Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Gynecomastia Treatment Market Information by Type, Application, and Region - Forecast till 2032", the gynecomastia treatment industry is set to expand from USD 0.88 Billion in 2023 to USD 1.60 Billion by 2032, at an impressive rate of 7.80% from 2023 to 2032.
Market Synopsis
Surgery can treat gynecomastia, which is a disorder in which men acquire extra breast tissue. This may be caused by hormone imbalances, drugs, or health issues. A more manly chest look may be achieved via liposuction, glandular tissue removal, or both. Growing knowledge of cosmetic and aesthetic procedures and lessened stigma have led more men to choose gynecomastia treatments.
Media, celebrity culture, and body image awareness have further raised gynecomastia demand, especially among younger people. Patients may get high-quality, tailored gynecomastia treatment as doctors become experts. Combination operations, which combine liposuction and glandular tissue removal for complete and natural results, are increasingly becoming more popular. This method is for individuals who seek a complete fat and glandular overgrowth remedy.
Market Competitive Landscape:
- Allergan plc
- Pfizer Inc.
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis International AG
- Eli Lilly and Company
- AbbVie Inc.
- Ipsen Pharma
- Endo Pharmaceuticals Inc.
- Sandoz International GmbH
Market USP Covered:
Market Drivers:
Market growth is driven by hormonal imbalances and obesity drugs like anabolic steroids and antidepressants. Lifestyle changes including sedentary lives and bad diets also increase gynecomastia prevalence. The introduction of less invasive treatments like liposuction and glandular tissue excision has also boosted the industry. The high success rate of 85%–95% makes liposuction a popular therapy.
Recent years have seen more gynecomastia instances. It is commonly acknowledged as a prevalent condition. Gynecomastia affects 50-60% of teenage males throughout puberty, however most instances are minor and heal without therapy. Gynecomastia prevalence varies by population. Approximately 65% of adult males may develop gynecomastia. Rates rise with age, especially in older men. According to an April 2022 article, 29,532 gynecomastia surgeries are done in India yearly, showing a substantial number of patients.
Additionally, the rising link between self-esteem and beauty will boost market development. Self-esteem was adversely connected with unhealthy weight in young people, according to an August 2022 Journal of Education and Health Promotion paper. The growing elderly population in industrialized nations also boosts market development. The American Academy of Dermatology Association also reported no serious problems in senior cosmetic surgery patients. Due to healthier lifestyles, body-contouring surgeries like gynecomastia had better effects than younger age groups. However, inadequate reimbursement policies and limited procedure knowledge hinder market development.
Market Restraints:
In the gynecomastia procedures market, patient safety is a matter of great concern. Essentially, there are risks associated with invasive procedures done by non-professionals; this underscores the importance of stringent safety measures. This poses a challenge in terms of affordability and accessibility especially in regions where cosmetic work is not insured for. It could make the global reach of gynecomastia procedures market to be limited only to some particular focus group that might be affected by its geographical location constraints.
Market Segmentation
The Gynecomastia Treatment types are Drugs and Surgical.
The Gynecomastia Treatment Market, with respect to application, includes Retail Pharmacies, Online Pharmacies and Hospital Pharmacies.
Regional Insights
North America has the biggest part of the Gynecomastia Treatment market. This is because of things like better healthcare facilities, more people knowing about the problem, and a greater acceptance of cosmetic treatments. The high demand for gynecomastia treatments is caused by the region's strong healthcare system and a strong focus on health and looks. North America is the leader in the Gynecomastia Treatment market because it has a lot of key market players, well-established medical facilities, and a culture that is open to cosmetic procedures.
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