The global sex reassignment treatment market is anticipated to grow at a CAGR of around 10.8% during the forecast period. Such treatments provide functional abilities and physical appearance to the transgender of sexual characteristics they believe belong to. The increasing awareness and rising social acceptance of transgender, LGBT, and gay communities will give significant growth to the global sex reassignment treatment market during the forecast period. Additionally, supportive reimbursement policies in developed nations including the US, UK, and Germany are giving a boost to the market of sex reassignment treatment. Insurance companies including Aetna and Unicare provide insurance cover for such treatments. 

However, the high cost to avail of this treatment is restraining the market growth. Additionally, lots of therapists are encouraging children with gender dysphoria to undergo irreversible sex reassignment surgeries. This is becoming a major legal challenge for the market as children are not mature enough to take such crucial life-changing decisions. This may severely hamper the mental health of children later.

Impact of COVID-19 Pandemic on Global Sex Reassignment Treatment Market

Various non-essential surgeries and treatments including sex reassignment treatment of the gender dysphoria patients were postponed during the COVID-19 pandemic. This had drastically reduced the sex reassignment treatments globally.  The high cost associated with sex reassignment treatment is another major restraining factor for the market.

Segmental Outlook 

The global sex reassignment treatment market is segmented based on the gender transition into a male to female and female to male. 

Male to Female Transition Segment Holds a Prominent Share in the Global Sex Reassignment Treatment Market

The male to female gender transition segment holds a prominent share in the market as gender dysphoria is more prevalent in males as compared to females. As per the Black's Medical Dictionary, one in 30,000 male births with gender dysphoria, while one in 100,000 female births with gender dysphoria.

For male to female sex conversions, phallectomy, orchiectomy, and vaginoplasty surgeries are used. For female to male conversions, hysterectomy, phalloplasty, and mastectomy surgeries are used. Such surgeries change the physical appearance as well as the functionality of the patients to the opposite gender which the patients desired to become. 

Regional Outlooks

The global sex reassignment treatment market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East & Africa and Latin America).  

Global Sex Reassignment Treatment  Market Growth by Region, 2021-2027

The North America Region Holds a Prominent Share in the Global Sex Reassignment Treatment Market

The North American region is estimated to contribute a prominent share in the sex reassignment treatment market. According to the American Society of Plastic Surgeons, around 11,000 sex reassignment treatments were performed in the US in 2019. This was around 15% higher than in 2018. The European market is expected to grow considerably during the forecast period owing to the legal acceptance of such treatments. Germany and the UK will be the major contributors to this growth due to the LGBT movement in the region.

Market Players Outlook

Some of the companies serving the global sex reassignment treatment market include Bausch & Lomb Inc., Carl Zeiss AG, Fielmann AG, Johnson & Johnson Services, Inc., Safilo Group S.p.A., Adidas AG, Luxottica Group S.p.A., Warby Parker, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global sex reassignment treatment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.