The new report by Expert Market Research titled, ‘Global Medical Spa Market Report and Forecast 2023-2031’, gives an in-depth analysis of the global medical spa market, assessing the market based on its segments like services, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size (2022): USD 15.9 billion
- Forecast CAGR (2023-2031): 13.3 %
The global medical spa industry is being driven by the rising demand for aesthetic medicines and cosmetic treatment options for beauty enhancement, as well as the rise in wellness trends, particularly in developed countries.
Furthermore, the global ageing baby boomer generation, together with rising disposable incomes, is providing additional stimulus to the medical spa market’s growth. However, a scarcity of skilled professionals, particularly in emerging economies, and the high cost of procedures are two significant constraints that might hinder market growth during the forecast period.
Medical Spa Market Definition and Major Segments
A medical spa is a spa that offers a medical program that is operated by a certified health care expert. These spas give medical beauty treatments such as microdermabrasion, lasers, botox, and other treatments, as well as regular spa services such as facials and massages.
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The medical spa market, on the basis of services, can be segmented into:
- Facial Treatment
- Body Shaping and Contouring
- Hair Removal
- Scar Revision
- Tattoo Removal
The regional markets include:
- North America
- Asia Pacific
- Latin America
- Middle East an
Medical Spa Market Trends
There is a high demand for minimally invasive procedures such as chemical peels and non-surgical skin tightening, as well as body sculpting and tattoo removal.
Furthermore, wellness packages offered by hotels are fuelling a surge in demand for wellness vacations, driving the medical spa market even further. Unique facial treatments offered in medical spas, such as the ultrasonic fountain, nature signature facial, oxygen facial, derma wave, and HydraFacial MD, are bolstering segment growth. As a result, it is expected that the development of such innovative approaches will further boost the global medical spa market in the coming years.
Key Market Players
The major players in the market are Biovital Med Spa LLC, Westchase Medspa, Sciton, Inc., Chic la Vie Med Spa, Lanserhof Lans, Kurotel – Centro Médico de Longevidade e Spa, Clinique La Prairie SA, Canyon Ranch, Chic la Vie Med Spa, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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