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2022

Medical Spa Market

Medical Spa Market Size, Share, Competitive Landscape and Trend Analysis Report by Service : Global Opportunity Analysis and Industry Forecast, 2021-2030

LS : Medical Devices & Supplies

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Author's: Shraddha Mali| Madhuvanti Divekar | Roshan Deshmukh
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Medical Spa Market Insights 2030:

The global medical spa market size was valued at $12,438 million in 2020, and is estimated to reach $29,542.33 million by 2030, growing at a CAGR of 9% from 2021 to 2030.  Medical spas, also known as medispas, are a distinct combination of medicine and aesthetics. They provide medically recommended and supervised quality cosmetic treatments in a relaxing environment. These therapies are provided under the direction of medical directors such as dermatologists, doctors, and plastic surgeons and are operated under licensed aesthetician’s doctors and wellness coaches.

A medical spa offers a variety of skin care treatments, including dermal fillers, Botox injections, Juvederm, anti-wrinkle, fine line treatments, acne therapy, and the high technology based laser procedures. All of these approved therapies are cosmetic in nature, with the primary goal of rejuvenating or improving an individual's appearance. Furthermore, non-surgical lifts, body sculpting procedures such as the newly developed cool sculpting, are now widely available.

Medical-Spa-Market

The growth of the medical spa market is majorly driven by increase in incidence of skin damage, changes in lifestyle, an increase in the adoption of noninvasive procedures, rise in demand for aesthetic enhancement procedures such as cryolipolysis, laser lipolysis, liposuction, tummy tuck also known as abdominoplasty, ultrasound, injectable treatments, red light therapy, and others, owing to self-consciousness among the population, especially in women for beautification is on the rise. Thus, aesthetic enhancement is the major factor that drives the medical spa market growth.

The medical spa industry has expanded at an astounding rate in recent years and is expected to continue in the future. Significantly, consumers prefer treatments that produce faster results, positive outcomes, and provide the most procedural comfort. Furthermore, major factors contributing to the rise in demand for aesthetic medicine include an increase in preference for preserving youthfulness and self-appearance, as well as an increase in disposable incomes in developing economies. Furthermore, body sculpting to fat melting, innovations in noninvasive procedures are projected to continue to offer patients a multitude of options that meet their desire for self-improvement and thus, drive the medical spa market growth.

In addition, medical spas also focus toward transition from offering aesthetic treatments exclusively to promoting health and wellness. However, low penetration in the developed & underdeveloped countries and high cost of skilled therapy professionals restrain the market growth. On the contrary, technological advancement in medical treatments conducted in medispas such as laser technology, dermal fillers, ultra-therapy, and others, are expected to offer lucrative opportunities in the near future.

Rise in the aging population, especially in the nations that hold majority of the baby boomer population drive the global medical spa market. The population encompasses individuals that have, for longer period, been anxious about their health and beauty. Moreover, considerable rise in healthcare expenditure globally has fueled the market growth. Increase in medical tourism in developing economies along with the growth in healthcare expenditure in such economies offer lucrative opportunities for the market; hence is a great opportunity for the key players to invest.

In addition, the COVID-19 outbreak is anticipated to have a negative impact on the medical spa market. A huge number of clinics and hospitals across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19. Non-essential procedures took a potential backlog due to rapid rise in COVID-19 cases. The lockdown led to the disruption of manufacturing and transportation of healthcare essentials. Medical spas were closed and their visits and procedures thus declined significantly during the pandemic. However, increase in vaccination rate is expected to stabilize the market.

Medical Spa Market Segmentation

The medical spa market is segmented on the basis of service and region. On the basis of service, the market is classified into body shaping, hair removal, facial treatment, tattoo removal, scars & striae, and others.

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, and rest of LAMEA).

Segment Review

On the basis of service, the facial treatment segment dominated the market in 2020, and is expected to remain dominant during the forecast period, owing to surge in demand for glowing and youthful looking skin, among women as well as men for aesthetic beautification of skin.

