The Vaporizers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Vaporizers Global Market Report 2024, The vaporizers market size has grown exponentially in recent years. It will grow from $21.92 billion in 2023 to $27.97 billion in 2024 at a compound annual growth rate (CAGR) of 27.6%. The growth in the historic period can be attributed to shift in consumer preferences, health and wellness trends, regulatory changes favoring vaping, increasing social acceptance, product innovation and design.
The vaporizers market size is expected to see exponential growth in the next few years. It will grow to $70.55 billion in 2028 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to rise in cannabis legalization, growing e-cigarette usage, expansion of vape culture, focus on sustainable and eco-friendly products, health consciousness and harm reduction. Major trends in the forecast period include disposable vaporizer pens, innovation in materials and design, customization and personalization, strict regulatory compliance, eco-friendly practices.
Growing advancements in vaporizers are driving the growth of the vaporizers market. Enhanced vaporizers can measure the required amount of anesthetic agents and can self-regulate the supply of anesthetic agents. For instance, GE Healthcare, a leading global medical technology, and life sciences company offers Aladdin Cassette, an electronic vaporizer that can measure the dose of anesthetic agents and store the information.
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The vaporizers market covered in this report is segmented –
1) By Type: E-cigarette Vaporizers, Marijuana Vaporizers, Medical Vaporizers
2) By Application: Personal Use, Medical Application, Other Applications
3) By Distribution Channel: Online, Retail
Medicated cannabis vaporizers have gained increasing demand in the vaporizers market. Cannabis vaporizers have controlling heating technology and offer the possibility of precisely adjusting the temperature of the heater using a display on the unit, giving the user full control over the density of the aerosol produced. For instance, Storz & Bickel, a subsidiary of Canopy growth corporation has developed and manufactured vaporizers (Volcano medic and the Mighty medic) as per European Medical Device Directive 93/42/ECC and Standard DIN EN 60601.
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