The market for sex reassignment surgery is anticipated to increase at a CAGR of 11.5% between 2024 and 2032. Incidences of gender dysphoria are on the rise, and an increasing number of people are opting for gender confirmation surgeries, which is expected to fuel growth throughout the forecast period. According to a study conducted by Cedars Sinai in June 2020, 78% of transgender boys experienced gender dysphoria before the age of 7. Approximately 6,2 years is the average age at which transgender men develop gender dysphoria. As it facilitates the transition of those with gender dysphoria to their self-identified gender, sex reassignment surgery is gaining popularity among young transgender Americans.
The transgender population frequently faces serious mental health issues, such as anxiety and depression. With each passing year, the necessity for female-to-male gender transition treatments may expand as the community's population grows. Annually, about 9,000 transgender surgeries are performed in the United States. If health insurance programs offer sex reassignment therapies, the incidence of female-to-male sex change surgeries will grow. Technological improvements, such as innovative surgical treatments that have proven beneficial in female-to-male gender-affirming surgery, will impact market trends.
The size of the market for sex reassignment surgery in Europe is expected to surpass $ 480 million by 2031, because of the growing public awareness of sophisticated sex reassignment surgeries. Growth in disposable income may encourage individuals with gender dysphoria to undergo gender reassignment surgery in order to reclaim their self-esteem. In Europe, the number of LGBTQ community members has risen rapidly. The Office for National Statistics predicted that between 200,000 and 500,000 transgender individuals will reside in the United Kingdom in 2023, and this figure is expected to rise in the near future. In Europe, the adoption of various organizations', communities', and regulatory bodies' awareness campaigns would enhance the demand for sex change surgery.
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The high cost of operations is a key barrier to the growth of the global market for gender reassignment surgery. The typical total cost of gender reassignment surgery includes expenditures incurred in the year preceding the procedure, during which hormone therapy, counseling, and full-time living as the target sex are recommended. In addition, the cost of gender reassignment surgery includes surgical procedures and follow-up care, as well as ongoing expenses such as lifelong hormone therapy and regular doctor visits.
In addition to surgery costs, there are also costs related to medication and rehabilitation. Before undergoing worldwide physical transformation, one year of psychotherapy with a psychologist is necessary. Consequently, the high price of gender reassignment treatments is a significant drawback that can impede the growth of the market throughout the forecast period.
On the basis of gender transition, the market is divided into male-to-female (MTF) and female-to-male (FTM) segments (FTM). Revenue-wise, the FTM category dominated the market in 2023. This is the result of ongoing advancements in metoidioplasty, phalloplasty, scrotoplasty, and chest reconstruction. According to the American Society for Plastic Surgeons, transgender female sex reassignment surgeries and breast/chest & face procedures climbed by 13% & 14%, respectively, in 2023.
During the forecast timeframe, the male-to-female category's market share will expand significantly. Gender reassignment surgery from male to female comprises transforming the male genitalia into a form that resembles and functions similarly to female genitalia. Prior to surgery, patients often take female hormone therapy to make them appear more feminine, but this is optional. Associated procedures include vaginoplasty, facial hair removal, breast augmentation, facial feminization surgery, as well as a number of others.
During the period of forecast, the male-to-female market is anticipated to expand. In a male-to-female gender reassignment procedure, portions of the original penis are used to construct a sensate neo-vagina. Orchiectomy describes the removal of the testicles. Labia are made from scrotal tissue. The neo-clitoris is composed of erectile tissue from the penis. However, the urethra remains functioning and intact. Sexual orientation surgery cannot be undone. Therefore, anyone interested in undergoing a male-to-female sex change operation should do a comprehensive analysis. During the forecast period, the market expansion will be fueled by these drivers.
North America retained a 50% revenue share in 2023. Gender reassignment operations are often performed by board-certified or licensed plastic surgeons. The primary goal of these surgical procedures is to give transgender individuals the functional abilities and physical appearance of the gender with which they identify emotionally and psychologically. This type of surgery includes facial feminization, facial masculinization, and transmasculinization of the bottom. During the projected period, the regional market is anticipated to be driven by the rise in the incidence of gender dysphoria and the number of individuals opting for gender reassignment treatments. Aetna Inc. (Aetna) and Unicare cover surgical procedures including bilateral salpingo-oophorectomy, hysterectomy, orchiectomy, and ovariectomy. Consequently, the better reimbursement scenario is likely to have a positive effect on the growth of the regional market throughout the forecast period.
The sex reassignment surgery market is fragmented. The organizations contributing to the expansion of the market are focusing on enhancing their market presence by employing a variety of strategies. They offer innovative and exclusive surgical techniques, including tracheal shave (chondrolaryngoplasty), male and female breast reduction, neo-vaginoplasty, and genital remodeling. Companies receive recognition on the Health Care Equality Index and invest in LGBTQ+ healthcare. Transgender Surgery Institute of Southern California, Mount Sinai Centre for Transgender Medicine and Surgery (CTMS), Rumercosmetics, Phuket International Aesthetic Centre (PIAC), Chettawut Plastic Surgery Centre, Sava Perovic Foundation Surgery, MohebMehr Hospital, Bupa Cromwell Hospital, Vancouver Coastal Health, Yeson Voice center, Toronto Hospital, Nirunda International Aesthetic Centre, Kamol Hospital, and Nirunda International Aesthetic Centre are some of the key market players.
