Pune, India, June 22, 2023 (GLOBE NEWSWIRE) -- According to Recently Published Report by The Insight Partners, “Sexual Wellness Market Size Report and Forecast to 2028 - COVID-19 Impact and Global Analysis By Pharmaceutical Product (Capsules, Tablets, Oral Liquids, and Sprays), Non-Pharmaceutical Product (Sex Toys, Condoms, Intrauterine Devices, Contraceptive Implants, and Others), and Distribution Channel (Retail Pharmacies, Online Distribution, Mass Merchandize, and Hospitals Pharmacies)”; the sexual wellness market size is projected to reach $89.39 billion by 2028, which was valued at $51.92 billion in 2021; it is estimated to register a CAGR of 6.7% from 2022 to 2028.
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Changing Perception Toward Use of Sexual Wellness Products Boost Global Sexual Wellness Market Growth:
The diminishment of taboos related to sexual health and pleasure is opening a vast market for the established brands offering a wide variety of products such as toys and personal lubricants. Growing concerns about personal hygiene, attractive and informative branding, and campaigning along with increasing openness about sexual fantasies are the significant factors driving the sexual wellness market growth. Major sexual wellness brands are experiencing lucrative demand for sex toys from both men and women. Also, online shopping has further enhanced sales as these platforms allow customers to purchase products such as sex toys, lubricants, and condoms without letting many people know. Many new players are entering the sexual wellness market due to the substantial potential.
Aging leads to changes, such as vaginal dryness and erectile dysfunction; moreover, problems such as stress, lifestyle changes, and chronic illness can compromise the intimacy between partners. The application of lubricants provides the feel of natural vaginal lubricants and helps alleviate the problem, which makes them a preferred choice among consumers for masturbation and penetrative sex. The use of sex toys can increase arousal, relieve stress, and trigger hormonal changes, which is especially helpful for women approaching menopause. In addition, continuous advancements in products are further driving the sexual wellness market growth. Urja BEAUTY, a skincare brand, offers a collection of luxe vulva care products. Urja Intimates, a premium vulva and vagina care range, consists of Vibrant V pH Balanced Personal Wash, Intense Hydrating Lubricant, and Vibrant V Moisturizing Silky-Serum.
Impact of COVID-19 Pandemic on Global Sexual Wellness Market Growth:
The supply chain disruptions and the massive demand for efficient treatments for the therapy of COVID-19 have put the healthcare research industry in a crucial situation globally. The demand for condoms has increased, while the desire for sex toys and other things has decreased temporarily. People all around the world, however, have begun to rely on sex toys and vibrators to meet their sexual requirements. The virus has impacted negatively on the supply chain. According to an article published by BMC Public Health in 2022, COVID-19 related restrictions were correlated with higher rates of sexual dysfunction and reduced sexual activity. Moreover, the researchers in China have discovered that, both sexual activities and sexual pleasure of young men and women were declining, and that low sexual desire and unsatisfied partner relationships were key factors influencing sexual activities. According to an NBC News survey of almost 9000 respondents, 47% reported COVID-19 infection had an adverse effect on their sexual lives. Similarly, two scholars in Istanbul, Turkey, published that during the COVID-19 pandemic, female sexual desire and frequency of intercourse increased dramatically, however, the quality of their sexual life fell sharply.
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Sexual wellness product providers are focusing on exploring the benefits of using technologies to enhance the capabilities of sex toys. The growing use of motors and batteries, preference for touch-based interfaces, virtual reality and artificial intelligence for response and control, and focus on the development of stretchable skins are among the approaches adopted by manufacturers to promote and enhance the performance of their sexual wellness products. The market players are actively bringing new technologies and spreading awareness about them worldwide. In January 2020, OhMiBod launched blueMotion NEX|3, a Bluetooth-enabled and application-controlled vibrating ring for couples. This new functionality enables users to listen to music on their mobile devices while enjoying the rhythm and beat of songs while using the vibrator. In August 2018, Kiiroo launched a bi-directional teledildonic platform. This newly launched system enables partners to give sexual pleasure even from remote locations. Further, in August 2018, Realbotix launched Harmony 3.0, a sex doll with fully functioning capabilities. Thus, the launches of such technology-enabled sex toys and platforms are likely to reshape the future of the sexual wellness market in the coming years.
Global Sexual Wellness Market: Segmental Overview
Based on pharmaceutical product, the sexual wellness market is segmented into capsules, tablets, oral liquids, and sprays. The capsules segment held the largest share in 2021, and the segment is anticipated to register the highest CAGR in the sexual wellness market during the forecast period. Based on non-pharmaceutical product, the sexual wellness market is segmented into sex toys, condoms, intrauterine devices, contraceptive implants, and others. The sex toys segment held the largest sexual wellness market share in 2021 and is anticipated to register the highest CAGR during the forecast period. In terms of distribution channel, the sexual wellness market is categorized into retail pharmacies, online distribution, and hospital pharmacies. The retail pharmacies segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market from 2022 to 2028.
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