Opinion: Why the Vaping Market is a Good Investment Prospect
Making successful investments involves focusing on the future, and the future of the vaping market has gone from potentially bleak to expectantly brilliant. The vaping market consists of vaping liquids, also known as e-juice or e-liquids, and vaping devices that are more advanced than the standard e-cigarettes found at gas stations and convenience stores. The future of vaping is showing exceptional promise for several reasons.
Changes in FDA Regulations
The potentially bleak future of vaping stemmed from stringent regulations from the Food and Drug Administration that were set to go into effect in mid-2017. Those regulations would have required lengthy and extremely costly applications that independent vaping product manufacturers would have been hard-pressed to meet.
A mere two weeks prior to going into effect, however, the FDA announced a new comprehensive plan for tobacco and nicotine regulation that focused more on the harms of traditional cigarettes than decimating the vaping industry. Not only did the FDA extend the application deadline, but the agency noted it would make the process more transparent, predictable and efficient.
It likewise noted nicotine was most harmful when delivered by combustible cigarettes. The agency’s new aim is to ensure regulations allow for the development of products that may be less harmful than traditional cigarettes, which points right to products in the vaping industry.
Support from Other Public Health Organizations
While it may have taken some time for the FDA to come around, public health officials in the U.K. have been supporting vaping over smoking for several years. In 2014, Public Health England made the determination that vaping was about 95 percent safer than smoking cigarettes. A dozen public health organizations across the U.K. joined forces with Public Health England in 2016 to issue a joint statement affirming that vaping is considerably less harmful than smoking.
Studies Standing Firm
Both new and existing studies stand firm in support of vaping. A recent study published in the Annals of Internal Medicine found vaping and nicotine replacement therapies, such as patches or gum, resulted in the same reduction in smoking-related carcinogens and toxins.
Previous studies have been withstanding the test of both time and opponents. A 2014 Public Health England independent review shed light on the fact that vaping products don’t contain the multitude of carcinogens and toxins found in cigarettes.
The Independent Scientific Committee on Drugs assembled an international expert panel that ranked a number of nicotine products from 1 to 100, with 100 being the most hazardous. They gave traditional cigarettes a score of 100; vaping products received less than 16.
Another review presented to public health and pharmacy officials in the U.K. pegged the long-term harm of vaping at about one-twentieth that of traditional cigarettes. As more studies supporting vaping continue to emerge and the general public becomes more aware of what vaping is all about, previous myths are being systematically dispelled.
Building on Solid Foundation
Great Britain has already seen more than 1 million give up smoking in favor of vaping.
An estimated 10 percent of adults currently vape in the U.S., with the smoking rate expected to drop up to 3 percent per year.
A Wells Fargo Securities equity research report predicts vaping industry revenue to hit $27 billion by 2023, compared to the $14 billion predicted for traditional cigarettes for that same year. The current state of vaping enjoys a solid foundation, with the expectation of gathering more strength and support moving forward.
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