DUBLIN--(BUSINESS WIRE)--The "United States' $13.2 Billion Sexual Wellness Market, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The U.S. sexual wellness market size is expected to reach USD 13.2 billion by 2027, registering a CAGR of 8.3% over the forecast period.
Government is undertaking initiatives to create awareness and promote the use of contraceptives in the younger generation to control the rising prevalence of STDs. The U.S. federal policy has taken measures to increase the availability of contraceptives and has made their coverage through health insurance companies mandatory. Thus, the growing awareness about STDs among the youth is expected to drive the market over the forecast period.
Erectile dysfunction deteriorates the sexual lives of the middle-aged population and they depend on lubricants to aid the process. Currently, almost 30 million men suffer from erectile dysfunction in U.S. This gives an insight into the potential opportunities and the huge scope of growth for the lubricant market over the forecast period.
The existing players are strengthening their foothold in the industry by introducing new products. In April 2017, Ansell launched an antiviral condom in the Canadian market. This product is claimed to be the first condom to offer protection against HIV and other viral transmissions.
Further key findings from the study suggest:
- The fading stigma attached to sexual experimenting is a key factor boosting the market growth. Moreover, easy availability due to development of e-commerce and retail stores also encourages consumers to opt for sexual wellness products with ease
- Sex toys dominated the product segment in 2019. Liberalization and increasing number of individuals embracing their sexuality has led to women and men experiment and explore
- There has been a shift in the marketing strategies with manufacturers working on eliminating the image of pornography associated with the use of vibrators and are promoting it as a healthy choice to promote sexual wellness
- A few of the U.S. sexual wellness market players such as Reckitt Benckiser (Durex), Church & Dwight (Trojan), and Ansell (Lifestyles) are working toward marketing of newly flavored condoms such as bacon, red velvet cake, and whiskey
- Some key industry contributors are Church & Dwight Co., Inc., Reckitt Benckiser Group plc, Veru Inc., Mayer Laboratories, Inc., Ansell (LifeStyles Healthcare Pte Ltd), BioFilm, Inc., and LELO.
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