Gynecomastia Procedures Market Forecasts to 2030 - Global Analysis By Procedure Type (Excision, Liposuction, Mastectomy and Minimal Incision Technique), End User and By Geography

According to Stratistics MRC, the Global Gynecomastia Procedures Market is accounted for $898.3 million in 2023 and is expected to reach $1841.7 million by 2030 growing at a CAGR of 10.8% during the forecast period. Gynecomastia, or male breast enlargement, can be brought on by hormone imbalances, certain drugs, obesity, or other medical disorders. Surgical techniques known as gynecomastia operations are designed to help men achieve a more manly and sculpted chest look by removing extra breast tissue. People should speak with a licensed plastic surgeon or other healthcare provider before having any operation done in order to determine the best course of action for their particular situation and desired results.

Market Dynamics:

Driver:

Increasing awareness and acceptance

As gynecomastia becomes better known, more people who are impacted by it learn about their choices for treatment. As more people seek medical intervention to address their worries about appearance and the psychological effects that go along with it, there is a greater demand for gynecomastia operations as a result of this heightened knowledge. Insurance companies and healthcare systems may change to provide coverage for gynecomastia operations. A wider group of people may find these therapies more inexpensive and accessible with improved insurance coverage or financing alternatives driving the growth of the market.

Restraint:

High procedure costs

When it comes to elective operations, patients' decisions are heavily influenced by affordability. Exorbitant expenses may cause patients to seek fewer gynecomastia operations, which would have an impact on the market if people choose not to pursue therapy because of budgetary difficulties. Thus health disparities may be exacerbated by differences in access to gynecomastia treatments brought on by exorbitant pricing. Healthcare disparities may be exacerbated for members of marginalized or economically poor populations who may find it difficult to obtain critical treatments.

Opportunity:

Advancements in medical technology

New gynecomastia treatment approaches are being investigated and developed as a result of ongoing breakthroughs in medical technology. This covers the application of ultrasonic energy, radiofrequency-assisted devices, and other cutting-edge technologies that seek to offer complementary or alternative strategies to conventional surgical techniques. Moreover, patients in rural locations or places with limited access to specialized healthcare facilities now have more access to expert views and consultations thanks to telemedicine and teleconsultation. For those with gynecomastia, this wider reach improves access to information and possible therapies.

Threat:

Cultural stigma and perception

People who are affected with gynecomastia may put off seeking medical attention out of stigma and cultural preconceptions because they are afraid of being judged or embarrassed. Delays can make the illness worse and have an adverse effect on people's physical and emotional health. Lack of knowledge or acceptance of gynecomastia as a legitimate medical problem which is a medically curable condition that many people may be unaware of, which might result in underreporting and a decline in the demand for operations thus hamper the growth of the market.

Covid-19 Impact

In order to concentrate resources for COVID-19 patients, numerous elective operations, including gynecomastia treatments, were postponed or cancelled during the height of the pandemic. In an effort to save medical resources and lower the danger of virus transmission, hospitals and clinics were instructed to restrict the number of unnecessary procedures. Global healthcare systems directed their attention and resources away from elective surgery, such as gynecomastia treatments, in order to manage and control the virus's spread.

The liposuction segment is expected to be the largest during the forecast period

The liposuction segment is estimated to have a lucrative growth, as liposuction is a popular surgical method used to treat cases where the buildup of extra fat is the main cause of male breast enlargement. Liposuction is a popular and successful method in the market for gynecomastia procedures, particularly in situations where the buildup of extra fat is the primary cause of gynecomastia. However, in order to choose the best course of action based on each patient's unique situation and desired results, it is imperative to speak with a licensed plastic surgeon or other healthcare professional.

The cosmetic surgical centers segment is expected to have the highest CAGR during the forecast period

The cosmetic surgical centers segment is anticipated to witness the highest CAGR growth during the forecast period, Cosmetic surgery facilities provide unique operations catered to the specific requirements of each customer. These might involve liposuction, excision of glandular tissue, endoscopic procedures, or a mix of methods according to the patient's condition. Board-certified cosmetic surgeons and medical professionals skilled in gynecomastia treatments work at these clinics. They guarantee the best possible results, patient safety, and professional standards compliance. Throughout the course of therapy, they keep a discreet and professional atmosphere, placing a high value on patient privacy and confidentiality.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the sophisticated healthcare infrastructure, strict regulations, focus on patient safety and quality of care and presence of important companies are the drivers driving the regional expansion. Furthermore, people can seek gynecomastia therapies more easily due to the increased accessibility to healthcare facilities and comparatively larger disposable expenditures. The rivalry in this sector further solidifies the region's supremacy by fostering innovation and ensuring a high level of treatment driving the growth of the market in this region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to rising knowledge of gynecomastia and its treatment choices is developing in the Asia Pacific area, so the stigma associated with gynecomastia is progressively disappearing, leading to more acceptability and a stronger demand for therapies. In addition, the Asia Pacific area has had notable economic expansion in recent times, which has led to a rise in the population's disposable income, hence augmenting market expansion in the area.

Key players in the market

Some of the key players profiled in the Gynecomastia Procedures Market include Sun Pharmaceuticals Industries Ltd, Cadila Pharmaceuticals Ltd, Biochem Pharmaceutical Industries Ltd, Zydus Cadila Healthcare Ltd, Micro Nova Pharmaceuticals Ltd, Kee Pharma Ltd, Dr. Reddy's Laboratories Ltd, Vyaire Medical, MicroAire Surgical Instruments, Bausch Health Companies, Stryker Corporation, Lumenis, Johnson & Johnson, Cutera, GALDERMA, Cynosure and AbbVie Inc.

Key Developments:

In December 2023, AbbVie Inc. and Cerevel Therapeutics announced a definitive agreement under which AbbVie will acquire Cerevel Therapeutics and its robust neuroscience pipeline

In November 2023, Johnson & Johnson MedTech1 announced the completion of the acquisition2 of Laminar, Inc., a privately-held medical device company focused on eliminating the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib).

In July 2023, Cadila Pharma launches Posaconazole for treatment of fungal diseases, The drug has also been recommended as a second line treatment for Mucormycosis or black fungus as it is commonly known.

Procedure Types Covered:

• Excision
• Liposuction
• Mastectomy
• Minimal Incision Technique

End Users Covered:

• Cosmetic Surgical Centers
• Hospitals

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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