Drug Price Trends for SM NICOTINE

Average Pharmacy Cost for SM NICOTINE

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
SM NICOTINE 2 MG CHEWING GUM	49348-0573-08	0.23486	EACH	2025-06-18
SM NICOTINE 2 MG CHEWING GUM	49348-0573-36	0.23486	EACH	2025-06-18
SM NICOTINE 14 MG/24HR PATCH	70677-0031-01	1.55889	EACH	2025-06-18

Market Analysis and Price Projections for Smoking Cessation and Nicotine De-Addiction Products

Last updated: January 4, 2025

Introduction

The market for smoking cessation and nicotine de-addiction products is experiencing significant growth, driven by increasing health awareness, government initiatives, and innovative products. Here, we will delve into the market analysis, key segments, and price projections for these products.

Market Size and Growth

The global smoking cessation and nicotine de-addiction products market was valued at $20 billion in 2021 and is projected to reach $54.7 billion by 2031, growing at a CAGR of 10.6% during the forecast period[1].

Segment Review

By Product Type

The market is segmented into nicotine replacement therapy (NRT) products, drug therapy, and e-cigarettes. E-cigarettes dominated the market in 2021 and are expected to continue growing at a high CAGR. However, NRT products are anticipated to grow at the highest CAGR during the forecast period[1].

By Form

The market is divided into gum, inhaler, tablet, and others. Nicotine gum generated the maximum revenue in 2021 and is expected to be the fastest-growing segment, driven by the rise in demand for NRT products and increasing awareness about quitting smoking[1].

Regional Analysis

The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). North America was the largest regional market in 2021, while the Asia-Pacific region is expected to grow at the highest rate during the forecast period[1].

Key Market Drivers

• Government Initiatives and Anti-Smoking Campaigns: Various government initiatives and anti-smoking campaigns have significantly increased the demand for smoking cessation products.
• Health Awareness: Rising awareness about the diseases related to smoking has led to a larger shift of smokers towards smoking cessation products.
• Innovations and Investments: Top market players are investing heavily in the development and discovery of advanced smoking cessation products, attracting more users, especially among the youth[1].

Nicotine Gum Market

The global nicotine gum market, a subset of the NRT segment, was valued at $1.63 billion in 2023 and is projected to grow to $2.55 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period. North America, particularly the U.S., dominates this market, driven by health-conscious consumers and the presence of significant brands[3].

E-Cigarettes and Other Products

E-cigarettes have seen significant growth and are expected to continue dominating the market. Other products like nicotine pouches are also gaining traction, with sales increasing substantially from 2019 to 2022. Nicotine pouches with various nicotine concentration levels, such as 6 mg, 4 mg, and 3 mg, are among the most commonly sold products[4].

Impact of COVID-19

The COVID-19 pandemic had a mixed impact on the market. While there was a decline in demand across all regions in 2020 compared to pre-pandemic levels, the market has since recovered and is showing strong growth driven by increased health awareness and government initiatives[3].

Key Market Players

Major players in the smoking cessation and nicotine de-addiction products market include Rusan Pharma Ltd, Perrigo Company Plc., Dr. Reddy’s Laboratories Ltd., Njoy Company, Cipla Ltd., GlaxoSmithKline Plc., British American Tobacco Plc, Imperial Brands Plc., Johnson and Johnson Inc, Zydus Cadila, Inc., Pfizer Inc., and 22nd Century group Inc.[1].

Price Projections

Given the strong growth projections, the prices of smoking cessation and nicotine de-addiction products are expected to remain competitive but may increase slightly due to the introduction of advanced and innovative products. Here are some key price projections:

• Global Market: Expected to reach $54.7 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031[1].
• Nicotine Gum Market: Projected to grow from $1.70 billion in 2024 to $2.55 billion by 2032, with a CAGR of 5.1% during the forecast period[3].

Consumer Trends and Preferences

Consumers are increasingly opting for products that are convenient and effective. Nicotine gum, for instance, remains popular due to its ease of use and availability in various nicotine concentrations. E-cigarettes, especially among the youth, are also gaining popularity due to their perceived safety and variety of flavors.

Regulatory Environment

Government regulations play a crucial role in the market. For example, in the UK, the license for some nicotine replacement therapies has been extended to allow longer-term use, facilitating the increase in sales of cessation products[1].

Key Takeaways

• The global smoking cessation and nicotine de-addiction products market is projected to reach $54.7 billion by 2031.
• E-cigarettes and NRT products are key segments driving market growth.
• North America is the largest regional market, but Asia-Pacific is expected to grow at the highest rate.
• Government initiatives and health awareness are significant drivers of market growth.
• The nicotine gum market is expected to grow at a CAGR of 5.1% from 2024 to 2032.

FAQs

1. What is the projected size of the global smoking cessation and nicotine de-addiction products market by 2031? The global smoking cessation and nicotine de-addiction products market is projected to reach $54.7 billion by 2031[1].

2. Which segment dominated the market in 2021? E-cigarettes dominated the market in 2021, but NRT products are expected to grow at the highest CAGR during the forecast period[1].

3. What is the growth rate of the nicotine gum market from 2024 to 2032? The nicotine gum market is expected to grow at a CAGR of 5.1% from 2024 to 2032[3].

4. Which region is expected to grow at the highest rate during the forecast period? The Asia-Pacific region is expected to grow at the highest rate during the forecast period[1].

5. How have government initiatives impacted the market? Government initiatives and anti-smoking campaigns have significantly increased the demand for smoking cessation products, driving market growth[1].

Cited Sources:

1. Allied Market Research - Smoking Cessation and Nicotine De-Addiction Products Market
2. MarketBeat - SM Energy (SM) Stock Forecast and Price Target 2025
3. Fortune Business Insights - Nicotine Gum Market Size, Growth | Industry Report [2032]
4. JAMA Network - Nicotine Pouch Sales Trends in the US by Volume[4]