Handheld Marijuana Vaporizer Market Market Growth With Worldwide Industry Analysis To 2019 - 2027

 

Strategic Partnerships Help in Easy and Cost-efficient Licensing of Cannabis

Marijuana vaporizers have a reputation as being a healthier alternative than smoking, and vaping CBD (Cannabidiol) oil can help quit smoking. With increasing legalizations in countries such as the U.S., handheld marijuana vaporizers are being developed into effective medicinal devices, more than simply a healthier alternative for patients. The handheld marijuana vaporizer market is projected to reach a valuation of ~US$ 25.7 Bn by the year 2027.

Off late, strategic partnerships are taking place in the handheld marijuana vaporizer market. Key players operating in the handheld marijuana vaporizer market are acquiring pharmaceutical companies to facilitate easy imports of THC (Tetrahydrocannabinol) and CBD concentrates to produce cannabis oil, which can act as a helpful resource in various medicinal applications. For instance, in December 2018, Aurora Cannabis — a Canadian licensed cannabis producer, announced the takeover of Farmacias Magistrales — a Mexican pharmaceutical company, to acquire the necessary licensing, facilities, and permission to import raw THC material, and produce medicinal cannabis products.

Thus, acquiring licensing through pharmaceutical companies works as a cost-efficient and easy method for market players to manufacture, store, and distribute cannabis products in the handheld marijuana vaporizer market.

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Novel Innovations in Handheld Marijuana Vaporizers Fruitful for Healthcare Industry

Market players are aiming to expand the production and supply of cannabis products through product innovations for various medical applications. Medicinal marijuana vape pens are one of the key juggernauts to drive innovation in the handheld marijuana vaporizer market space. Novel innovations such as CBD vape pens help cure common cold.

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Healthcare providers recommend medicinal marijuana patients to use vaporizers to reduce health risks. By inhaling marijuana through vaporizers, patients can minimize the intake of carcinogens, respiratory irritants, and toxins. Since handheld marijuana vaporizer aid the faster healing of various medical conditions, manufacturers must create increased awareness about the health benefits of using these vaporizers.

Marijuana vaporizers provide a better delivery system as compared to ingesting cannabis through smoking or edible products. Handheld marijuana vaporizers are also replacing needles for those people who suffer from trypanophobia (fear associated with medical procedures involving needles). Healthcare providers opine that, inhaling marijuana through vaporizers provides faster relief to patients as compared to doses injected through needles. Proven convenience and effective treatment solutions for patients makes it important for manufacturers to produce improved delivery products.

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Conduction or Convection Vaporizers: Which are Better?

Conduction vaporizers are dominating the handheld marijuana vaporizer market with a share of ~85% as against convection vaporizers. Convection vaporizers provide various benefits such as even heating of marijuana, delivery of better flavor, and temperature control to avoid the herbs from getting burnt. Conduction vaporizers also provide ease of usage for patients, and are comparatively cheaper than convection vaporizers, besides heating the herbs much faster.

Although conduction vaporizers are estimated to experience exponential incremental growth during the forecast period, certain drawbacks act as restraints for market growth. Overheating is one of the problems encountered by patients that use conduction vaporizers. Convection vaporizers may be expensive as compared to conduction vaporizers, but the added cost relates to their premium quality and long-term durability. However, convection vaporizers require regular maintenance and additional costs for customization to reduce the risks of breakdown.

Although the handheld marijuana vaporizer market is highly fragmented, established and emerging market players need to create awareness about finely grinding the herbs for the better usage of convection and conduction vaporizers, and offer improved vaporizers that overcome such limitations.

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