Gynecomastia Procedures Market Size, Share & Trends Analysis Report By Age Group (18-40, Above 40), By Procedure Type (Liposuction, Excision), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global gynecomastia procedures market size was estimated at USD 810.8 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 8.8% from 2023 to 2030. For hormonal imbalances and obesity, the use of medications such as anabolic steroids and antidepressants is the major factor that drives market growth. Moreover, changing lifestyles, such as sedentary habits and poor dietary intake, further contribute to the development of gynecomastia prevalence. In addition, advancement in treatment options, such as the development of minimally invasive procedures such as liposuction and glandular tissue excision, has further contributed to the growth of the market. The demand for a liposuction procedure is high as it offers a success rate of 85% - 95%, making it a reliable treatment option.

The cases of gynecomastia have surged in recent years. Thus, it is widely recognized as a relatively common condition. Studies have reported that gynecomastia affects approximately 50-60% of adolescent boys during puberty to some degree, although most cases are mild and resolve on their own without any treatment. Moreover, the prevalence of gynecomastia varies depending on the population studied. Estimates suggest that approximately 65% of adult men may experience gynecomastia at some point in their lives. The prevalence tends to increase with age, with higher rates observed in elderly males. As per an article published in April 2022, in India, approximately 29,532 gynecomastia procedures are performed annually, indicating a large number of patients having gynecomastia.

Moreover, the growing association of self-esteem with physical appearance will drive market growth. According to an article published by the Journal of Education and Health Promotion in August 2022, self-esteem was negatively associated with unhealthy weight in young adults. Furthermore, the increasing prevalence of the geriatric population in developed countries positively aids market growth. In addition, the American Academy of Dermatology Association stated that no severe complications were noticed in the elderly undergoing cosmetic surgeries. Moreover, body-contouring procedures such as gynecomastia had improved procedural outcomes than the younger age group owing to a better lifestyle. However, factors such as poor reimbursement policies and low awareness about the procedure impede market growth.

The COVID-19 pandemic had several effects on the market for gynecomastia. Non-essential surgeries, including those for gynecomastia, were often postponed or canceled during the peak of the pandemic, leading to a temporary decline in surgical procedures. Patient visits and diagnoses related to gynecomastia drastically decreased during the peak of COVID-19 as individuals postponed or canceled routine check-ups, thereby negatively impacting the market growth.

Age Group Insights

Based on age group, the market has been segmented into 18-40 years age and above 40 years age. The above 40 years segment dominates the market with the highest share of 61.0% in 2022 and is projected to have the fastest growth over the forecast period. The dominance of the above-40 age group in the market for gynecomastia can be attributed to factors such as hormonal changes, cumulative effects of risk factors over time, medication use, health conditions prevalent in elder individuals, and greater financial capability. With aging, hormonal changes naturally occur in men, leading to a higher risk of developing gynecomastia. The decline in testosterone levels and an increase in body fat contribute to the development of breast tissue, making elderly individuals more susceptible to gynecomastia.

On the other hand, the 18-40 age segment is also expected to showcase lucrative growth over the forecast period. Gynecomastia commonly occurs during puberty when hormonal changes are at their peak.This age group represents the period when puberty typically occurs, resulting in a higher incidence of gynecomastia cases. Moreover, the 18-40 age group may be more aware of gynecomastia as societal awareness grows, thus, individuals in this age range may be more likely to seek medical intervention for gynecomastia concerns, leading to a higher representation in the market.

Procedure Type Insights

Based on procedure type, the market has been segmented into liposuction and excision. The excision procedure segment dominates the market with a revenue share of 54.2% in 2022. In cases where gynecomastia involves the enlargement of glandular tissue rather than just excess fat, surgical excision is more effective than a liposuction procedure. Moreover , the advancements in surgical techniques for glandular tissue excision have contributed to the increasing popularity of excision surgery. Surgeons now have access to refined and precise methods that allow for more effective removal of glandular tissue with minimal scarring. These advancements have increased the confidence of patients and surgeons in excision surgery as a viable treatment option.

