Global Medical Spa Market, By Services (Facial Treatment, Body Shaping and Contouring, Laser Hair Removal, Scar Revision, Tattoo Removal, Age (Adolescent, Adult, Geriatric), Gender (Male, Female), Service Provider (Single Ownership, Group Ownership, Free-standing, Medical Practice Associated Spas), End-User (Men, Women) – Industry Trends and Forecast to 2030.
Medical Spa Market Analysis and Size
The medical spa has evolved to meet its clients' ever-changing needs. Anti-aging products are becoming more popular as customers become more social media savvy. As a result, major corporations must now provide both innovative and efficient services. The primary driver of this market is rising demand for anti-aging skincare treatments, which is expected to continue as millennials age. The American Society of Plastic Surgeons estimates that those aged 30 to 39 will account for 45 percent of all cosmetic surgeries performed in the United States in 2020, with 6.1 million total cosmetic procedures performed, including 684,000 surgical procedures and 5.4 million minimally invasive surgeries.
Data Bridge Market Research analyses that the medical spa market which is USD 16.50 billion in 2022, is expected to reach USD 49.09 billion by 2030, at a CAGR of 14.6% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Medical Spa Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Services (Facial Treatment, Body Shaping and Contouring, Hair Removal, Scar Revision, Tattoo Removal, Age (Adolescent, Adult, Geriatric), End-User (Men, Women)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
BIOVITAL MEDSPA (U.S.), Westchase Medsap, LLC (U.S.), Chic la Vie Med Spa (U.S.), Lanserhof (Austria), Canyon Ranch (U.S.), Serenity Medspa (U.S), Bijoux Medi-Spa (U.K), Brenners Park-Hotel & Spa (Germany), Sha Wellness Clinic (UAE), Cocoona (UAE), Aesthetics Medispa (U.K.), Lily's Medi Spa (U.S.), The Drx Medispa (China), Chiva Som (U.S.)
Medical spas, also known as medi-spas or medspas, aim to combine various medical procedures that would normally be performed in a doctor's office with the spa experience. Anti-aging therapy is given special attention. Indeed, non-surgical anti-aging therapies that were previously only available in a doctor's office may now be available in medical spas. In some jurisdictions, however, medical spas must be owned and operated by a trained physician.
Global Medical Spa Market Dynamics
- Rise in geriatric population
The geriatric population is expected to grow significantly during the forecast period. According to WHO, the number of people over the age of 60 will rise to 1.4 billion by 2030. The desire to look young and attractive even in old age is fuelling the growth of the geriatric segment. People over the age of 60 are more interested in maintaining a healthy lifestyle, which leads to an increase in medspa visits.
- Technological advancements
Technological advancement is a major trend that is gaining traction in the medical spa market. Medical spa service providers are moving toward technologically advanced treatments to improve the customer experience. Radiofrequency body contouring, radiofrequency microneedling, BTL aesthetics emsculpt, hydrafacial or dermal infusion toning, and muscle-sculpting treatment are some of the new technological innovations in medical spas. In January 2022, Renew Medical Aesthetics, a Wisconsin-based provider of medical spa services, will launch a new line of lip filler aesthetic treatments in two sizes, mini (half syringe) and full syringe.
- Rise in minimally invasive procedures
Minimally invasive procedures such as non-surgical skin tightening and chemical peels, as well as tattoo removal and body sculpting, are in high demand, according to the International Society of Aesthetic Plastic Surgery. The medical spa trend is becoming more popular and profitable as demand for beauty and self-improvement therapies grows around the world. This is expected to create more opportunities for market growth during the forecast period.
- Increased usage of skincare solutions
Rising pollution levels, stressful lifestyles, food product adulteration, malevolent farming techniques, the use of hormones and biological substrates in dairy products, and skin exposure to harmful chemicals are causing premature hair loss, early ageing, skin problems, obesity, hormonal issues, and other such physical, mental, and emotional ordeals. The global medical spa market is expected to expand during the forecast period due to the growing trend of health and fitness culture, changing lifestyles, and increased use of skincare solutions and face treatments.
- High cost of spa equipment
The high cost of spa equipment and the lack of reimbursement policies may pose challenges to the expansion of the medical spa market during the forecast period. Medical spas provide high-margin therapeutic services that are becoming more expensive. According to the American Med Spa Association's Supplement to Modern Aesthetics, the average cost of laser hair removal in the United States increased by roughly 51% between 2011 and 2016, while tattoo removal increased by 42%. This trend is being fuelled by rising out-of-pocket spending around the world, which is propelling market expansion.
This medical spa market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical spa market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on the Medical Spa Market
The COVID-19 outbreak is expected to reduce the medical spa market. A significant number of clinics and hospitals have been renovated around the world to increase hospital capacity for COVID-19 patients. As a result of the significant increase in COVID-19 cases, non-essential processes may face a backlog. Manufacturing and distribution of healthcare essentials were both hampered as a result of the shutdown. Medical spas were closed during the epidemic, and visitation and procedures decreased significantly. Increases in vaccination rates, on the other hand, are expected to stabilise the market.
- In 2021, Laser MD Medspa, a premier medical spa services company based in the United States, acquired Young Medical Spa for an undisclosed sum. As a result of this acquisition, Laser MD Medspa intends to expand its operations in four Pennsylvania locations. Furthermore, the company is focusing on expanding its business footprint in more than 15 locations across the United States' northeastern and Mid-Atlantic regions. Young Medica Spa is a medical spa service provider based in the United States.
Global Medical Spa Market Scope
The medical spa market is segmented on the basis of type, usage, end-user, gender, service provider. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Facial Treatment
- Body Shaping
- Hair Removal
- Scar Revision
- Tattoo Removal
- Single Ownership
- Group Ownership
- Medical Practice Associated Spas
Medical Spa Market Regional Analysis/Insights
The medical spa market is analysed and market size insights and trends are provided by country, type, usage, end-user, gender, service provider as referenced above.
The countries covered in the medical spa market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical spa market because of higher spending on wellness tourism (both domestic and international traffic.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the growing popularity and growth of the wellness tourism industry, as well as rising wellness tourism expenditure.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The medical spa market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for medical spa market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the medical spa market. The data is available for historic period 2011-2021.
Competitive Landscape and Medical Spa Market Share Analysis
The medical spa market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical spa market.
Some of the major players operating in the medical spa market are:
- BIOVITAL MEDSPA (U.S.)
- Westchase Medsap, LLC (U.S.)
- Chic la Vie Med Spa (U.S.)
- Lanserhof (Austria)
- Canyon Ranch (U.S.)
- Serenity Medspa (U.S)
- Bijoux Medi-Spa (U.K)
- Brenners Park-Hotel & Spa (Germany)
- Sha Wellness Clinic (UAE)
- Cocoona (UAE)
- Aesthetics Medispa (U.K.)
- Lily's Medi Spa (U.S.)
- The Drx Medispa (China)
- Chiva Som (U.S.)