PUBLISHER: Grand View Research | PRODUCT CODE: 1404882
PUBLISHER: Grand View Research | PRODUCT CODE: 1404882
The global neovaginal surgery market size is expected to reach USD 1.67 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.04% from 2024 to 2030. The primary drivers of the market are insurance and government reimbursement policies that offer support for these surgeries, and the increasing social acceptance of transgender individuals. Researchers are concentrating on creating innovative alternatives to traditional skin grafts for neovaginal construction. These innovations enable the procedure to be performed more efficiently and at a lower cost than conventional surgical methods.
Certain individuals choose Sex Reassignment Surgery (SRS) to bring their physical characteristics in line with their gender identity. As per the 2021 annual report from the Mount Sinai Center for Transgender Medicine and Surgery, approximately 41.7% of individuals within the transfeminine population between the ages of 25 and 34, and 25.8% within the age group of 15 to 24, have undergone Sex Reassignment Surgery (SRS). The Mount Sinai Hospital carried out approximately 861 SRS, with 639 specifically geared toward feminization. Individuals within the transmasculine population between the ages of 25 and 34 are more inclined to undergo gender-affirming surgeries, constituting approximately 41% of all the transfeminine surgeries performed.