Since 2008, the amount of U.S. vape shops has grown to about 8,500, along with the sale of portable vaporizers and supplies climbed to $3.5 billion, in accordance with Wells Fargo Securities analyst Bonnie Herzog. She expects U.S. utilization of marijuana and vaporizers to overtake combustible cigarettes in Decade.
Marijuana represents an additional lucrative market. IBISWorld, market research firm, projects sales of cannabis for medical use to raise to $13.4 billion in 2020 from $3.6 billion in 2015, largely as a result of demand from an ageing population with conditions including arthritis, Alzheimer’s disease and glaucoma.
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At many vape shops, the modern customers are typically older nonsmokers experiencing serious illness, according to vape shop owners, customers and skillfully developed.
Patients and medicinal marijuana groups say they like the vaping device for marijuana instead of smoking because they believe you will find lower risks. Some states, including Ny and Minnesota, prohibit patients from smoking the cannabis. Within a vape device, the cannabis leaves or concentrate are heated to some temperature that's lower than required for combustion.
Vaping devices, that may be as small as a ball point pen, provide medical marijuana users with additional privacy, since the vapor released with the heating device is nearly odorless.
"Vaporized cannabis is a significant trend in both medical and adult use," said Christie Lunsford, a Colorado-based consultant who targets issues involving cannabis. "It's consistent, it's almost instantaneous, and it's appropriate for numerous consumers."
"We think the cannabis market will mimic and mirror the tobacco market," he was quoted saying. "We think they will see this (vapor) as a safer alternative."
Patients have to have a doctor's approval to get the marijuana, which is typically available from state approved dispensaries, private growers, and - in some instances - their own plants should they can't afford the cannabis, that isn't covered by most insurance policies.
At the same time, vaping devices have gone mainstream as the industry pushes them as an option to tobacco. Marijuana dispensaries in a few states also sell the electronics.
But vape shops, making use of their larger selection of devices, have experienced an uptick in sales especially from consumers who don’t desire to shop at tobacco stores or head shops, which cater more to recreational use.