Market Trends of Smoking Cessation Aids Industry
Electronic Cigarettes Segment Expected to Witness Significant Growth Over the Forecast Period
Electronic cigarettes (e-cigarettes), also known as vaping devices, are electronic devices used to inhale an aerosol that typically contains nicotine, flavors, and other substances. Cartridges and disposables are the two primary types of e-cigarettes. Cartridges are reusable and designed for multiple uses. The pre-filled cartridge is often changed when it is empty. Disposables are discarded after they run out of juice or charge because they cannot be recharged or refilled.
The e-cigarette segment is expected to witness significant growth in the smoking cessation aids market over the forecast period. This is due to factors such as the growing understanding of e-cigarettes being safer than traditional cigarettes, increasing e-cigarette technologies like pod systems and squonk mods, and rising user adoption.
The use of e-cigarettes is increasing among the population, which is the key factor expected to drive the segment’s growth over the forecast period. For instance, according to the 2023 National Youth Tobacco Survey, published in November 2023, e-cigarettes continued to be the preferred tobacco product among youths, with 25.2% of middle and high school students who used them using them daily. Additionally, a significant 89.4% of students favored flavored e-cigarettes, and 25.2% used an e-cigarette daily.
According to data published by the CDC, in November 2023, about 1 out of every 22 middle school students (4.6%) reported that they had used electronic cigarettes in the past 30 days in 2023, which included 10.0% of high school students and 4.6% of middle school students. In addition, as per the same source, about 85% of those youth used flavored e-cigarettes and more than half used disposable e-cigarettes. The population's widespread adoption of e-cigarettes has boosted demand in the market. This has prompted companies to intensify their focus on innovation, propelling further growth in the segment.
Additionally, as per an article published in Tobacco Induced Diseases in October 2022, e-cigarettes were found to be superior to nicotine replacement therapy (NRT) in terms of a 7-day point abstinence rate and abstinence rate for more than six months continuously. Such factors are expected to increase the adoption of e-cigarettes among the population, propelling the segment's growth.
Furthermore, rising product launches by key players increase the availability of innovative smoking products and devices in the market, which is expected to boost the segment’s growth over the forecast period. For instance, in August 2022, SMOK launched a new SOLUS 2 Series, an upgraded version of the SOLUS series of Vaping Devices, at a global product launch event in Jakarta. It claims to provide an improved vaping experience and cost-effectiveness for vapers.
Similarly, in May 2022, Innokin Technology launched a lineup of vaporizers with water-based vaping technology with water-based juice, AQ30. Water-based vaping delivers smoother vapor and faster satisfaction than traditional vaping systems and reduces the dehydrating qualities of vapor.
Therefore, owing to the factors mentioned above, such as the high adoption of e-cigarettes and increasing product launches, the segment studied is expected to grow over the forecast period.
North America Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to witness significant growth in the market over the forecast period owing to factors such as the increasing burden of diseases associated with smoking, the growing number of favorable government initiatives, the increasing adoption of e-cigarettes and heated tobacco, and rising product launches.
The increasing adoption of e-cigarettes among the population is the key factor driving market growth. For instance, according to Statistics Canada, in October 2023, the total number of cigarettes sold increased by 15.5% to 1.2 billion from September 2023. Similarly, according to data published by the Government of Canada in March 2024, 12% of Canadians aged 25 and above reported current smoking, a significantly higher figure than the 4% reported by those aged 15-19. Smoking was more prevalent among men than women, with 13% of men reporting that they currently smoked compared with 9% of women. Hence, as cigarette consumption rises, the demand for smoking cessation aids is poised to surge, bolstering market growth.
Additionally, governments and private organizations in regional countries are creating awareness about nicotine patches and their benefits in quitting smoking, contributing to market growth. For instance, as per the Food and Drug Administration in July 2022, the smoking cessation products approved by the agency assist users in quitting and may even increase their success rates. In addition, over-the-counter nicotine replacement therapies (NRTs), including skin patches and transdermal nicotine patches, are approved for sale to people aged 18 and older.
Furthermore, increasing regional product launches and approvals are also contributing to market growth. For instance, in January 2024, Lupin Limited introduced Varenicline Tablets in 0.5 mg and 1 mg variants following approval from the United States Food and Drug Administration (FDA). These tablets, serving as the generic alternative to PF Prism CV's Chantix Tablets, are specifically designed to assist in smoking cessation.
Similarly, in May 2023, Perrigo Company PLC received final approval from the United States Food and Drug Administration for nicotine-coated mint lozenges, 2 mg and 4 mg over-the-counter (OTC). These lozenges help reduce withdrawal symptoms in consumers who are trying to quit smoking. Moreover, in September 2022, 22nd Century Group launched VLN, a low-nicotine cigarette in Colorado.
Therefore, the market studied is expected to grow over the forecast period due to the factors mentioned above, including the high adoption of smoking cessation products, increasing product launches and approvals, and growing government initiatives.
