Market Size of Global Sex Reassignment Surgery Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR (2024 - 2029) | 12.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Gender Reassignment Surgery Market Analysis
The Global Sex Reassignment Surgery Market is expected to register a CAGR of 12.20% during the forecast period.
COVID-19 has impacted the growth pace of the studied market. The American Society of Plastic Surgeons article titled "The Impact of COVID-19 on Gender Dysphoria Patients" published in May 2020 reported that since gender-affirming surgeries are considered one of the elective surgeries, they have been halted or delayed. Additionally, the Plastic and Reconstructive Surgery article titled "The Impact of COVID-19-based Suspension of Surgeries on Plastic Surgery Practices: A Survey of ACAPS Members" published in August 2020, reported that 32% of the studied population performed gender affirmation surgery. It also reported that due to COVID-19, face, chest, and genital surgery were not being offered. It also stated that nearly 8% responded that revision sex reaffirmation surgery was a situation-specific scenario. Such delays in surgeries due to COVID-19 has impacted the growth of the overall market over the pandemic phase.
Factors such as growing awareness about sex reassignment surgery and the burden of gender dysphoria coupled with government initiatives are driving the growth of the market. For instance, the American Society of Plastic Surgeons report titled "Plastic Surgery Statistics Report" 2020 reported that in the United States, in 2020, trans females had 6,368 gender confirmation surgeries performed compared to 5,616 in 2019. It was also reported that in 2020, out of these 1,102 facial surgeries, 4,035 breast or chest surgeries, and 1,231 genital surgeries were performed. Furthermore, according to the International Society of Aesthetic Plastic Surgery 2020 statistics, 9.2 percent of plastic surgeons worldwide performed sex reassignment surgery in 2020. Such a high number of sex confirmation surgeries demonstrates the positive growth of the market throughout the forecast period.
The rising government initiatives of different countries to provide financial aid, equal rights, and support for transgender health are boosting the growth of the market segment. For instance, in November 2020, the government of India framed rules to implement the Transgender Persons (Protection of Rights) Act, 2019, under which the center proposes that at least one government hospital in every state will be equipped to provide free gender reassignment surgery and counseling.
Furthermore, in November 2021, the Australian Greens announced a plan to make gender-affirming healthcare a permanent part of Medicare, with a USD 15 million investment per year to cover the out-of-pocket costs incurred by trans and gender-diverse people in accessing gender-affirming healthcare. Such initiatives taken by the government and public organizations are propelling the growth of the market.
However, the high procedural costs may hinder the growth of the market over the forecast period.
