Retail Pharmacies Segment is Expected to be Fastest Growing During Forecast Period for SAM Region     

According to a new market research study on “SAM Sexual Wellness Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Pharmaceutical Product, Non-Pharmaceutical Product, and Distribution Channel” is expected to reach US$ 3,320.90 million by 2028 from US$ 2,254.21 million in 2021. The market is estimated to grow at a CAGR of 5.7% from 2021 to 2028. The report provides trends prevailing in the SAM sexual wellness market along with the drivers and restraints pertaining to the market growth. Increasing awareness about sexually transmitted diseases and changing perception toward use of sexual wellness products are the major factor driving the growth of the SAM sexual wellness market. However, small clientele in low-income countries hinders the growth of SAM sexual wellness market.          

Countries in SAM, especially Brazil, are highly affected due to the COVID-19 outbreak. The outbreak has stringently affected medical services in the region. Also, the nations are famous for medical tourism, which is influenced by the pandemic. It is anticipated that the region will likely impose a second lockdown, which will eventually hamper the healthcare industry in the area.  Brazil, Argentina, Uruguay, Chile, Peru, and Colombia are concerned by the second wave of the outbreak. Amongst these countries, Brazil has registered the majority of the deaths. Increasing maternal mortality and morbidity, rising adolescent pregnancies rates, and surging HIV and sexually transmitted diseases incidence may arise from diverting attention and critical resources away from these measures. Given the current environment of COVID-19 pandemics, it is anticipated that an additional 18 million women in Latin America and the Caribbean will lose regular access to modern contraception. Thus, the ongoing clinical studies regarding sexual wellness market for COVID in the region is likely to favor the growth of the market during the forecast period.   

The SAM sexual wellness market is segmented based on pharmaceutical product, non-pharmaceutical product, distribution channel, and country. Based on pharmaceutical product, the market is segmented into capsules, tablets, oral liquids, and sprays. The capsules segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on non-pharmaceutical product, the market is segmented into sex toys, condoms, intrauterine devices, contraceptive implants, and others. The sex toys segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period.  Based on distribution channel, the market is segmented into retail pharmacies, online distribution, and hospitals pharmacies. The retail pharmacies segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into Brazil, Argentina, and rest of SAM. 

Bayer AG; Church & Dwight, Inc.; Lovehoney Group Ltd.; Reckitt Benckiser Group Plc; and TENGA Co., Ltd. are among the leading companies in the SAM sexual wellness market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Church & Dwight, Inc announced the acquisition of Matrixx Initiatives, Inc., the owner of the ZICA brand for $530 million. This acquisition has brought a superb addition to company's existing product portfolio

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