If it was medication then we have to follow the basic medical Tennant of first due no harm. These supposed medications do immediate and irreversible harm sterilizing children for life, stunting their growth, if administered at a young age it leaves males permanently unable to experience orgasm for life, it decreases bone density, and ultimately leaves people life dependent upon these "medication" meaning they die if they stop taking them. That is a lot of irreversible harm especially since it doesn't even solve the original problem you mentioned in the OP about suicide rates. Suicide rates are almost entirely uneffected by this supposed "care".
Add into the fact that the vast majority of these people are mentally ill, a majority are also autistic at least for m2f, and it really doesn't look good. There is very little science to support harmful interventions which don't help the original issue.