The Australia Nicotine Replacement Therapy Market size is projected to reach USD 226.74 million by 2030, and is anticipated to register a CAGR of 4.10% from 2024 to 2030, according to a new study by Grand View Research, Inc. Increasing emphasis on smoking cessation programs coupled with growing awareness about the ill effects of tobacco consumption are expected to fuel the market growth during the forecast period.
Smoking
cessation laws and campaigns are also playing a crucial role in increasing
awareness about diseases caused due to smoking. For instance, in September
2023, the Australian Government introduced tobacco control legislation in the
parliament to fight against nicotine and tobacco addiction. In addition, global
organizations such as the World Health Organization are also working toward
creating awareness by running online campaigns. Public health campaigns employ
powerful imagery and real-life stories to vividly convey the health risks
associated with smoking. Healthcare professionals play a pivotal role by discussing
the links between smoking and severe illnesses with patients. Schools integrate
anti-smoking messages into their curricula, emphasizing the impact of smoking
on health, social life, and future prospects.
Furthermore,
according to a study published by the Australian Institute of Health and
Welfare in 2023, people aged 40 years and above are likely to smoke 20+
cigarettes per day in the country. However, after understanding its negative
impact on health, people are opting for cessation therapies. For instance,
according to a study published by the government of Australia in 2023, the
volume of cigarettes consumed in 2023 was much less than in 2017. Australia
increasingly emphasized smoking cessation as a significant public health
priority. The country recognizes the profound impact of tobacco use on
individual health & the broader healthcare system. As part of its
commitment to reducing smoking rates, Australia has implemented a multifaceted
approach.
However,
a stringent regulatory framework for the sale and marketing of NRT products is
expected to act as a restraint to the market. The use of e-cigarettes is highly
regulated and restricted for certain applications. For instance, the
utilization of e-cigarettes containing nicotine requires a mandatory
prescription. Australia's regulatory stance on nicotine-containing products has
undergone changes and adjustments to achieve a balance for promoting harm
reduction & addressing public health concerns. The regulations aim to
provide clarity and accountability while also acknowledging the potential
benefits of harm-reduction strategies for smokers.
List
of Key Players in the Australia Nicotine Replacement Therapy Market
- Philip Morris
Products S.A. (Altria Group)
- British
American Tobacco p.l.c.
- Haleon Group
of Companies
- Johnson &
Johnson
- Liber
Pharmaceuticals Pty Ltd
- Alphapharm
Pty Limited
- Perrigo
Company plc
- Amcal
- GSK plc
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summary: Australia Nicotine Replacement Therapy Market Report
Australia
Nicotine Replacement Therapy Market Report Highlights
- Based on
product, the nicotine replacement therapy segment held the
largest revenue share in 2023 owing to the lucrative subsidies, product
availability, and innovative products. Furthermore, industry developments
such as distribution agreements are also projected to offer a favorable
environment for segment growth
- Based on
distribution channel, the offline segment dominated the market in 2023.
Substantial emphasis of the people to get advice about nicotine
replacement therapy products and buying convenience are estimated to drive
offline segment growth during the forecast period
- The online
distribution channel segment in the Australia NRT market is expected to
witness considerable growth due to consumer preferences, user-friendly
platforms, faster shipping, and optimum prices
Australia
Nicotine Replacement Therapy Market Segmentation
Grand
View Research has segmented the Australia nicotine replacement therapy market
based on product and distribution channel:
Product
Outlook (Revenue, USD Million, 2018 - 2030)
- Nicotine
Replacement Therapy
- Inhalers
- Gum
- Transdermal
Patches
- Sublingual
Tablets
- Lozenges
- Others
- E-Cigarettes
- Heat-not burn
Tobacco Products
Distribution
Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Online
- Offline
- Hospital
Pharmacies
- Retail
Pharmacies
- Others
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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