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On April 25, according to ResearchAndMarkets.com鈥檚 "E-cigarette Global Market Report 2020" report, in 2019, the global e-cigarette market was worth 11.73 billion U.S. dollars. It is estimated that by 2023, the market鈥檚 compound annual growth rate (CAGR) will be Reached 17%, the market value reached 21.4 billion US dollars.In June 2018, Philip Morris International Inc. (PMI), a Swiss-registered multinational cigarette and tobacco production company, entered into a strategic cooperation with Parallax Development Corp. (Parallax). The agreement focuses on the development and commercialization of an effective alternative nicotine delivery platform that takes advantage of the most advanced technology in the field of pulmonary medicine. Parallax Development Corp. is a life science development company dedicated to developing innovative and patented platforms to deliver nicotine to smokers in the safest way.

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In June 2018, Philip Morris International Inc. (PMI), a Swiss-registered multinational cigarette and tobacco production company, entered into a strategic cooperation with Parallax Development Corp. (Parallax). The agreement focuses on the development and commercialization of an effective alternative nicotine delivery platform that takes advantage of the most advanced technology in the field of pulmonary medicine. Parallax Development Corp. is a life science development company dedicated to developing innovative and patented platforms to deliver nicotine to smokers in the safest way.

The government's increasingly strict regulations on the e-cigarette ban has restricted the growth of the e-cigarette market. The report stated that many countries ban the sale and manufacture of electronic cigarettes to protect young people and children from the harmful effects and addiction of electronic cigarettes.

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In July 2017, British American Tobacco acquired Reynolds America for $49 billion. The acquisition is conducive to the stable development of British American Tobacco in high-growth emerging markets and high-margin developed markets.

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