By now you’ve probably heard about the dangers associated with black market cannabis products from pesticide concentrations in amounts too high to handle, let alone vaporize, as well as vitamin E being used to thicken vaping solutions. That's not to mention that no one knows exactly what’s the cause of the recent deaths and hospitalizations associated with cannabis vaping products.
Accordingly, cannabis users have shifted away from purchasing vape products and are finding alternatives to use such as edibles. In a post from New Frontier Data, cannabis shops nationwide have reported on average a 15% decrease in vape product sales, and even as much as 60% in Oregon where someone died from a vape product sold by a legal dispensary. Sales for other cannabis products such as edibles and dried flower have reported an increase, so the market is still there.
But what does this mean for those companies that bet on vaping?
The infamous Juul Labs vape company has been under scrutiny recently, resulting in them pulling all of their flavored vaping products from market amid their criminal investigation. Juul’s spin-off company Pax Labs, which makes cannabis vaping products, has not been linked to any of the reported cases with their CEO Lisa Sergi stating that consumer safety is their top priority at Pax.
But that doesn’t put Pax in the clear. The FDA warned consumers to cease using cannabis vaping products obtained from any source, which many people have heeded to.
In the IP space, we still see active filing for cannabis vaping-related patents, especially from Lunatech, Altria, Canopy Growth, and Syqe Medical.
Take control of your market and IP research with a subscription to Magic Number IP, which will provide you with the essentials that you’ll need to make cutting-edge and well-informed decisions.