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Kalorama Finds Demand for Smoking Cessation Drugs Still Strong Despite Chantix' Safety Issues
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NEW YORK, NY -- (Marketwire) -- 11/19/08 -- With approximately 1.4 billion peopleworldwide addicted to nicotine and more than 5 million resulting deathseach year, there is a major global need for smoking cessations products, aswell as education and awareness measures to reduce the number of smokers. Anew report from Kalorama Information, "Smoking Cessation: World Markets,"finds a 32.6% increase in sales of smoking cessation products from 2006 to2007, due in large part to the approval of Pfizer's Chantix in late 2006.
The $3.1 billion smoking cessation market was composed of approximately36.8% prescription sales and 63.2% OTC drugs in 2007. This compared to 2005when prescription sales accounted for just 12.5% of total sales. Theincrease in prescription sales is solely attributed to the approval andmarketing of Pfizer's Chantix in late 2006, which skyrocketed theprescription segment from $385 million in 2006 to $1.16 billion in 2007.However, it appears there may be an association between Chantix and seriousneuropsychiatric symptoms, which has prompted Pfizer at the request of theFDA to add a stronger warning on the label.
"The overwhelming initial response to Chantix is evidence of an underservedmarket for prescription smoking cessation and a strong demand for effectivetreatments to assist in smoking cessation," notes Kalorama Informationanalyst, Melissa Elder. "Despite consumer demand, the prescription productpipeline is lagging, with no new approval expected before 2011."
Only a handful of companies are involved in this market and even fewer holdsignificant market positions. Due to minimal competition and the lack ofnew product approvals on the horizon, Pfizer will likely remain the leadingcompetitor throughout the forecast period, despite a significant drop insales for Chantix following the reports of safety concerns.
Kalorama Information's report "Smoking Cessation: World Markets," is acomprehensive guide providing detailed analysis on worldwide prescriptionand OTC drug markets. The report includes smoking incidence by region,health statistics, issues affecting the market, market estimates andforecasts to 2012, competitor analysis and reviews of products in eachsegment. For further information visit:http://www.kaloramainformation.com/redirect.asp?progid=13539&productid=1646594.
About Kalorama Information
Kalorama Information supplies the latest in independent market research inthe life sciences, as well as a full range of custom research services. Weroutinely assist the media with healthcare topics.
Please direct all media inquiries to:Andrea Hillerpress@kaloramainformation.comwww.kaloramaInformation.com
"The overwhelming initial response to Chantix is evidence of an underservedmarket for prescription smoking cessation and a strong demand for effectivetreatments to assist in smoking cessation," notes Kalorama Informationanalyst, Melissa Elder. "Despite consumer demand, the prescription productpipeline is lagging, with no new approval expected before 2011."
Only a handful of companies are involved in this market and even fewer holdsignificant market positions. Due to minimal competition and the lack ofnew product approvals on the horizon, Pfizer will likely remain the leadingcompetitor throughout the forecast period, despite a significant drop insales for Chantix following the reports of safety concerns.
Kalorama Information's report "Smoking Cessation: World Markets," is acomprehensive guide providing detailed analysis on worldwide prescriptionand OTC drug markets. The report includes smoking incidence by region,health statistics, issues affecting the market, market estimates andforecasts to 2012, competitor analysis and reviews of products in eachsegment. For further information visit:http://www.kaloramainformation.com/redirect.asp?progid=13539&productid=1646594.
About Kalorama Information
Kalorama Information supplies the latest in independent market research inthe life sciences, as well as a full range of custom research services. Weroutinely assist the media with healthcare topics.
Please direct all media inquiries to:Andrea Hillerpress@kaloramainformation.comwww.kaloramaInformation.com
For more information, go to www.marketwire.com
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