Cannabis legalization in regions across the world is igniting demand for new cannabis tech hardware devices. The result? A flurry of R&D activity as entrepreneurs and corporations race to bring new hardware to market.
The most popular of these new cannabis devices are vaporizers that work by heating up marijuna flower, oil or extracts into a vapor that can be consumed.
Right now dozens of companies across the world are racing to bring new cannabis vaporizer technology to market. Here are three reasons why:
1) Cannabis vape technology is evolving, fast
The traditional e-cigarette style cannabis vape is fast becoming a relic of the past. New vapes designs are emerging from companies across the globe. They include a host of new features including accurate dosages, disposable cartridges, bluetooth connected apps, biometric tracking and tamper-proof safety designs.
The result is a constant churn of cannabis vape tech with new devices launching often. This creates an opportunity for new vape developers to enter the cannabis market. Examples of global vape technology that are starting to take off right now include:
- Syqe Medical: Accurate dosage medicinal vape inhaler(Israel)
- Dosist: prefilled disposable dial-a-dose vaporizer pen (United States)
- Tafee Technologies Loose leaf medicinal cannabis inhaler. (Canada)
2) Consumers Prefer Vaping vs. Smoking Cannabis
As the legal cannabis market matures, health-conscious consumers are turning to vape devices as their preferred method for consumption. This choice is reflected in the vape sales of mature cannabis markets like California and Colorado where upwards of 30% of all sales are in the vape category, a trend that is forecasted to increase.
In new Cannabis markets like Canada and Israel, the vape market is only beginning leaving loads of room for growth.
Chris Damas, editor of the BCMI Cannabis Report confirms this saying, “ Of all the new products coming on line vape pens will make up half of all derivative sales.”
To meet this demand and differentiate product offerings, companies across the globe are developing new vaporizers to cater to cannabis consumers and medicinal users.
3) Vape companies partnering with licensed cannabis producers
Cannabis regulations for device manufacturers are a work in progress. This creates a big risk for entrepreneurs and companies looking to invest in the Cannabis tech space, especially when selling devices across international borders.
To limit regulatory risks cannabis hardware companies have been separating themselves from the cultivation and production of cannabis. The result? Cannabis hardware tech companies have been partnering with existing producers and manufacturers of cannabis consumables. These partnerships allow non-licensed cannabis companies who cannot handle or sell marijuana directly to enter the market.
Examples of partnerships between licensed cannabis producers and companies include:
Type: Disposable Vape Pen
Organigram a licensed cannabis producer partnered with Feather, a manufacturing of various cannabis vapes.
Type: Vape Hardware
Up Cannabis a Canadian based cannabis producer partner with Greentank a manufacturer of a variety of premium vape hardware.
Type: Cannabis Extract Vape
Supreme is one of four Canadian licensied cannabis producers that Pax Labs has teamed up with.
Type: Cannabis Extract Vape Pens
Ace Valley sister company of beer brand Ace Hill is using a white-lable manufacturing strategy to enter the market.
What's next for cannabis vape technology?
The rising demand for cannabis vape technology is motivating entepreneurs, startups and corporations to develop new vape hardware. As a product desgin company, we have witnessed firsthand the surge in vape R&D and are helping several companies like Tafee Technologies bring new vape innovation to global markets.
As cannabis legalization continues to spread across the world, vaping will grow to be the consumption method of choice for both consumers.
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