| Kalorama Finds Demand for Smoking Cessation Drugs Still Strong ...
Found: Sat Nov 22 03:32:27 2008 PST
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Kalorama Finds Demand for Smoking Cessation Drugs Still Strong ... PR-CANADA.net - Kalorama Finds Demand for Smoking Cessation Drugs Still Strong Despite Chantix' Safety Issues
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Saturday, 22 November 2008
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Kalorama Finds Demand for Smoking Cessation Drugs Still Strong Despite Chantix' Safety Issues
Posted by marin2008
Saturday, 22 November 2008
With approximately 1.4 billion people worldwide addicted to nicotine and more than 5 million resulting deaths each year, there is a major global need for smoking cessations products, as well as education and awareness measures to reduce the number of smokers. A new report from Kalorama Information, "Smoking Cessation: World Markets," finds a 32.6% increase in sales of smoking cessation products from 2006 to 2007, due in large part to the approval of Pfizer's Chantix in late 2006.
The $3.1 billion smoking cessation market was composed of approximately 36.8% prescription sales and 63.2% OTC drugs in 2007. This compared to 2005 when prescription sales accounted for just 12.5% of total sales. The increase in prescription sales is solely attributed to the approval and marketing of Pfizer's Chantix in late 2006, which skyrocketed the prescription segment from $385 million in 2006 to $1.16 billion in 2007. However, it appears there may be an association between Chantix and serious neuropsychiatric symptoms, which has prompted Pfizer at the request of the FDA to add a stronger warning on the label.
"The overwhelming initial response to Chantix is evidence of an underserved market for prescription smoking cessation and a strong demand for effective treatments to assist in smoking cessation," notes Kalorama Information analyst, Melissa Elder. "Despite consumer demand, the prescription product pipeline is lagging, with no new approval expected before 2011."
Only a handful of companies are involved in this market and even fewer hold significant market positions. Due to minimal competition and the lack of new product approvals on the horizon, Pfizer will likely remain the leading competitor throughout the forecast period, despite a significant drop in sales for Chantix following the reports of safety concerns.
About Kalorama Information
Kalorama Information supplies the latest in independent market research in the life sciences, as well as a full range of custom research services. We routinely assist the media with healthcare topics.
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