What lies ahead for the gender reassignment surgery market?

It is expected to grow by $369m at an 11.92% CAGR until 2028.

The global gender reassignment surgery market is expected to witness significant growth until 2028 due to an increase in people opting for sex change procedures and a trend towards medical technology advancements, according to a Technavio report.

The market is projected to grow by $369m at a compound annual growth rate (CAGR) of 11.92% until 2028.

The report revealed that advancements such as minimally invasive surgical techniques, improved medical devices, imaging technologies, and perioperative care practices drive market growth due to benefits such as smaller incisions and faster recovery times.

In line with this, tissue engineering and regenerative medicine hold the potential for enhanced surgery outcomes, whilst anaesthesia and pain management advancements are developed to optimise comfort and reduce complications.

“Healthcare providers leverage these technologies to meet the increasing demand for gender-affirming treatments and improve transgender individuals' quality of life,” Technavio said.

However, high costs associated with the procedure serve as a challenge impeding market growth.

The report stated that surgery costs range from $200k to $800k million depending on the transition type, with hormone therapy and doctor visits adding to the overall expense.

“Furthermore, cultural and societal norms can create stigma and discrimination, making it challenging for individuals to seek out the care they need,” Technavio added.