is driving the global nicotine patches market.
Patches come in various potency and are manufactured by several companies. There are two main types of patches that can be distinguished from one another based on their nicotine release profile. 24-hour patches come in 21mg, 14mg, and 7mg, and 16-hour patches come in 25mg, 15mg, and 10mg. Moreover, 24-hour patches are recommended for those who smoke within 30 minutes after waking up and/or who wake at night to smoke. Whereas, 16-hour patches are recommended for those who only smoke after 30 minutes of waking up. However, 16-hour patches need to be taken off before bedtime and reapplied the following morning. In both types, it is very effective in decreasing the nicotine cravings and helping the smoking quitters, which is propelling the global nicotine patches market.
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The report is a one-stop way to classify and compare the market segments and its attracting factors based on the CAGR and market share index across or beyond North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report also provides detailed segmentation, categorized by the form, category, type, end-user, distribution channel, and region in the scope of the study. The same has been covered in the region-wise share analysis of the nicotine patches market. The report centers on several key trends impacting the growth of the nicotine patches market. Some of the trends include the focus on health, fitness, etc. Moreover, the study identifies the bargaining power of suppliers, bargaining power of buyers, the threat from new entrants, threat from substitutes, and the degree of competition in the global nicotine patches market has been included in the report.
The COVID-19 pandemic is expected to have a great impression on the global market. The rising knowledge regarding the ill effects of smoking and the potential heart risks will encourage opportunities for the market. The elevated demand for nicotine patches has led to the deficiency of such products. The mounting demand for manufacturers to raise their production capacities in this crisis will further benefit the market. The increasing assumptions and concerns about the spread of the virus will boost the demand for nicotine patches. Moreover, the long-term effect of the virus will simultaneously activate cautiousness among people, which, in turn, will anticipate well for the market.
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