Selbyville, Delaware, March 31, 2020 (GLOBE NEWSWIRE) —
Global Market Insights, Inc. has recently added a new report on sex reassignment surgery market which estimates the global market valuation for sex reassignment surgery will exceed US$ 1.5 billion by 2026. Rise in number of sex reassignment surgeries across the globe will be a major factor driving factor. The growth of market can be attributed to the increasing patient pool with an inclination towards changing sex from male to female as well as female to male. The number of such patients has increased nearly four times in the past years.
Growing public awareness on transgender problems will enhance the growth of sex reassignment surgery market. For instance, Michigan State University’s College of Social Science Centers researched on the habits of transgender community. Moreover, increasing number of resources as well as availability of gender reassignment surgical centers will boost the market growth over the forecast period.
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The male to female gender reassignment surgery was valued at USD 184.6 million in 2019. The segmental growth is attributed to the increasing insurance coverage for male to female sex reassignment surgical procedures and growing expert opinions on the medical necessity of gender transition. According to the findings from a recent study, the gender confirmation surgeries from male to female are three times more than female to male surgeries. Thus, the above-mentioned factors will boost the segment growth in the projected years.
The genital surgery is further divided into phallectomy, orchiectomy and vaginoplasty. These surgical procedures are carried out for reshaping the male genitals into female genitals by changing appearance as well as functions. Also, the female to male surgeries are classified into facial, chest and genital surgeries. The genital surgery involves the surgical procedures such as hysterectomy and phalloplasty that help in transitioning female genitals into male genitals. Thus, increasing effectiveness of gender transition surgeries will contribute to the market growth in the future.
U.S. sex reassignment surgery market is estimated to expand at a CAGR of 24.5% over the analysis timeframe. The high growth rate can be attributed to the continuously growing gender reassignment surgeries in the U.S. For instance, according to a recent data by The American Society of Plastic Surgeons, in 2016, there is an increase of around 20% sex transition surgical procedures as compared to previous year. Also, transgender men in the developed countries are inclined to undergo sex change surgery. Hence, the aforementioned factors will in turn trigger the demand for sex reassignment surgeries, thereby fueling the industry growth.
Browse key industry insights spread across 81 pages with 134 market data tables & 6 figures & charts from the report, “Sex Reassignment Surgery Market Share & Forecast, 2020– 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/sex-reassignment-surgery-market
Some major findings of the sex reassignment surgery market report include:
- Rise in number of gender confirmation surgical procedures across the world will positively impact the global sex reassignment surgery market.
- Growing public awareness on transgender problems will boost the demand for sex reassignment surgery market.
- Service providers are emphasizing on complex gender reassignment surgical procedure and offer essential advanced care to patient, thereby boosting more customers across the regions that in turn will propel the market growth.
A few major players operating in the sex reassignment surgery market share are Sava Perovic Foundation Surgery, Yeson Voice Center, Transgender Surgery Institute of Southern California, Bupa Cromwell Hospital, Rumer cosmetics surgery, Mount Sinai Center for Transgender Medicine and Surgery (CTMS), Phuket International Aesthetic Center (PIAC) and Chettawut Plastic Surgery Center. These service providers focus on innovative surgery offerings and state-of-the-art facilities to increase their market presence. This will in turn trigger the industry growth, thereby attracting a large patient pool.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Sex reassignment surgery industry 360⁰ synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Gender transition trends
2.1.3. Regional trends
Chapter 3. Sex Reassignment Surgery Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.1.1. Worldwide increase in number of people opting for sex change surgeries
3.3.1.2. Favorable government policies in the United States
3.3.1.3. Rising awareness among the transgender population regarding sex change surgeries
3.3.2. Industry pitfalls & challenges
3.3.2.1. High cost of the procedures
3.3.2.2. Rise in incidence of sex change regret
3.4. Growth potential analysis
3.4.1. By gender transition
3.5. Porter’s analysis
3.6. Competitive landscape, 2018
3.6.1. Strategy dashboard
3.7. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.
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