FELTON, Calif., May 11, 2021 /PRNewswire/ — The global Handheld Marijuana Vaporizer Market size is expected to reach USD 15.77 billion by 2028, registering a CAGR of 6.0% over the forecast period, according to a new report by Million Insights.
What are Key Factors Driving the Handheld Marijuana Vaporizer Market Growth?
The rising consumption of marijuana to cure neurological and mental disorders is driving the market growth globally. It is the best anti-depressants available in the market. Since the legalization of marijuana, the healthcare industry prescribes small dosages of cannabis to treat various mental disorders. In addition, the rising demand for compact and effective vaporizers is boosting the market growth.
The conduction vaporizers segment is expected to registe3r the fastest CAGR of 6.2% from 2021 to 2028. Cannabis vaping is considered the modern trend in cannabis production, thereby increasing the demand for conduction vaporizers. It is regarded as nontoxic, which gives an advantage over marijuana smoking. In addition, the use of conduction vaporizers provides a stronger effect than conventional smoking.
North America dominated the global market with a revenue share of more than 56% in 2020. The rising demand for the legalization of recreational marijuana has led to market growth in this region. Canada has already legalized their recreational use, which will boost the market growth. In 2018, Canada legalized the usage of cannabis for recreational purposes. It is the second country to legalize marijuana. Due to its legalization, nearby 330,000 Canadians are listed to take cannabis from licensed manufacturers.
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Various market players are focusing on increasing the supply and production of cannabis devices for various medical purposes. For example, medicinal vape pens are key innovations in the global market. It helps cure a common cold. The healthcare providers mostly recommend medicinal marijuana vaporizers to patients to reduce the health risk. With medicinal vaporizers, patients can minimize the intake of respiratory irritants, toxins, and carcinogens.
Key Questions Answered In The Handheld Marijuana Vaporizer Market Report:
- Why Growth Rate of Handheld Marijuana Vaporizer Market in Asia Pacific is the Fastest?
Asia Pacific is expected to register the fastest growth of 6.7% CAGR from 2021 to 2028 owing to the growing awareness about the benefits of using cannabis for medical purposes.
- What Makes the Convection Vaporizer Segment to Register the Second Fastest CAGR by 2028?
The convection vaporizer segment is expected to register the second fastest CAGR over the forecast period owing to the low price, portable size, and instant heating capability of these devices.
- Which Region Dominated the Handheld Marijuana Vaporizer Market Share in 2020?
North America dominated the global market with a share of more than 56% in 2020 due to product legalization in countries, such as the U.S. and Canada.
- Why the Offline Distribution Channel of the Handheld Marijuana Vaporizer Holds the Largest Market Share in 2020?
The offline distribution channel held the largest market share in 2020 and accounted for more than 50% of the total revenue due to the easy availability of the product through these distribution channels.
Browse 85 page research report with TOC on “Global Handheld Marijuana Vaporizer Market” at: https://www.millioninsights.com/industry-reports/global-handheld-marijuana-vaporizer-market
Million Insights has segmented the global handheld marijuana vaporizer market on the basis of product, charger type, temperature control, distribution channel, and region:
- Handheld Marijuana Vaporizer Product Outlook (Revenue, USD Million, 2017 – 2028)
- Handheld Marijuana Vaporizer Charger Type Outlook (Revenue, USD Million, 2017 – 2028)
- Handheld Marijuana Vaporizer Temperature Control Outlook (Revenue, USD Million, 2017 – 2028)
- Handheld Marijuana Vaporizer Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
- Handheld Marijuana Vaporizer Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- List of Key Players of Handheld Marijuana Vaporizer Market
- Storz & Bickel GmbH & Co.
- Ghost Herbal Concepts Ltd.
- PAX Labs, Inc.
- Planet of the Vapes
- Boundless CF/CFX
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SOURCE Million Insights