Global sexual wellness market 2020 is projected to grow at a CAGR of 9.2% over the forecast period.
Sexual Wellness Market highlights
Factors such as growing the global prevalence of sexually transmitted diseases (STDs), increasing understanding of sexual health goods, and the growth of the e-commerce industry are expected to fuel consumer growth. In the healthcare sector, the accelerated speed of digitization due to the convergence of a variety of innovations such as sensors, the IoT platform, and smart data analytics for healthcare products leads to broadening business avenues.
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Financial experts and major leaders in technology see incredible promise in smart medical care and promote investment in the growth of healthcare IoT systems. Developing nations across the world have seen a rapid penetration in electronic medical records in recent years. The rise of the women’s category is motivated by growth in the population of working women, gender neutrality, sex education and sexual health literacy. Female contraceptives have gained substantial popularity among women because they provide different advantages, such as the avoidance of sexually transmitted infections and unintended pregnancy.
The growth of the sexual wellness market size is boosted by the rise in recognition of the LGBT community and benefits and regulation of gay marriages, as sexual wellness items such as lubricants, delay sprays, and vibrators have gained considerable traction in the LGBT community. Different nations, such as the United States Sweden, the Netherlands, and several other European countries have given the LGBT community civil rights. Judicial rights grant equal-sex marriage equality and legally encourage same-sex marriages, which is expected to fuel the development of the sexual wellness industry.
In the global sexual health market, online retailers have gained considerable momentum as they offer anonymity and protect people’s confidentiality. Special discounts and door step delivery have also made online shops popular among the millennial community.
Side effects related to harmful additives in cosmetics and product recalls, though are hampering demand growth over the projected timeframe.
Sexual Wellness Market Segmental analysis
The global demand for sexual health has been categorised into goods, delivery networks, and territories.
The sexual health market is segmented into sex dolls, condoms & contraception, vitamins for sexual enhancement, lubricants, ointments, and others depending on the commodity. In 2017, the sex toys segment is estimated to account for the market’s largest share segment.
The sexual health industry is segmented into retail and internet outlets on the basis of delivery networks. In 2017, the retail sector is estimated to account for the market’s largest share segment. The shopping market is also sub-segmented into convenience stores, small shops and others.
Sexual Wellness Market Regional Overview
The sexual wellness market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa by country.
Geographically, owing to a well-established sector, the Americas is expected to dominate the global sexual wellness industry, increasing the prevalence of sexually transmitted diseases (STDs), increasing understanding of sexual health goods, and establishing an e-commerce sector. Improvisation and advancement in sex toys and condoms are the main trends behind the development of the sexual health industry in North America.
In the global sexual wellness industry, Europe is projected to occupy the second largest spot. The growth of the market in this area is due to a rise in perception of sexual health goods.
The Asia-Pacific region’s sexual health industry consists of countries such as India, China, Japan, the Republic of Korea, Australia and the rest of Asia-Pacific. The Asia-Pacific region is projected to be the region with the highest growth.
The Middle East & Africa has the least share of the sexual wellness market.
Sexual Wellness Market Competitive Dashboard
Some of the prominent players in the global sexual wellness market are LELO (Sweden), Doc Johnson (US), Church & Dwight Co., Inc. (US), Ansell Ltd. (Australia), Reckitt Benckiser Group plc (UK), LifeStyles Healthcare (Australia), Karex Berhad (Malaysia), Veru Inc. (US), Mankind Pharma (India), and BioFilm IP LLC (US).
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