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The Cannabis Inhaler Market is expected to grow at a 9.49 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the report:
- The advent of the cannabis inhaler market is the cause of regulatory changes, technological advancements, changing consumer preferences, and increasing acceptance.
- The increasing demand for smoke-free alternatives is expected to drive industry growth.
- North America dominated the market and accounted for a global revenue share in 2023.
- One of the significant concerns constraining industry growth is the need for healthcare provider knowledge & lack of public faith.
Cannabinoids are natural compounds present in Cannabis sativa plants. Aside from the health hazards associated with cannabis consumption, limited and well-monitored amounts of these cannabinoids may help with respiratory disorders such as Asthma and COPD. This is due to this psychoactive substance's bronchodilation characteristics. Asthma-like inhalers emit a mist containing cannabis and terpenes. These inhaled chemicals immediately enter the lungs' alveoli and spread throughout the body via the bloodstream. Owing to this and the medicinal benefits of cannabis, medical uses of these inhalers are being researched and developed, driving market growth. Demand for these inhalers is projected to rise in the long run as medical use of psychoactive substances becomes more acceptable worldwide. Various recreational applications are benefiting from this.
The changing regulatory picture will drive this sector forward in the future. Compared to cigarettes, cannabis vaporizers are considered a safer, healthier, and less dangerous option. Compared to smoking, using a vaporizer offers a more pleasant experience, and many medical professionals advise it as one of the safest ways to consume cannabis. This would probably encourage the growth of the cannabis vaporizer sector globally. Additionally, users prefer to ingest cannabis through a vaporizer rather than smoking since it avoids cigarette chemicals, carcinogens, and respiratory irritants. This aspect raises the market's desire for cannabis vaporizers even more.
Since more patients are now looking for alternatives to smoking, the popularity of vaporization is also anticipated to impact market dynamics in the upcoming years. As they grow more dependable, affordable, and portable, medicinal cannabis vaping devices are becoming more and more popular. However, the lack of information regarding the long-term safety of cannabis used medicinally may limit the cannabis inhaler market's profit margins. Since there was a supply of fake drugs during the COVID-19 outbreak, public confidence in the medical community was damaged, which had a negative impact on sales of cannabis inhalers.
Market Segmentation:
Cannabis Inhaler Market includes three main segments, type, application and end-users. By Type, the market is categorized into Cannabigerol (CBG), Tetrahydrocannabivarinic (THCV), Cannabidiol (CBD), and Tetrahydrocannabinol (THC). The Application segment comprises Sleep Disorders, Stress & Anxiety, Chronic Pain Management, Asthma, and Others. According to the End-User segment, the market includes Hospitals, Retail Pharmacies, and Specialized Health Centers.
Based On The Application, The Asthma Segment Category Is Accounted As A Significant Contributor To The Cannabis Inhaler Market.
The asthma segment category dominated the market in 2021. It can enlarge and inflame airways, making asthma a potentially severe lung condition. It may cause wheezing, chest tightness, and shortness of breath. Bronchodilators can loosen the muscles constricting the airways, easing some asthmatic symptoms. A minor case of asthma could not even interfere with daily activities. It might occasionally result in a life-threatening assault.
The North American Cannabis Inhaler Market Holds A Signification Revenue Share.
The North American cannabis inhaler market is expected to register the highest market share. Cannabis is prohibited because, if not used responsibly, it could lead to long-term consequences, including addiction. Federal legislation still forbids the purchase and use of cannabis in the US. However, on a state level, 36 US states have enacted legislation allowing the controlled use of cannabis for medical and recreational purposes. This is a crucial step in legalizing cannabis and will boost demand for cannabis inhalers in the US. In addition, Europe is projected to proliferate in the global cannabis inhaler market. Only licensed medical professionals may permit the patient to receive cannabis in the UK, Germany, and Cyprus because these countries have recognized marijuana as a prescription drug. This ensures patient safety and makes it simpler to identify the people who should be subject to legal action for cannabis sales. While countries like Sweden, Latvia, Belgium, and others have outright banned this chemical, making it illegal to import, purchase, or sell cannabis legally. This variant demonstrates how marijuana is only partially accepted in Europe. Europe is the second-largest market for cannabis inhalers; however, other European nations have highly stringent regulations and conditions.
Competitive Landscape
Some major key players in the Cannabis Inhaler Market:
- CBD Luxe,
- Fairwinds cannabis,
- H and T presspart manufacturing LTD.,
- Koi CBD,
- MUV
- Vectura Group plc.
Cannabis Inhaler Market Report Scope
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 9.49 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, Application and End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
CBD Luxe, Fairwinds cannabis, H and T presspart manufacturing LTD., Koi CBD, MUV and Vectura Group plc. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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