Originally published on Technavio:The U.S. Sex Reassignment Surgery Market is poised for substantial growth, with an estimated Compound Annual Growth Rate (CAGR) of 10.84% between 2022 and 2027, resulting in a market size expansion of USD 125.78 million during this forecast period.

Market Overview

US Sex Reassignment Surgery Market Forecast Report 2023-2027:
The market's growth is anticipated to be fueled by a surge in sex change surgeries conducted in the U.S., with an estimated annual range between 100 and 500 procedures. Data from the American Society of Plastic Surgeons (ASPS) in 2020 revealed a notable increase in gender confirmation surgeries, particularly for trans females, reaching 6,368 procedures compared to 5,616 in 2019. The breakdown included 1,231 genital surgeries, 4,035 breast or chest surgeries, and 1,102 facial surgeries. This upward trend is expected to contribute to increased surgical procedures in the U.S., thereby driving market growth.

Segmentation by Type and End-user

Type Analysis
The male-to-female segment is poised for significant market share growth during the forecast period. This surgical procedure involves transforming male genitals into a form resembling female genitalia. Patients typically undergo female hormone therapy before surgery to enhance femininity. Associated surgeries in this segment include vaginoplasty, facial hair removal, breast augmentation, facial feminization surgery, and the crucial orchiectomy, involving testicle removal. The irreversible nature of sex change operations underscores the importance of careful consideration. This segment, valued at USD 89.08 million in 2017, is expected to witness continued growth, fueled by diverse surgical options and increasing demand.

Hospitals Segment:
Hospitals emerge as a major end-user of the market, driven by the escalating demand for sex reassignment surgeries. Increasing acceptance of transgender rights in healthcare has prompted hospitals to expand their care for this demographic. Notable medical facilities, such as the Cleveland Clinic's Transgender Surgery and Medicine Program and the Mount Sinai Center for Transgender Medicine and Surgery in New York, offer comprehensive gender affirmation care, including surgeries like breast augmentation, facial feminization, and genital reconstruction. This heightened medical focus on transgender care is expected to drive the growth of the hospitals segment in the U.S.

Key Sex Reassignment Surgery Market Players in US

Companies are adopting various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to strengthen their market presence.

Key Drivers

The surge in the number of individuals opting for sex change surgeries in the U.S. serves as a major driver for market growth. Data suggests an annual range of 100 to 500 procedures, with trans females undergoing 6,368 gender confirmation surgeries in 2020, marking an increase from 5,616 in 2019. This upward trajectory is expected to contribute to market growth during the forecast period.

Significant Trends

A significant trend influencing the market is the rising awareness among the transgender population about surgeries. Increased visibility, improved societal understanding, and social media's role have contributed to the growing demand for gender-affirming surgeries. Transgender individuals now have the freedom to explore their gender identity through fertility consultations, fostering awareness and acceptance.

Major Challenges

The side effects of surgeries present a considerable challenge, impeding market growth. Complications from procedures such as facial, top, or bottom surgeries can result in adverse effects, including the closure of the vaginal opening, rejection of skin grafts, and difficulty in urinating. These complications can have a profound impact on patients' lives, affecting their quality of life and acting as a hindrance to market growth.

Key Customer Landscape

The market report includes the adoption lifecycle, covering innovators to laggards, and analyzes adoption rates based on penetration in different regions. Key purchase criteria and drivers of price sensitivity are outlined, aiding companies in evaluating and developing growth strategies.

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In June 2020, the U.S. witnessed a substantial rise in gender affirmation surgeries, including Sex Reassignment Surgery (SRS), serving transgender individuals across various age groups. The Mount Sinai Center for Transgender Medicine and Surgery reported growing demand, particularly among transfeminine individuals aged 25 to 34 and 15 to 24, indicating increased awareness among the younger population. Despite challenges in insurance coverage, government reimbursement policies like those under the Affordable Care Act support transgender beneficiaries, facilitating procedures such as hysterectomy and augmentation mammoplasty. The mastectomy segment, addressing assigned sex at birth, is experiencing substantial growth, propelled by advancements, Medicare coverage, and increasing acceptance within the LGBT community.

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