U.S. Sex Reassignment Surgery Market Growth & Trends
The U.S. sex reassignment surgery market size is expected to reach USD 5.0 billion by 2030, expanding at a CAGR of 11.23%, according to a new report by Grand View Research, Inc. Growing public acceptance, rising insurance coverage, and increasing medical insight are expected to boost the demand and enhance access to sex reassignment surgeries in the U.S.
Government bodies are implementing measures to expand access to gender reassignment surgery. Health insurance companies and large corporations are increasingly covering gender-altering operations. According to a poll by Willis Towers Watson, a growing number of firms are implementing transgender medical benefits. A federal prisoner in Wisconsin won her lawsuit for gender transition surgery in December 2020, and in May 2021, the Utah Supreme Court upheld the ability of transgender individuals to amend their sex designation on the birth certificate.
The COVID-19 pandemic has drastically affected the market dynamics, with the cancelation of elective procedures, postponement of opted surgeries, and others. The surgical industry is reviving slowly and new surgery inquiries are increasing for gender affirmation surgeries. Plastic surgeons have seen a drastic decrease in the variety of procedures and services they are allowed to offer during the pandemic. Those who conducted primarily gender affirmation, cosmetic, or other regular elective treatments were affected more than those who performed reconstructive, craniofacial, and hand surgery.
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U.S. Sex Reassignment Surgery Market Report Highlights
By gender transition, the female-to-male segment held the largest revenue share in 2021. Demand for sex reassignment surgery is increasing due to an increase in the number of people opting for sex-change surgeries and growing awareness and acceptance of the transgender community
According to the 2020 plastic surgery statistics by the American Society of Plastic Surgeons, breast or chest surgeries are major contributors to the growth of the female-to-male segment
The increasing number of sex reassignment surgeries is among the major factors driving the growth of the sex reassignment surgery market. Rise is seen among the patients choosing to change their sex from female to male and male to female, which has increased nearly four times ever since the last decade
The male-to-female transition surgery is expected to witness the fastest growth during the forecast period owing to the high prevalence of gender dysphoria among males
The companies operating in the market are engaging in new facility launches to strengthen their market presence. For instance, in September 2020, seven hospital facilities within the Mount Sinai Health System have been recognized as national leaders in LGBTQ health care equality by the Human Rights Campaign Foundation’s 2020 Healthcare Equality Index (HEI)
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