Vaporizers Market Report 2025

The vaporizers market size has grown exponentially in recent years. It will grow from $27.57 billion in 2024 to $34.96 billion in 2025 at a compound annual growth rate (CAGR) of 26.8%. The growth in the historic period can be attributed to the 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 $86.16 billion in 2029 at a compound annual growth rate (CAGR) of 25.3%. 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, and eco-friendly practices.

The advancement in vaporizer technology is a driving force for the growth of the vaporizers market. Modern vaporizers are equipped to measure precise amounts of anesthetic agents and can autonomously regulate the supply of these agents. For example, GE Healthcare, a prominent global medical technology and life sciences company, provides the Aladdin Cassette - an electronic vaporizer capable of measuring anesthetic agent doses and storing related information.

The increasing popularity of electronic cigarettes (e-cigarettes) is anticipated to boost the vaporizers market in the future. E-cigarettes, powered by batteries, vaporize a liquid solution to create an aerosol that users inhale. Vaporizers play a pivotal role in e-cigarettes, heating and vaporizing the e-liquid to produce an inhalable aerosol, simulating the smoking experience. As of June 2023, the Centers for Disease Control and Prevention reported a 46.6% increase in e-cigarette unit sales, rising from 15.5 million units in 2020 to 22.7 million units in 2022. Moreover, the sales of disposable e-cigarettes more than doubled during this period, surging from 24.7% in January 2020 to 51.8% in December 2022. Consequently, the growing popularity of e-cigarettes is a key driver for the expansion of the vaporizers market.

The demand for medicated cannabis vaporizers is on the rise in the vaporizers market. Cannabis vaporizers incorporate advanced heating technology, allowing users to precisely control the heater's temperature through a display on the unit. This feature grants users complete control over the aerosol density produced. Storz & Bickel, a subsidiary of the Canopy Growth Corporation, has developed and manufactured vaporizers, namely Volcano Medic and the Mighty Medic, in compliance with the European Medical Device Directive 93/42/EEC and Standard DIN EN 60601.

Leading companies in the vaporizers market are increasingly focusing on the introduction of personalized platforms, exemplified by My PAX, to enhance revenue in the market. My PAX serves as a personalization platform for cannabis vaporizers, enabling users to customize their PAX vaporizer devices with unique and creative designs, delivering a personalized experience for cannabis consumers. In July 2023, PAX, a US-based cannabis company, launched the My PAX personalization platform, catering to devices such as PAX Plus, PAX Mini, and PAX Era. This platform offers various customization options, including text and line-based imagery. Users can easily create their ideal vape experience by adding text and line-based imagery while adjusting font, size, and layout.

In June 2023, Altria Group, Inc., a US-based major producer and marketer of tobacco products, acquired NJOY Holdings, Inc. for $2.75 billion. This acquisition enables Altria to gain complete global ownership of NJOY's e-vapor product portfolio, which includes the NJOY ACE - the only pod-based e-vapor product currently with FDA marketing authorization. NJOY Holdings, Inc., also based in the US, specializes in manufacturing and distributing electronic cigarettes and vaping products.

Major companies operating in the vaporizers market include GE Healthcare Technologies Inc, Atmos Nation LLC, Draegerwerk AG & Co. KGaA, Rothacher Medical GmbH, HANU LABS INC, Intersurgical Ltd., PAX Labs Inc, Boundless Technology, Ghost Vapes CO LIMITED, Puffco Corporation, Allied Medical Ltd, Penlon Ltd, Storz & Bickel GmbH & Co. KG, Firefly Vapor, Elev8 Cannabis Athol, Grenco Science Inc, Linx Vapor, DynaVap LLC, Dr. Dabber Inc., Fyron, OES Medical, Vapium Inc, KandyPens Inc, Vanker OÜ, Vaporizer Sales & Service, Arizer, Magic-Flight Launch Box, Utillian, Haze Technologies, Cloudious9 Inc., AirVape, C/O The Kind Group LLC, VAPE SOURCE (MCR) LTD., Healthy Rips, Ditanium Vapor.

Asia-Pacific was the largest region in the vaporizers market in 2024. The regions covered in the vaporizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vaporizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Vaporizers are devices designed to transform liquids into vapor for various applications. They are used in medical settings to inhale medicinal substances via anesthetic vaporizers, for recreational use in electronic cigarettes, and to enhance moisture levels in homes with humidifiers. This versatility allows vaporizers to serve diverse purposes across healthcare, leisure, and home comfort.

The primary categories in the vaporizers market include e-cigarette vaporizers, marijuana vaporizers, and medical vaporizers. Marijuana vaporizers are specifically designed to heat marijuana, whether in dry herb or concentrate form, sufficiently to release its active ingredients, particularly THC, without combustion. These products are distributed through online and retail channels, with applications ranging from personal use and medical applications to other purposes.

The vaporizers market research report is one of a series of new reports that provides vaporizers market statistics, including vaporizers industry global market size, regional shares, competitors with a vaporizers market share, detailed vaporizers market segments, market trends, and opportunities, and any further data you may need to thrive in the vaporizers industry. This vaporizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The vaporizers market consists of sales of e-cigarette vaporizers, marijuana vaporizers, medical vaporizers, and other vaporizers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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