Analysis of Potential Impact of COVID-19 on Sexual Wellness Market
The global sexual wellness market has been growing at a phenomenal pace in the past few years due to rising number of adults in total population. Sexual wellness means attainment of physical, mental, and sexual prosperity by individuals. Items, such as, attractive lingerie, condoms and contraceptives, individual ointments, sex toys, and others, for example, testing cards and pregnancy testing units, sexual improvement supplements, sex diversions, and vaginal sexual wellbeing items, which ensure security and joy of sexual experiences, are viewed as sexual health wellness items.
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Global health organizations and efforts of voluntary organizations for the betterment of women health in underdeveloped countries are also stoking the demand for sexual wellness products, especially sex toys. These organizations conduct adult health awareness workshops periodically for preventive care. In addition, modern lifestyle and personal and health awareness have also been key factors behind the growth of the global sexual wellness market.
Interest for sexual items from the growing economies, growing e-commerce retailing, rise in incidence of AIDS/HIV and STDs, and increase in awareness regarding sexual health items are pushing strong market development. Moreover, creative condom outlines and silicone-based ointments are picking up the trend, developing interest of women in buying such products. These are the significant patterns seen in the current market. However, undesirable reactions due to presence of harmful chemicals in items, reservations and societal hindrances, imitation of products, and accessibility of substitutes for condoms are the challenges faced by the global sexual wellness market.
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The global sexual wellness market can be segmented on the basis of product type, distribution channel, and region. Based on product type, the global sexual wellness market can be divided into contraceptives, condoms, sex toys, lubricants, sexual enhancement supplements, and others. Among these segments, sex toys has gained the dominant share of the sexual wellness market during the current year. The segment is likely to retain its leading position in the market during the forecast period owing to increase in acceptance and availability of the product in the market.
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Sex toys are also available with different branding concepts and packaging art, with manufacturers putting their logos and brand names on the products. Also, the latest introduction of sex toys, which are waterproof and can be used in the bath tub, has boosted the market for sex toys, globally. In terms of distribution channel, the sexual wellness market can be classified into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy accounts for the leading share of the sexual wellness market due to the preference of customers for buying equipment from retail pharmacies which are easily accessible.
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Geographically, the global sexual wellness market can be distributed into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to remain the leading market for sexual wellness globally, followed by Europe, due to increase in awareness about sexually transmitted diseases (STDs) and rising prevalence of sexual dysfunction cases in the region. The sexual wellness market in Asia Pacific is estimated to grow rapidly during the forecast period owing to increase in use of sexual wellness toys in the region. Increase in patient population and advancement in health care facilities are also fuelling the growth of the market in Asia Pacific.
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Major players operating in the sexual wellness market include Fuji Latex, Ansell, Doc Johnson, BioFilm Inc, The Female Health Company, Church & Dwight, Raymond Group, Mayer Laboratories Inc., Kheper Games, HLL Lifecare, Intimate Organics, Vee Excel Drugs and Pharmaceuticals, LoveHoney Pjur, Mankind Pharma, Reckitt Benckiser Group, and Trigg Laboratories.
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