Sexual wellness market in the US to increase by USD 6.472 billion between 2022 to 2027 | Increasing therapeutic uses of sexual wellness products to drive growth- Technavio

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- The sexual wellness market in US size is expected to grow by USD 6.472 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 8.3% during the forecast period. Increasing therapeutic uses of sexual wellness products are notably driving the sexual wellness market in US. However, factors such as an increase in side effects may impede market growth. The market is segmented by Distribution channels (Offline and Online), Products (Sex toys, Condoms, Erotic lingerie, Personal lubricants, and Others), and End-user (Men, Women, and the LGBT community). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis

The offline segment will be significant during the forecast period. This segment includes the retail and specialty stores segment. Speciality stores include adult toy stores, supermarkets hypermarkets, and other retailers. Since vendors provide accurate information to consumers, the number of people visiting offline stores is increasing significantly. This is because end-users can take advice from professional sales personnel before making the purchase. This further increases their awareness about the safe use of sexual wellness products. Sex toy expos also drive market growth. For example, Boink Boutique provides its subscribers with a box of pre-selected sex toys, lubricants, and other adult products every month. Hence, such initiatives by retailers to increase the sales of sexual wellness products will boost the growth of the offline segment of the sexual wellness market in the US during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

The increasing use of sexual wellness products for therapeutic purposes drives the growth of the market. When women face issues like vaginal dryness, muscle variations, and hormonal imbalances affecting vaginal moisture levels, surgeries and advanced technology are costly. This leads to a demand for sexual wellness products as alternatives.

Furthermore, the surge in the popularity of female condoms is an emerging market trend. More women prefer condoms that cater to their needs, creating a significant demand for such products. Female condoms also serve as an excellent alternative to hormonal methods of pregnancy prevention, which may not suit everyone. However, an increase in side effects impedes market growth. Consumers are concerned about the side effects because the raw materials and ingredients such as rubber, plastic, latex, and nitrile used in these products must be scrutinized as they come in direct contact with sensitive/intimate areas of the skin. Moreover, several of these products contain harmful toxins and chemicals, such as phthalates and parabens. Hence, such factors hinder the growth of the sexual wellness market in the US during the forecast period.

Company Insights 

The sexual wellness market in US is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:

PHC Inc., Ann Summers Ltd., Ansell Ltd., Bijoux Indiscrets SL, Church and Dwight Co. Inc., Dame Products Inc., GLYDE, Good Clean Love Inc., HYTTO PTE. Ltd., JIMMYJANE, KESSEL medintim GmbH, LELOi AB, Lovehoney Group Ltd., Lovelife Toys, Luvu Brands Inc., Pure Romance, Reckitt Benckiser Group PLC, Sagami Rubber Industries Co. Ltd., Veru Inc., and WOW Tech International GmbH

View PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The Female Condoms Market size is projected to increase by USD 507.25 million and the market size is estimated to grow at a CAGR of 12.54% between 2022 and 2027.

The sexually transmitted disease (STD) testing market size is estimated to grow at a CAGR of 5.46% and the size of the market is forecast to increase by USD 29,988.27 million between 2022 and 2027.

ToC:

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Distribution

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Website: www.technavio.com

SOURCE Technavio