On the other hand, liposuction is expected to show the fastest growth over the forecast period with a CAGR of 9.0% due to it being a less invasive procedure than excision surgery. Liposuction involves making small incisions through which cannulas are inserted to suction out excess fat. The minimally invasive nature of liposuction appeals to patients as it often results in smaller scars, quicker recovery times, and reduced post-operative discomfort compared to excision surgery.

End-use Insights

Based on end-user, the market has been segmented into hospitals and cosmetic surgery centers. The cosmetic surgery centers segment held the largest market share of over 63.8% in 2022, owing to their specialization in various aesthetic procedures, including those related to body contouring and breast surgery. Surgeons in these centers often have extensive experience and expertise in performing gynecomastia procedures, ensuring optimal outcomes and patient satisfaction. Moreover, cosmetic surgery centers are more focused on aesthetic outcomes as they understand the impact of gynecomastia on a patient's self-confidence and body image and strive to provide more natural and balanced results, thereby contributing to the rising demand for cosmetic surgery centers.

Furthermore, various long-term patient trial data confirm the safety of patients in these centers. As per the American Society of Plastic Surgeons, a complication rate of under 1% was identified in cosmetic procedures performed outside the hospital. Moreover, growing establishments and the introduction of technologically advanced clinics will provide lucrative opportunities for the Brachioplasty market. For instance, as per the National Institute of Health, 82% of cosmetic procedures performed in the U.S. in 2020 were handled in outpatient surgical centers.

On the other hand, the hospital segment is also anticipated to have lucrative growth over the forecast period. Hospitals provide comprehensive healthcare facilities, including specialized departments and equipment for the treatment of various medical conditions. With the growing recognition of gynecomastia as a medical concern, hospitals have expanded their services to include gynecomastia treatment options, ensuring that patients can access specialized care in a hospital setting.

Regional Insights

North America held the largest market share of over 34.5% in 2022. The factors that drive the regional growth are advanced healthcare infrastructure, stringent regulatory environment, emphasis on patient safety and quality of care,and the presence of key players. Moreover, the greater affordability of healthcare services and relatively higher disposable incomes enable individuals to pursue gynecomastia treatments more readily. The North America market is highly competitive, with numerous specialized clinics, hospitals, and healthcare providers offering a wide range of treatment options. This competition drives innovation and ensures a high standard of care, further solidifying the region's dominance in the market.

Asia Pacific is expected to register the fastest growth rate during the forecast period. Rising awareness about gynecomastia and its treatment options is increasing in the Asia Pacific region, therefore the stigma associated with gynecomastia is gradually diminishing, leading to greater acceptance and a higher demand for treatments. Moreover, the Asia Pacific region has witnessed significant economic growth in recent years, resulting in an increase in disposable income among the population, further boosting the market growth in the region.

Key Companies & Market Share Insights

The market players are involved in product launches, expansions, collaborations, and acquisitions to sustain the competition. For instance, in March 2023, Cadila Pharma announced an expansion of their existing facility with a huge investment of Rs 1,000 crore in Gujarat. Some of the key players in the global gynecomastia procedures market include:

• Cadila Pharmaceuticals Ltd

• Sun Pharmaceuticals Industries Ltd

• Zydus Cadila Healthcare Ltd

• Biochem Pharmaceutical Industries Ltd

• Dr. Reddy's Laboratories Ltd

• Micro Nova Pharmaceuticals Ltd

• Kee Pharma Ltd

Gynecomastia Procedures Market Report Scope

Global Gynecomastia Procedures Market Report Segmentation

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global gynecomastia Procedures Market report based on age group, procedure type, end-use, and region:

• Age Group Outlook (Revenue, USD Million, 2018 - 2030)

  • 18-40

  • Above 40

• Procedure Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Liposuction

  • Excision

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Cosmetic Surgery Centers

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait