Sex reassignment surgery, also called gender confirmation surgery or gender affirmation surgery, involves surgical procedures to alter primary and/or secondary sex characteristics to establish a person’s identity as the opposite sex. The objective is to provide cosmetic transformation of biological male genitals into genitals that resemble biological female genitals or vice versa. There are various surgical procedures such as breast implantation or mastectomy, and genital surgical procedures such as orchiectomy, penectomy, vaginoplasty, phalloplasty, and metoidioplasty, which help align the physical characteristics of a person with their sense of gender identity. The rising number of transgender individuals worldwide along with growing transgender social movements and activism have led to increased acceptance, visibility and legal rights of transgender people, thereby driving the demand for sex reassignment surgeries.
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:
Over the past few years, more people have openly identified as transgender and have sought ways to fully transition from one gender to another. This has led to a spike in the number of sex reassignment surgeries being performed globally each year. According to the Williams Institute, an American think tank researching sexual orientation and gender identity law and public policy, there are approximately 1.4 million Americans that identify as transgender. Transgender rights activism and legal reforms across many countries have increased access to gender-affirming healthcare services like sex reassignment surgery. For instance, on June 15, 2022, the US state of Oklahoma banned almost all abortions but carved out an exception for procedures done to save the life of the pregnant person – including abortions done for pregnancies resulting from rape or incest. This clearly shows growing acceptance of transgender rights. All these factors are significantly driving the demand for sex reassignment surgeries worldwide.
SWOT Analysis
Strength: Advancement in gender affirmation surgeries has improved surgical outcomes and reduced risks. Growing cultural acceptance of trans individuals has increased demand.
Weakness: Limited trained surgeons especially in developing regions. High costs of surgeries are still a barrier for many.
Opportunity: Growing awareness campaigns help address stigma and improve access to care. Emerging markets yet to be tapped fully represent new opportunities.
Threats: Backlash from conservative sections in some countries. Risk of postoperative complications if not performed by experienced surgeons.
Key Takeaways
The global sex reassignment surgery market is expected to witness high growth. 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.
Regional analysis comprises
North America currently dominates the market and is expected to continue its dominance over the forecast period. This can be attributed to growing awareness about trans issues, favorable reimbursement policies, and presence of major players. Asia Pacific is expected to witness fastest growth aided by rising LGBTQ acceptance, growing middle class, and initiatives by surgeons to educate and improve access to care.
Key players related content comprises
Key players operating in the sex reassignment surgery market are The Johns Hopkins Hospital, Mount Sinai Centre for Transgender Medicine and Surgery (CTMS), Bupa Cromwell Hospital, and Yeson Voice Center. These players are focused on expanding surgical capabilities and training more surgeons to address the growing demand worldwide. They are also investing in building awareness to promote cultural acceptance.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
