Sex Reassignment Surgery Market Size by Gender Transition (Male to Female {Facial, Breast, Genitals [Phallectomy, Orchiectomy, Vaginoplasty]}, Female to Male {Facial, Chest, Genitals [Hysterectomy, Phalloplasty]}), Industry Analysis Report, Regional Outlo

Sex Reassignment Surgery Market Size by Gender Transition (Male to Female {Facial, Breast, Genitals [Phallectomy, Orchiectomy, Vaginoplasty]}, Female to Male {Facial, Chest, Genitals [Hysterectomy, Phalloplasty]}), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032

Sex Reassignment Surgery Market is anticipated to demonstrate substantial growth through 2032, due to the launch of favorable government policies. To cite an instance, in August 2022, the union government of India announced that transgender persons would now be liable for yearly health insurance of Rs 5 lakh each, including the costs incurred during sex reassignment surgeries, under the Ayushman Bharat scheme.

While the industry is gaining substantial traction, sex change regrets and depression incidences encountered post surgeries might hamper the market development. Experts anticipate that approximately 1% of the transgender individuals regret undergoing gender affirmation surgery.

In contrast, transgender individuals who opt for sex reassignment surgery experience long-term mental health benefits, which is anticipated to positively impact the overall market outlook in the foreseeable future. With rising public acceptability, gender-affirming surgery (GAS) is increasingly acknowledged as a therapeutic intervention and a medical need.

The competitive landscape of the sex reassignment surgery industry is highly intact. As a result, the leading players operating in the industry are rigorously working on strategic efforts, such as healthcare programs, R&D investments, mergers, acquisitions, partnerships, and new product launches, to strengthen their foothold. To cite an instance, in December 2022, the University of Southern California's Keck Medicine unveiled the Gender-Affirming Care Program to satisfy the needs of the transgender, nonbinary, and gender-diverse community. This program includes services ranging from routine health care to gender-affirming hormone therapy and surgery.

Overall, the sex reassignment surgery industry is segmented in terms of gender transition and region.

Considering the gender transition, the male-to-female segment is projected to record significant returns throughout 2023–2032, owing to the deteriorating mental health of transgender people and favorable government policies. Besides, the rising incidences of gender dysphoria and other medical conditions will also act as a key factor propelling the male to female sex reassignment surgery demand globally. As per the Diagnostic and Statistical Manual of Mental Disorders-5th Edition, the incidence of gender dysphoria is 0.005 to 0.014% in adult natal males.

In terms of the regional context, the North America sex reassignment surgery market is anticipated to hold a notable revenue share during the estimated timeframe. The regional growth can be largely attributed to the favorable regulatory scenario and increasing awareness regarding gender dysphoria. Constant technological innovations, research & developments, and investments made by the leading players in the region, coupled with increasing healthcare spending, are expected to augment North America sex reassignment surgery market expansion.

In addition, well-developed healthcare infrastructure and constantly surging demand for gender affirmation surgeries will also help to augment the overall industry's outlook. As per credible reports, there are approximately 9,000 transgender surgeries performed annually across the US.