PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392017
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392017
The global sex reassignment surgery market size is expected to reach US$ 1,578.1 Mn by 2030, from US$ 696.2 Mn in 2023, at a CAGR of 12.4% during the forecast period.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 696.2 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 12.40% | 2030 Value Projection: | US$ 1,578.1 Mn |
Sex reassignment surgery, also known as gender confirmation surgery or gender-affirming surgery, is a medical procedure that helps individuals align their physical traits with their gender identity. It is a critical aspect of transgender healthcare and plays a significant role in improving the quality of life for transgender individuals. This surgical procedure involves altering the primary and secondary sexual characteristics to match the identified gender. It includes procedures such as breast augmentation or removal, facial feminization or masculinization, genital reconstruction, and voice modification. The World Professional Association for Transgender Health (WPATH) provides standards of care that most healthcare providers follow when treating transgender individuals. Globally, there has been a rise in the desire for sex reassignment surgery due to advancements in surgical methods and results, as well as increased societal and legal acceptance of transgender people. However, access to these procedures can be limited due to factors such as high costs, a lack of insurance coverage, and a shortage of trained healthcare providers. Key players in the market for sex reassignment surgery include hospitals, clinics, and medical professionals who specialize in these procedures. The market also includes companies that manufacture surgical instruments and medical devices used in these procedures.
The increasing launch of awareness campaigns is expected to drive the growth of the global sex reassignment surgery market over the forecast period. For instance, in March 2023, Joint United Nations Programme on HIV/Aids (UNAIDS) announced the launch of a campaign to advocate for the rights of transgender children.
Nevertheless, the market offers various opportunities for growth. The increasing awareness and acceptance of transgender individuals in society, along with the rising demand for comprehensive transgender healthcare services, create a favorable market environment. Additionally, collaborations between healthcare providers, policymakers, and advocacy groups can help improve access to gender-affirming surgeries and reduce healthcare disparities.