Medical Spa Market
By Services
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Facial treatment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

North America exhibited the highest share of the global medical spa market in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in rise in awareness regarding self-appearance and significant increase in the baby boomer population, adoption of technologically advanced treatments and rise healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to its high aging population base, increase in disposable incomes, and development of large number of spas offering varied medical treatments. Moreover, India and China are expected to grow at high CAGR in Asia-Pacific medical spa market.

The key players operating in the global medical spa market are Allure Medspa, Biovital Medspa, Canyon Ranch, Chiva Som, Cocoon Medical Spa, Clinique La Prairie, Hyatt Corporation, True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa and Westchase Medspa.

Medical Spa Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 10.7% during the forecast period.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the medical spa market, current trends, and future estimations to elucidate the imminent investment pockets.
  • It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing medical spa market opportunities.
  • Extensive analysis of the market based on procedures and service assists to understand the trends in the industry.
  • Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the medical spa market.

Medical Spa Market Report Highlights

Aspects Details
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By Service
  • Body Shaping
  • Hair Removal
  • Facial Treatment
  • Tattoo Removal
  • Scars & Striae
  • Others
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By Region
  • North America   (U.S., Canada, Mexico)
  • Europe   (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific   (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA   (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
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By KEY MARKET PLAYERS
  • Allure Medspa
  • Biovital Medspa
  • Canyon Ranch
  • Chiva Som
  • Cocoon Medical Spa
  • Clinique La Prairie
  • Hyatt Corporation
  • True Skin Care Center
  • Vilalara Longevity Thalassa & Medical Spa
  • Westchase Medspa

Analyst Review

This section provides opinions of the top-level CXOs in the medical spa market. In accordance with several interviews conducted, the utilization of medical spa is projected to witness an increase in the future, owing to increase in aesthetic medicine and cosmetic treatment options for beauty enhancement. This market is largely fragmented, and several manufacturers focus on offering advanced products that provide satisfaction to the customers.

Medical spa has gained popularity over the years even in the developing countries owing to various benefits offered by the medical spa facilities. For instance, it offers services such as skin rejuvenation, Botox injections, dermal fillers, laser hair removal, chemical peels, and microdermabrasion. Moreover, advancements in laser technology for hair removal, vascular lesions, and scars & striae removal create lucrative growth opportunities for the market players.

According to the perspectives of CXOs, increase in medical tourism in developing economies along with the growth in healthcare expenditure in such economies offer lucrative opportunities for the market. On the contrary, the side effects or complications associated with the use of certain procedures and lack of skilled professionals are expected to restrain the market growth.

North America is expected to witness highest growth, in terms of revenue during the forecast period, owing to rise in availability of large number of medical spas that offer wide range of services, increase in adoption of advanced technology in this region, and advancements in healthcare investments. However, Asia-Pacific, is expected to grow significantly due to its high aging population base, increase in disposable incomes, and surge in aesthetic enhancement procedures.

Author Name(s) : Shraddha Mali| Madhuvanti Divekar | Roshan Deshmukh
Frequently Asked Questions?

The total market value of medical spa market is $12,438 million in 2020.

The forecast period for medical spa market is 2021 to 2030

The market value of medical spa market in 2021 is $13,586.03 million.

The base year is 2020 in medical spa market

Top companies such as Allure Medspa, Biovital Medspa, Canyon Ranch, Chiva Som, Cocoon Medical Spa, Clinique La Prairie, Hyatt Corporation, True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa and Westchase Medspa, held a high market position in 2020.

Facial Treatments segment dominated the global market in 2020, and expected to continue this trend throughout the forecast period due to increase in awareness among to look young, to have glowing skin and is thus expected to drive the segment

Increase in body shaping procedures, surge in aesthetic enhancements among the women and various technological advancements in cosmetic procedures is anticipated to drive the market in the forecast period.

North America is projected to account for a major share of the global medical spa market during the forecast period. U.S. dominated the North America medical spa market owing to huge number of facilities offering such services, rise in disposable income and aesthetic consciousness across the country.

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Medical Spa Market

Global Opportunity Analysis and Industry Forecast, 2021-2030