The global Sex Reassignment Surgery Market is estimated to be valued at US$ 1.7 Bn in 2023 and is expected to exhibit a CAGR of 12.4 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sex reassignment surgery, also known as gender confirmation surgery or gender affirmation surgery, aims to help transgender individuals align their physical appearance and genitalia with their gender identity. Sex reassignment surgery can involve a variety of procedures including chest surgery, genital surgery, and facial reconstruction surgery. There is an increasing need for sex reassignment procedures to help transgender individuals feel comfortable in their own bodies.
Market key trends:
One of the key trends in the sex reassignment surgery market is the rise of online learning and remote surgical training programs. With the advancements in telemedicine and virtual reality technologies, many surgical training schools and medical institutions have started offering online and virtual reality-based training programs for sex reassignment surgery. This allows surgeons to learn surgical techniques virtually from the safety of their own facilities. Through the use of augmented reality tools, they can practice complex surgical procedures even before assisting in actual operations. Such online learning and remote training initiatives are increasing the availability of trained surgeons and boosting access to sex reassignment surgeries globally.
Segment Analysis
The global sex reassignment surgery market is segmented based on surgery type, end-users, and geography. Based on surgery type, the market is divided into genital surgery and breast/chest surgery segments. The genital surgery segment dominated the market in 2022, accounting for around 60% share of the total market. This is because genital surgery procedures help change the biological characteristics of transgender individuals, which is considered as one of the major steps in their transition process.
Key Takeaways
The Global Sex Reassignment Ssurgery Market Share is expected to witness high growth, exhibiting CAGR of 12.4% over the forecast period, due to increasing social acceptance of transgender individuals and growing awareness about sex reassignment surgeries.
Regional analysis
North America dominated the global market in 2022 and is expected to maintain its dominance during the forecast period. This is attributed to factors such as favorable reimbursement policies, presence of key players, and social and legal acceptance of LGBTQ+ individuals. The Asia Pacific region is expected to exhibit the fastest growth over the forecast period due to increasing medical tourism and availability of cost-effective treatment options in countries like Thailand.
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