Growing awareness regarding transgender issues to outline sex reassignment surgery market trends Growing awareness about transgender problems will influence sex reassignment surgery market outlook worldwide, along with favorable government policies associated with gender transition. Expanding patient pool with an inclination towards changing sex from female to male and vice-verse will result in rise in number of sex reassignment procedures. Over the past few years, the number of such patients has increased nearly four times. For instance, as per the recent data by the American Society of Plastic Surgeons, more than 3,000 trans masculine and trans feminine surgeries were conducted in 2016. Rise in number of gender transition surgeries will boost industry growth in the coming years. Sex reassignment surgery market size is forecast to surpass USD 1.5 billion in value by 2026 globally.
Increased number of resources and availability of gender reassignment surgical centers is attracting more transgender population to undergo the knife. As per a study published in the American Journal of Psychiatry, gender reassignment surgery lowers the risk of anxiety, depression or suicidal behavior in transgenders along with imparting long term mental health benefits to them. Rising knowledge pertaining to solutions for transgender issues will encourage sex reassignment surgeries. According to recent studies, the number of gender confirmation surgeries from male to female are 3 times more than female to male surgeries. In 2019, male to female sex reassignment surgery accounted for a revenue of over USD 184.6 million. The growth can be attributed to the rise in medical insurance coverage for male to female fender reassignment procedures along with the availability of expert opinions on the medical necessity of gender transition. Increasing effectiveness of gender transition surgeries is encouraging more population with gender issues to opt for these solutions. The female to male surgeries are divided into chest, genital and facial, operations. The genital surgery encompasses the surgical procedures like phalloplasty and hysterectomy that aids in in transitioning female genitals into male genitals.
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