Those who vape cannabis spend twice as much

Vaping has become an increasingly popular alternative to smoking traditional cigarettes and cannabis. However, health officials are sounding the alarm. Earlier this year, the FDA banned manufacturers from making and selling favored e-cigarette cartridges in response to a wave of vaping-related illnesses and deaths in 2019. At the end of January, the Centers for Disease Control (CDC) released an update to its investigation into e-cigarette, or vaping, product use-associated lung injury (EVALI); citing more than 2,700 confirmed cases of EVALI hospitalizations. But how does all this news affect e-cigarette consumers?

A new study by Harmony Healthcare IT sought to answer those questions. They surveyed 1,800 adults between the ages of 18 and 35 who regularly use vaping products and found the majority (79-percent) say they feel ‘safe’ vaping, despite the threat of illness and death. The general perception is that vaping is healthier than the “alternatives.” Roughly three-quarters of vapers believe vaping is healthier than smoking cigarettes, 60-percent believe it’s healthier than drinking, and 39% believe it’s healthier than smoking cannabis.

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Comparison Of Those Who Vape Cannabis VS Nicotine

When asked about their awareness of EVALI, nearly eight-in-ten underestimated the extent of the cases. Some 79-percent of respondents thought fewer than 500 people had fallen ill as a result of e-cigarettes, when the actual data showed confirmed cases were three times higher. But young adult vapers seem to be weighing their options. More than half said they are concerned about recent vaping-related illnesses and deaths, and 50-percent said they reduced the amount and frequency they vape because of the news. However, 36-percent said they would continue to vape even if someone they knew fell sick as a result of the products.

Breaking down the demographics of young vaping consumers, 41-percent vapes nicotine, 30-percent vapes cannabis, and 27-percent says they use both products. Nicotine e-cigarette users are more aggressive consumers, according to the research, 31-percent of users who vape nicotine finish an e-cigarette cartridge in less than two days, compared to 23-percent of those who vape cannabis. However, those who vape cannabis spend nearly twice as much on products each month.

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About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver