(PharmaNewsWire.Com, August 06, 2024 ) Cannabis Inhaler Market in terms of revenue was estimated to grow with a CAGR of 9.49% from 2024 to 2031 according to a new report by Insight Ace Analytic.
Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Cannabis Inhaler market are: Clinical Research and Development Medical Legalization and Acceptance Increasing Demand for Smoke-Free Alternatives
The following are the primary obstacles to the Cannabis Inhaler market's expansion: Regulatory Challenges and Compliances Healthcare Provider Knowledge & Reduced Public Faith Limited Availability of Medical Cannabis
Future expansion opportunities for the global Cannabis Inhaler market include: Market Expansion for Medical Cannabis Innovative Inhaler Technologies
Market Analysis:
The increasing legalization of medical and recreational cannabis, growing acceptance of cannabis as a therapeutic agent, and advancements in inhaler technology are boosting this market with a focus on precise dosing, consistent effects, and smoke-free consumption. Cannabis inhalers offer a promising alternative for patients seeking symptom relief and wellness solutions. This is a reason for the significant growth of the Cannabis Inhaler market; as companies innovate to meet consumer demands, healthcare providers become more knowledgeable about cannabis therapeutics.
List of Prominent Players in the Cannabis Inhaler Market: CBD Luxe Fairwinds Cannabis, Hand T press part manufacturing LTD. Koi CBD MUV Vectura Group plc.
Recent Developments: In November 2022, Grenco Science announced the launch of G Pen Hyer, a cannabis vaporizer designed to operate with both marijuana concentrates and dried cannabis flowers. The company constantly strives to improve its product offerings in the global landscape. In November 2022, PAX Labs, Inc. announced the launch of the new line-up of PAX Mini and PAX Plus, its dry herb vaporizer devices, and the new PAX Infused Flower with a solvent-less hash for the ultimate all-natural, full-flower cannabis experience. The new products are likely to assist the company in gathering more customers and thus increase its profit margins.
Cannabis Inhaler Market Dynamics: Market Drivers: Increasing Demand for Smoke-Free Alternatives As consumers have become more health-conscious and seek smoke-free alternatives to traditional methods of cannabis consumption, like smoking, there is an increasing demand for cannabis inhalers. These Inhalers provide a convenient way to consume cannabis without any harmful effects related to smoking. This only encourages the growth of the cannabis Inhaler sector globally. Furthermore, consumers prefer to devour cannabis through an inhaler instead of smoking since it evades cigarette chemicals, carcinogens, and respiratory irritants. This aspect raises the market's desire for cannabis Inhalers even more.
Challenges: Healthcare Provider Knowledge & Reduced Public Faith Despite many advantages, some limiting constraints are projected to hamper global market expansion over the forecast period. One of the key factors contributing to the global market's slowing growth is the need for more knowledge among healthcare providers. Besides, there was a supply of phony medication during the COVID-19 outbreak, which reduced the public's faith in Cannabis Inhalers. Furthermore, a lack of knowledge among healthcare providers, including physicians and pharmacists, may act as a barrier to prescribing and recommending cannabis inhalers to patients. The lack of medical education in cannabis therapeutics can result in reluctance among healthcare professionals to incorporate cannabis-based treatments. North America Is Expected To Grow With the Highest CAGR during the Forecast Period The North American Cannabis Inhaler Market will likely register a significant revenue share and develop at a quick CAGR shortly. This is due to an increase in focus on adopting safer alternatives to cigarettes, which has helped to boost the cannabis inhaler market demand in North America. The usage of e-cigarettes, or vaporizers, is more prevalent among Americans under 30 years of age. It is as common among these young people as the usage of conventional cigarettes. Furthermore, the U.S. has allowed the controlled use of cannabis for medical and recreational purposes. This is an important step in legalizing cannabis and will boost demand for cannabis inhalers in this region.
By End-User- Hospitals Retail Pharmacies Specialized Health Centers
By Region- North America- The US Canada Mexico Europe- Germany The UK France Italy Spain Rest of Europe Asia-Pacific- China Japan India South Korea South East Asia Rest of Asia Pacific Latin America- Brazil Argentina Rest of Latin America Middle East & Africa- GCC Countries South Africa Rest of Middle East and Africa
About Us: InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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