The sexual wellness market is predicted to grow at a 9.2% CAGR over the forecast period (2018-2023), states the new Market Research Future (MRFR) report. Sexual wellness, simply out, means attainment of mental, physical, and sexual prosperity by individuals. This needs a respectful and positive approach to sexual relationships and sexuality, and also the possibility to have safe and pleasurable sexual experiences. Lubricants, condom, sex toys, sexual enhancement supplements, ointments, and contraceptives are some of the common sexual wellness products. Sexual health means having a positive relationship, experiencing intimacy, joy, and pleasure, and above all, avoiding unplanned pregnancies and sexually transmitted infections.
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Various factors are propelling the sexual wellness market growth. These factors, as per the new MRFR report, include increasing prevalence of sexually transmitted diseases worldwide, rise in awareness about sexual health items, development of e-commerce business, and favorable initiatives undertaken by the NGOs and government for promoting the use of contraceptives. Additional factors pushing market growth include increasing concern about personal hygiene, the growing interest for innovative sexual wellness products amongst youths, easy purchase and availability of products through online stores, and launch of innovative products such as organic oil-based lubricants, warming jelly, and flavored condoms.
On the flip side, side effects owing to toxic ingredients in products, product recalls, societal hindrances and reservations, availability of alternatives for condoms, and imitation of products are factors that may deter the sexual wellness market growth over the forecast period.
Leading players profiled in the sexual wellness market report include BioFilm IP LLC (US), Mankind Pharma (India), Veru Inc. (US), Karex Berhad (Malaysia), LifeStyles Healthcare (Australia), Reckitt Benckiser Group plc (UK), Ansell Ltd. (Australia), Church & Dwight Co., Inc. (US), Doc Johnson (US), and LELO (Sweden). Various strategies have been incorporated by key players to create a foothold in the market such as mergers and acquisitions, partnerships/joint ventures, research and development activities, product launches and innovations, collaborations, and expansions.
The MRFR report provides a complete segmental analysis of the Sexual Wellness Market report on the basis of distribution channels and product.
Based on product, the sexual wellness market is segmented into ointments, lubricants, sexual enhancement supplements, condom and contraceptives, sex toys, and others. Of these, the sex toys segment will have the largest share in the market over the forecast period.
Based on distribution channels, the sexual wellness market is segmented into online platforms and retail. The retail segment is again segmented into specialty stores, drug stores, and others. Of these, the retail segment will dominate the market over the forecast period.
By region, the sexual wellness market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific, and the Middle East and Africa. Of these, the Americas will dominate the market over the forecast period. Factors aiding growth in the region include developed e-commerce business in the region, growing awareness about sexual health items, growing incidence of sexually transmitted diseases, and the presence of several key players.
The sexual wellness market in Europe is predicted to have the second-largest share in the market over the forecast period. Factors aiding growth in the region include the growing prevalence of sexual dysfunction cases in the region and growing awareness about sexually transmitted diseases.
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The sexual wellness market in the APAC region is predicted to grow at the fastest pace over the forecast period. Factors aiding growth in the region include advancement in healthcare facilities, rise in patient population, increasing use of sexual wellness toys, supportive sex education programs, and growing awareness regarding sexual wellness products.
The sexual wellness market in the MEA is predicted to have a slow growth over the forecast period.
Increasing approvals and accreditation from the U.S. Food and Drug Administration (FDA) for newer devices is benefiting growth of the market. For instance, Active Implants, LLC received Breakthrough Device Designation from the FDA for its meniscus replacement device.
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