The global neovaginal surgery market size is expected to reach USD 1.41 billion by 2028 according to a new study by Polaris Market research. The report “Neovaginal Surgery Market Share, Size, Trends, Industry Analysis Report, By Product; By Treatment Type (Vaginal Agenesis Treatment, Vaginal Atresia Treatment [McIndoe, and Vecchietti Technique], and Sex Reassignment Surgery); By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
In 2020, the sex reassignment surgeries market segment accounted for the majority of the share, and likely to register a moderate growth rate over the study period. Such a high share is mainly attributed to sex-change surgeries and social acceptance of same-sex marriages in the world.
Several market factors such as positive reimbursement scenarios and increasing demand are the pivotal factors contributing to the market segment’s growth. However, Medicare does not include sex change and other cosmetic surgeries, but few insurance firms in the developed countries are including sex reassignment surgeries in their healthcare coverage plans.
For instance, the Health Insurance Fund (HIF) of Australia, a non-profit organization includes coverage for sex-change surgeries, including neo-vaginal reconstruction. Vaginal agenesis is a rare birth defect with an incidence of 1 in 5,000 women. Several surgical methods, such as Davydov and sigmoid vaginoplasty are usually adopted for new vagina reconstruction in women suffering from agenesis. Sigmoid vaginoplasty is most efficient in low resource settings.
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Asia Pacific neovaginal surgery demand is expected to witness a lucrative growth rate over the assessment period, owing to rising social acceptance, awareness among individuals about sex reassignment surgeries, and rising disposable income of women in countries like India and China.
Moreover, several countries are regulating such practices, however, legal protection will play an important in maintaining demand for such sex-change surgeries driving neovaginal surgery industry growth. In addition, growing awareness among the populace is likely to have a positive impact on the neovaginal surgery industry.
Companies operating in the neovaginal surgery industry include Chettawut Plastic Surgery Center, Vuvatech, Phuket Plastic Surgery Institute (PPSI), González-Fontana, Owen Mumford Ltd., KESSEL Medintim GmbH, and Icahn School of Medicine at Mount Sinai. The market companies in the neovaginal surgery industry are adopting several strategies such mergers & acquisitions, joint venture to gain market share.
Polaris Market Research has segmented the neovaginal surgery market report on the basis of product, treatment type, and region:
Neovaginal Surgery, Product Outlook (Revenue – USD Million, 2016 – 2028)
- Vaginal Dilators
- Vaginal Stents
- Laparoscopic Neovaginal Surgeries Kits
Neovaginal Surgery, Treatment Type Outlook (Revenue – USD Million, 2016 – 2028)
- Vaginal Agenesis Treatment
- Vaginal Atresia Treatment
- McIndoe Technique
- Vecchietti Technique
- Sex Reassignment Surgery
Neovaginal Surgery, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa