PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1398795
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1398795
The Handheld Marijuana Medical Vaporizers Market is experiencing a remarkable growth trajectory. According to market insights by Fairfield Market Research, this thriving industry is poised to reach an impressive value of approximately US$ 33 Billion by the end of 2031, soaring from its current market size of approximately US$ 6.89 Billion.
Conduction vaporizers are taking the lead in the portable marijuana vaporizers market due to their portability, affordability, quick heating capabilities, and precise temperature control features. These vaporizers require less maintenance and offer users a stronger high compared to convection vaporizers, making them a popular choice. In 2021, conduction vaporizers accounted for over 80% of the handheld marijuana vaporizers market.
The integration of smartphones for controlling cannabis temperature is revolutionizing the market. Users seek temperature-controlled vaporizers to ensure the best taste and efficient use of concentrates, oils, and dry herbs. Digital temperature control options allow for automatic temperature settings according to user preferences, contributing to the surging popularity of temperature-regulated vaporizers.
Changing lifestyles and increased spending on leisure activities are driving the demand for marijuana vaporizers. The desire of millennials to invest in recreational activities influenced by social media is contributing to the market's growth. Additionally, the legalization of marijuana for medicinal purposes has led to increased spending on handcrafted marijuana vaporizers.
Manufacturers are responding to the growing demand for vaporizers by offering a variety of products, including session vaporizers and hybrid vaporizers that cater to different user preferences. Product innovation is a key strategy for businesses, with continuous expansion into new markets and the introduction of cutting-edge technology and design.
The competitive landscape of the portable marijuana vaporizers market is diverse, with companies employing various strategies for market dominance. Details on each competitor's financials, revenue, research and development investments, global presence, strengths and weaknesses, product offerings, and more are included in the competitive analysis.