LONDON--(BUSINESS WIRE)--The global sexual enhancement supplements market is expected to post a CAGR of over 9% during the forecast period 2019-2023, according to the latest market research report by Technavio.
Normal aging leads to certain physical changes in both men and women, including their sexual performance. For instance, men are more prone to becoming impotent when they reach the fifth decade of their age. Apart from aging, several other health-related risk factors such as arthritis, chronic pain, diabetes, cardiovascular diseases, depression, and use of alcohol also contribute to the development of sexual problems in both men and women. In order to enhance their sexual life, individuals are increasingly consuming sexual enhancement supplements. This is one of the key trends fueling the growth of the global sexual enhancement supplements market size.
As per Technavio, the strong prevalence of erectile dysfunction (ED) will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global sexual enhancement supplements market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global sexual enhancement supplements market: Strong prevalence of erectile dysfunction (ED)
Health-related risk factors such as diabetes, testosterone deficiency, prostate cancer, obesity, and hypertension have increased the prevalence of erectile dysfunction among men. The consumption of certain medicines and substance abuse have also increased its prevalence. In addition, changing lifestyles, including the increased consumption of tobacco and alcohol, and increased unemployment stress have made young men more susceptible to ED. These factors have increased the demand for sexual enhancement supplements among men, thereby driving the growth of the global sexual enhancement supplements market size.
“North America provides a large number of growth opportunities for sexual enhancement supplement manufacturers. There is a strong presence of a large patient pool with sexual dysfunctions in the region. Moreover, the growing geriatric population in the region has increased the demand for sexual enhancement supplements. There is a strong prevalence of ED and premature ejaculation (PE) among men aged between 45 to 60 years of age in Europe. Moreover, consumers in the region have an open attitude toward sex and are highly aware of the use of sexual enhancement supplements. These factors are expected to boost market growth over the forecast period,” says an analyst at Technavio.
Global sexual enhancement supplements market: Segmentation analysis
This market report segments the global sexual enhancement supplements market by product (male sexual enhancement supplements and female sexual enhancement supplements), distribution channel (online stores and retail stores), and geography (Asia, Europe, North America, and ROW).
North America led the market in 2018 with a market share of more than 36%, followed by Europe, Asia, and ROW respectively. The dominance of North America can be attributed to the presence of a large geriatric population in the region.
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Five Forces Analysis
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