While in the past smoking cigarettes emerged as something ‘cool’, at times relating to class, these days people are becoming more and more aware about the presence of toxic substances in cigarettes. Smoking cigarettes causes immense harm to the body, causes several diseases, and decreases the health of smokers in general.
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According to the Centers for Disease Control and Prevention, more than 480,000 deaths are caused each year in the U.S. In addition to this, smoking causes of 90% of all lung cancer deaths. Because of these factors, people are increasingly moving towards which will let them quit the habit of smoking.One of the solutions is the development of e-cigarette, which can potentially benefit adult smokers if it is utilized as a complete substitute for regular cigarettes and other smoked tobacco products.
According to a P&S Intelligence report, the global e-cigarette market attained a value of $11.5 billion in 2018 and is predicted to generate a revenue of $41.7 billion by 2024, advancing at a 21.6% CAGR during the forecast period (2019-2024).
Other than the introduction of new flavors, a number of e-cigarette companies are making use of online channels and are offering promotions and discounts on the purchase of e-cigarettes.
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For example, in April 2019, Philip Morris International Inc., announced regarding the provision of insurance premiums to tobacco users who are switching toward vaping products. The aim of the plan was to offer 2.5% discount on premium plans to the buyers.