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.
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.
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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.
A unique research methodology is utilized by TMR to conduct comprehensive research on the growth of the handheld marijuana vaporizer market, and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the production of the handheld marijuana vaporizer market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the handheld marijuana vaporizer market, as a primary resource.
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These primary and secondary resources provided exclusive information during interviews, which serves as a validation from handheld marijuana vaporizer industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the handheld marijuana vaporizer market with accuracy. The study also uses a top-down approach to assess the numbers for each segment, and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the handheld marijuana vaporizer market more reliable and accurate.