Market Trends of Sexual Wellness Industry
Contraceptives Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Factors such as the increasing prevalence of sexual diseases, coupled with product launches and approvals, are expected to increase segmental growth. For instance, in November 2021, a report published by the European Centre for Disease Prevention and Control stated that the sex between men and women is the second most commonly reported mode of transmission in the European Union, accounting for 29.7% (4445) of all HIV diagnoses. The highest proportions of these were observed in France (53%). Thus, the high prevalence in France of HIV diagnosis is expected to increase the market growth over the forecast period. Additionally, as per National Family Health Survey (NFHS) report 2021, nearly 37.9% of women in India use sterilization to prevent unwanted pregnancies, much higher than non-surgical methods, and India shows heterogeneous geographical variation in the choice of contraceptive methods for family planning and controls the abortions coupled with unwanted pregnancies. Increased awareness of safe sex practices in France is likely to drive demand for barrier contraceptives, while the need for alternative contraceptive options in India presents an opportunity for non-surgical methods. The geographic variation in contraceptive preferences in India emphasizes the need for a diverse range of products.
Product launches and approvals are expected to increase market growth. For instance, in April 2021, Mayne Pharma received Food and Drug Administration (FDA) approval for NEXTSTELLIS (3 mg drospirenone (DRSP) and 14.2 mg estetrol [E4] tablets) for the prevention of pregnancy. Similarly, in February 2021, Evofem Biosciences, Inc., launched "Get Phexxi," a national direct-to-consumer (DTC) campaign aimed at broadening awareness of its non-hormonal. Thus, the increased demand for contraceptive products is expected to increase segmental growth.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
Factors such as the increasing prevalence of sexual diseases, research grants, and product initiatives such as approvals and launches are expected to increase market growth in the North American region. Increasing research grants are expected to increase market growth in the region. For instance, According to the Department of Health & Human Services, approximately 1.2 million people in the United States have HIV, and about 13% are unaware and need testing.
Similarly, the allocation of USD 117 million from the CDC to state and local health authorities in July 2021 for HIV prevention and treatment activities is expected to significantly impact the growth of the sexual wellness market. This funding supports the government's Ending the HIV Epidemic in the US (EHE) project, which aims to expand and customize essential HIV prevention strategies in 57 priority areas. As a result of increased funding and support for HIV prevention and treatment, there will be a greater emphasis on education, awareness, and access to sexual wellness products. This will drive the demand for products such as condoms, barrier methods, and other preventive measures. Additionally, the research grants enable expanding healthcare infrastructure and enhancing sexual health services, leading to increased availability and accessibility of sexual wellness products. In conclusion, the CDC research grants for HIV prevention and treatment activities will stimulate the growth of the sexual wellness market by promoting education, awareness, access, and customization of HIV prevention strategies, ultimately benefiting individuals seeking comprehensive sexual health services.
Product approval is another factor in market growth. For instance, in March 2021, Mithra and Searchlight Pharma received Health Canada approval for Nextstellis, the first and only combined oral contraceptive (COC) product based on the unique native estrogen estetrol (E4). Thus, the increasing prevalence of STDs, coupled with grants and product approvals, is expected to increase market growth.
