Sex Reassignment Surgery Market Share

European Market Analysis

Europe industry is likely to account for largest revenue share of 35% by 2037. The market growth in the region is also expected on account of the rise in disposable income, which can inspire people with gender dysphoria to invest in gender change surgeries. According to the European Commission, in 2022, the EU's gross household-adjusted disposable income was estimated to be worth USD 12570 billion, or 73.3% of the GDP.

The number of people belonging to the LGBTQ community has elevated drastically across the United Kingdom which is propelling the market growth. According to a report by the Office of National Statistics, in 2022, the percentage of women between the ages of 16 and 24 who identified as LGB climbed to 10.6%, while the percentage of men in the same age range who identified as LGB was 7.9% in the UK.

The growth in government initiatives and awareness campaigns by different groups is impacting the market growth of sex reassignment surgery in Germany. According to Human Rights Watch, Germany unveiled the details of a measure that would simplify the process for transgender persons to change their name and gender, doing away with the costly and time-consuming process that has been in place for the previous forty years.

 North American Market Analysis

North America segment is poised to capture sex reassignment surgery market share of over 27% by 2037. and will hold the second position owing to the availability of skilled surgeons and extensive medical coverage. The transgender services sex reassignment surgery market in North America is dynamic and progressive due to ongoing improvements and a growing understanding of the needs of transgender patients. This ensures that transgender people may receive high-quality treatment that is consistent with their identities.

The United States' well-established network of specialty clinics and its claim of an advanced healthcare infrastructure are driving the sex reassignment surgery market growth. According to a report, the United States spent USD 10,948 per person on healthcare in 2020, which is about three times more than the average of other OECD nations. The Congressional Budget Office predicts that major government healthcare spending will climb by 64% from 5.7% of GDP in 2022 to 9.4% of GDP in 2051, indicating a continued high growth in this region.

As it helps people with gender dysphoria transition to their self-identified gender, sex reassignment surgery is becoming more and more popular among the younger transgender population in Canada. For instance, in Canada, one in 300 adults over the age of 15 identifies as transgender or non-binary. Some choose to undergo Sex Reassignment Surgery (SRS) in order to match their gender identity with their physical attributes.