Report Ocean conducted research on the global Neovaginal Surgery market, some important discoveries were made. First, the market is expanding steadily, and over the coming years, demand is expected to rise. Second, there is a lot of market competition, yet only a few major businesses control the sector. Last but not least, there are numerous chances for market innovation and improvement, notably in terms of product offerings and marketing tactics.
The neovaginal surgery market size is expected to reach USD 1.33 billion by 2028 according to a new study by Report Ocean. Report Ocean presents a new report on neovaginal surgery market size, share, growth, industry trends, and forecast 2028, covering various industry elements and growth trends helpful for predicting the market’s future.
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The report “Neovaginal Surgery Market – By Product; By Treatment Type (Vaginal Agenesis Treatment, Vaginal Atresia Treatment [McIndoe, and Vecchietti Technique], and Sex Reassignment Surgery); By Regions; Segment Forecast – 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.
COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the neovaginal surgery market also experienced a slowdown. Statista estimates that the neovaginal surgery market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the neovaginal surgery market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the neovaginal surgery market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
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.
Major Players:
Companies operating in the neovaginal surgery industry include Chettawut Plastic Surgery Center, Vuvatech, Phuket Plastic Surgery Institute (PPSI), Gonzalez-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.
Neovaginal Surgery, Product Outlook (Revenue – USD Million, 2016 – 2028)
Laparoscopic Neovaginal Surgeries Kits
Vaginal Dilators
Vaginal Stents
Neovaginal Surgery, Treatment Type Outlook (Revenue – USD Million, 2016 – 2028)
Sex Reassignment Surgery
Vaginal Agenesis Treatment
Vaginal Atresia Treatment
McIndoe Technique
Vecchietti Technique
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Neovaginal Surgery, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Spain
Netherlands
Austria
Asia Pacific
China
India
Japan
Thailand
South Korea
Indonesia
Central & South America
Mexico
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
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