June 11, 2020
According to the research report titled ‘Sex Reassignment Surgery Market Size By Gender Transition, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report LLC, global sex reassignment surgery market is expected to witness substantial growth during 2020-2026.
Sex reassignment surgery market is gaining global traction due to favorable government policies and rise in number of individuals choosing to have sex transition surgeries around the globe.
The surgery involves changing genitalia of an individual from one gender to another. Sex reassignment surgery is also known by names like sex change operation, genital reconstruction surgery, sex affirmation procedure and gender reassignment surgery as well as referred to as genitoplasty procedures clinically.
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The medical professionals must assure two things before performing sex reassignment surgery. One is that the patients are formally diagnosed with gender dysphoria and secondly, ensure that they have undergone counselling, to determine if they are ready to go through the gender transition surgery.
Key reason for undergoing gender transition is to match the physical gender of the patient with what they intuitively feel their true gender is. Rising prevalence of gender dysphoria, also known as gender identity disorder among individuals is boosting the demand for sex reassignment surgery.
Notably, gender transition is very complex surgery, but one must go through it to achieve the desired results, which may vary from person to person. The surgical requirements are individualistic and depend on the desired appearance as the end result.
According to the report, sex reassignment surgery market landscape is classified based on gender transition scope and regional hierarchy.
With respect to gender transition, the market is divided into female to male and male to female. The former segment was valued at USD 130 million in 2019 and is anticipated to grow with a CAGR of 24% during 2020-2026. Female to male sex reassignment involves changing female genitalia to male genitalia, known as masculinizing genitoplasty. Tissues from labia are used to form a penis. The procedure further includes testosterone therapy, mastectomy, hysterectomy and lastly, cosmetic surgeries to impart the masculine appearance.
Considering the regional overview, Latin America sex reassignment surgery market amassed USD 26.6 million in 2019 and is expected to expand at 26.1% CAGR in the next few years.
Meanwhile, MEA sex reassignment surgery market was worth USD 6.3 million in 2019 and is estimated to record a y-o-y growth rate of 30.3% through 2026.
Key players in global sex reassignment surgery market are Chettawut Plastic Surgery Centre, Sava Perovic Foundation Surgery, Rumercosmetics, Transgender Surgery Institute of Southern California, Phuket International Aesthetic Centre (PIAC), Yeson Voice Center, and Bupa Cromwell Hospital.