People within the transgender community as a whole should know that there's an episode in the recent history of medicine, during which millions of pregnant women were given very high doses of a powerful artificial estrogen called DES, and that it appears to have caused very high rates of transsexuality in those exposed. The doses used were absolutely colossal. DES has similar pharmacological properties and potency to ethinylestradiol, the estrogen that's used in birth control pills. Modern combined oral contraceptive pills typically contain between 15 and 50 micrograms of ethinylestradiol. Under the standard "Smith and Smith" dosing schedule,
(taken from the 1953 "Physician's Desk Reference", a guide for doctors containing the manufacturer's recommendations for how to prescribe pharmaceuticals)the cumulative dose over the course of a pregnancy was (if the dosing schedule was followed to the letter) 11,718 milligrams, or 11.7 million micrograms (an equivalent amount of artificial estrogen to that contained in several hundred thousand birth control pills!). The official line is that the biologically male children exposed to that treatment suffered virtually no ill effects as a result of their exposure. However, even small doses of manmade estrogens have since been shown to be capable of massively disrupting the process of male development in animals.

(the estrogen here was ethinylestradiol, a manmade estrogen with similar potency and pharmacological properties to DES)
From what I've seen, manmade estrogens have the same effect on human beings as they do on fish. It's just that, due to the way DES was prescribed in progressively increasing doses, the exposure during the first trimester (when development of the physical sexual attributes of the fetus takes place) was relatively light, whereas the exposure during the second and third trimester (when the main thing still ongoing is brain development) was far heavier. As a result, the usual outcome for most of us is that we've ended up with a relatively normal looking male body (albeit often with genital abnormalities and subtle signs of feminization), but with a brain that has predominantly developed as female instead of male.
At first glance, we generally don't look too different from ordinary men, but very often we seem to have a subtle feminine cast to our appearance (more noticeable during our teens and twenties), and a type of body structure known as "eunuchoid habitus", that makes you look a bit like a cross between a man and a woman, and is something that's usually associated with intersex conditions. It's my opinion that these things would have been readily apparent to the doctors tasked with investigating the aftermath of the DES disaster, and they do have a fair idea of what's happened to us. However, rather than admit that they inadvertently caused several million people to be born who are biologically male but have partially developed as female instead of male, the guilty parties have instead opted to cover the whole thing up (aided no doubt by the level of shame and secrecy that surrounds intersex conditions, and anything people perceive as being mental illness).
There was a parallel disaster that took place over a similar time frame to DES, involving hormones with androgenic properties (anabolic steroids such as danazol, and first generation androgenizing progestins), that I think is likely to have produced people with the reverse situation of what happened with DES - biologically female people who look like women but have male brains. Considering how widely DES and the other gender bending hormones were used, I think they could well be the main cause of transsexuality in the over 40s age group. At the very least, there appears to be a very strong association between DES exposure and MTF transsexuality in people born prior to 1980 (by which time DES had largely been withdrawn from use).
There are now strict warnings in place against using estrogens, antiandrogens and hormones with overt androgenic properties during pregnancy. However, there are plenty of other hormones still in use that don't fall into those categories, but nonetheless have feminizing effects on adult men (e.g. corticosteroids and hydroxyprogesterone caproate). I haven't yet found anything that adequately explains why there's so many younger FTMs, but, given their past history, I suspect pharmaceutical hormones could well be the culprit there too.