(MENAFN- PR Newswire)
NEW YORK, June 28, 2024 /PRNewswire/ -- The global
gender reassignment surgery market
size is estimated to grow by USD 369 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over
11.92%
during the forecast period. Increase in number of people opting for sex change surgeries globally
is driving market growth,
with a trend towards
advancements in medical technology. However,
high cost of surgeries
poses a challenge. Key market players include Andrew Ives., Boston Childrens Hospital, Boston Medical Center, Chettawut Plastic Surgery Center, CNY Cosmetic and Reconstructive Surgery, Crane Center, Icahn School of Medicine at Mount Sinai, IVAN MANERO CLINIC S.L., Moein Surgical Arts, Oregon Health and Science University, Phuket International Aesthetic Centre PIAC, Plastic Surgery Group of Rochester, Regents of the University of Michigan, Rumer Cosmetic Surgery, Sava Perovic Foundation Surgery, The Johns Hopkins Health System Corp., Transgender Surgery Institute, and University of Pennsylvania Health System.
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Technavio has announced its latest market research report titled Global gender reassignment surgery market 2024-2028
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| Gender Reassignment Surgery Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 11.92% |
| Market growth 2024-2028 |
USD 369 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
9.22 |
| Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
| Performing market contribution |
North America at 50% |
| Key countries |
US, UK, Germany, Canada, and Thailand |
| Key companies profiled |
Andrew Ives., Boston Childrens Hospital, Boston Medical Center, Chettawut Plastic Surgery Center, CNY Cosmetic and Reconstructive Surgery, Crane Center, Icahn School of Medicine at Mount Sinai, IVAN MANERO CLINIC S.L., Moein Surgical Arts, Oregon Health and Science University, Phuket International Aesthetic Centre PIAC, Plastic Surgery Group of Rochester, Regents of the University of Michigan, Rumer Cosmetic Surgery, Sava Perovic Foundation Surgery, The Johns Hopkins Health System Corp., Transgender Surgery Institute, and University of Pennsylvania Health System |
Market Driver
The global gender reassignment surgery market is experiencing significant growth due to advancements in medical technology. Innovations include minimally invasive surgical techniques, improved medical devices, imaging technologies, and perioperative care practices. These advancements offer benefits such as smaller incisions, faster recovery times, and enhanced patient experiences. Tissue engineering and regenerative medicine also hold promise for enhancing surgery outcomes. Anesthesia and pain management advancements optimize patient comfort and reduce complications, contributing to market growth. Healthcare providers leverage these technologies to meet the increasing demand for gender-affirming treatments and improve transgender individuals' quality of life.
The gender reassignment surgery market is experiencing significant growth due to increasing acceptance and awareness of transgender rights. Quite a number of people undergo this procedure to align their physical appearance with their gender identity. The services involved include hormone therapy, surgeries such as chest reconstruction and genital reassignment, and other related procedures. The cost of these procedures can be substantial, but many countries offer coverage under their healthcare systems. The industry is also seeing advancements in technology and techniques, making the procedures safer and more effective. Additionally, the availability of financing options and support groups is helping more individuals access these services. Overall, the gender reassignment surgery market is poised for continued expansion in the coming years.
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Market
Challenges
The gender reassignment surgery market involves significant expenses, including hormone therapy, counseling, and living as a target gender in the year preceding the procedure. The cost of the surgery itself ranges from USD0.2-USD0.8 million, depending on the transition type. Ongoing costs, such as hormone therapy and doctor visits, add to the overall expense. A year of therapy with a psychologist, required before physical transition, costs USD1,000-USD1,500 per session, totaling USD48,000-USD72,000. These high costs may hinder market growth during the forecast period.
The Gender Reassignment Surgery market faces several challenges. Healthcare providers offer various procedures such as hormone therapy, surgeries, and counseling services. However, access to these services can be a concern for many individuals. Costs for gender reassignment surgeries can be high, making it difficult for some to afford. Additionally, there are regulatory and legal challenges that can impact the availability and affordability of these services. Furthermore, cultural and societal norms can create stigma and discrimination, making it challenging for individuals to seek out the care they need. Despite these challenges, the market continues to grow as more individuals seek gender affirming care. Companies must address these challenges to provide accessible and affordable options for those in need.
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Segment Overview
This gender reassignment surgery market report extensively covers market segmentation by
Type
1.1 Male to female
1.2 Female to male
End-user
2.1 Hospitals
2.2 Clinics
Geography
3.1 North America
3.2 Europe
3.3 Asia
3.4 Rest of World (ROW)
1.1 Male to female-
The gender reassignment surgery market is experiencing significant growth due to increasing societal acceptance and legal recognition of transgender individuals. Companies are investing in research and development of advanced surgical techniques and technologies to cater to this population's unique needs. The market is expected to expand at a steady pace, driven by rising demand and improving accessibility to gender affirming procedures. Businesses are also focusing on providing comprehensive care, including pre- and post-operative support, to ensure positive patient outcomes. Overall, the gender reassignment surgery market presents a promising opportunity for growth in the healthcare sector.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report
Research Analysis
The Gender Reassignment Surgery Market encompasses various healthcare policies and cultural attitudes towards sex change procedures. These procedures include surgical interventions such as genital reconstruction through hysterectomy and phalloplasty, as well as facial surgeries. From a medical perspective, gender reassignment involves hormone therapy and mental health-related considerations. Ethical concerns and affordability are significant factors influencing the comprehensive healthcare approach to gender perspectives. Medical innovations continue to advance, offering new solutions for those seeking sex reassignment surgery. The population requiring these services relies on specialized healthcare centers to provide access to these essential procedures.
Market Research Overview
The Gender Reassignment Surgery market refers to the industry dedicated to providing surgical solutions for individuals seeking to align their physical identity with their gender identity. This market encompasses a range of procedures, including but not limited to, hormone therapy, gender affirming surgeries such as orchiectomy, mastectomy, and vaginoplasty, and other related treatments. The market caters to the needs of transgender and gender non-conforming individuals, providing them with essential medical services to help them live authentically. The demand for gender reassignment surgeries is on the rise due to increasing awareness and acceptance of transgender rights, as well as advancements in medical technology. The market is expected to grow significantly in the coming years, offering new opportunities for healthcare professionals and organizations specializing in gender affirming care.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Male To Female
Female To Male
End-user
Geography
North America
Europe
Asia
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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SOURCE Technavio
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