The global Sex Reassignment Surgery Market is Growth Accelerated by Rising Prevalence of Gender Dysphoria

 

Sex reassignment surgeries are procedures aimed at aligning one’s physical appearance with self-identified gender. Key procedures include orchiectomy, penectomy, vaginoplasty, phalloplasty, breast augmentation and hair reconstruction surgery. The underlying aim of these procedures is to treat gender dysphoria by making one’s physical traits match with one’s perceived gender identity. With growing awareness and acceptance of LGBTQ+ rights, more individuals are choosing to undergo sex reassignment procedures. The global Sex Reassignment Surgery Market is estimated to be valued at US$ 696.2 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The rising prevalence of gender dysphoria across the world has been a key growth driver for the sex reassignment surgery market. According to recent estimates, nearly 700,000 people experience gender dysphoria in the United States alone. Favorable reimbursement and regulatory policies have also boosted market growth. In 2021, the U.S. government lifted the ban on transgender individuals serving openly in the military. Additionally, over 25 states in the U.S. now mandate insurance coverage for gender-affirming care including sex reassignment surgeries. With growing social acceptance and more funding opportunities, the market for sex reassignment surgeries is expected to exhibit strong growth over the forecast period.

Segment Analysis
The global sex reassignment surgery market is segmented on the basis of surgeries into facial reconstruction, genital reconstruction, breast reconstruction, and others. Among these, the breast reconstruction segment dominated the market in 2023 and is expected to continue its dominance during the forecast period. Breast reconstruction surgery is one of the most common procedures undergone by transgender women to achieve a more feminine appearance. Growing cultural acceptance of gender transition surgeries is driving the demand for breast reconstruction worldwide.

Key Takeaways
The global sex reassignment surgery market is expected to witness high growth over the forecast period 2023-2030. Regional analysis - North America currently holds the largest share of the global market and is expected to maintain its dominance through 2030. Growing awareness regarding gender non-conforming and transgender identities in the United States and Canada is contributing to market growth in North America.

Key players - Key players operating in the sex reassignment surgery market are Chettawut Plastic Surgery Center, Mount Sinai Centre for Transgender Medicine and Surgery, Rumercosmetics, Phuket International Aesthetic Centre, Yeson Voice centre, Bella Masena Clinic, Transgender Surgery Institute, McLean Clinic, Kamol Cosmetic Hospital, Dr. Alter Günter Clinic, NYC Health + Hospitals/Jacob, and Ram Manohar Lohia (RML) Hospital. Chettawut Plastic Surgery Center is one of the leading plastic surgery centers catering specifically to transgender individuals. The center performs over 800 procedures annually and has pioneered several surgical techniques for gender transition.

Regional analysis - The Asia Pacific region is expected to witness the fastest growth during the forecast period. Rising awareness regarding gender diversity and more accommodating government policies are attracting medical tourism for sex reassignment surgeries to countries like Thailand. In addition, availability of highly skilled surgeons and relatively affordable treatment costs compared to Western countries is fueling the growth of the Asia Pacific sex reassignment surgery market.

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