The U.S. sexual wellness market size is expected to reach USD 8.8 billion by 2025, based on a new report by Grand View Research, Inc. 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 amongst the youth is expected to drive the U.S. sexual wellness 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 the U.S. alone. This gives an insight into the potential opportunities and the huge scope of growth present in 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.
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Further Key Findings from the Study Suggest:
- The fading stigma attached to sexual experimenting is a key reason for the huge market. Moreover, easy availability due to development of e-commerce and retail stores also encourages the consumers to opt for vibrators.
- Vibrators dominated the product segment in 2016. Liberalization and increasing number of individuals embracing their sexuality has led to both young women and men to experiment and explore. The product currently is a part of mainstream personal care products to promote healthy sexual lives.
- There has been a shift in the marketing strategies employed for these products 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 well-being. They mostly target couples and hence expand their distribution channels to include grocery stores.
- A few market players in this segment include Reckitt Benckiser (Durex), Church & Dwight (Trojan), and Ansell (Lifestyles). Companies are working toward marketing of newly flavored condoms such as bacon, red velvet cake, and whiskey.
- Origami condoms, a California-based firm has submitted a condom that does not require rolling onto and also increases the pleasure sensation.
- 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.