(MENAFN- GlobeNewsWire - Nasdaq) Global Medical Spa market size was valued at USD 18.60 billion in 2023 to USD 57.41 billion by 2031, growing at a CAGR of 15.13% in the forecast period (2024-2031).Westford, USA, Oct. 09, 2024 (GLOBE NEWSWIRE) -- The medical spa market is witnessing immense growth due to the increase in consumer awareness of self-care & anti-aging services and a rapid rise in the industry of wellness tourism. According to the American Med Spa Association, there is a high demand for minimally invasive treatments in the United States. The treatments can include such procedures as ((chemical peels, non-surgical skin tightening, body sculpting and tattoo removal. The increase in the number of wellness-themed vacations, often combined with the availability of wellness packages in hotel facilities, is one of the other reasons that factor into swift growth in the demand for these services.
The rise in disposable income, especially in emerging countries, and the growth of the tourism sector are other forces bolstering the demand for such services. The top players provide tailored beauty services that helps justifying the premium price they charge. One of the emerging trends in the market is the incorporation of biophilic design and wellness architecture into the full structural design of a property, which is further fueling the growth of the market.
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Medical Spa Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 18.60 Billion |
| Estimated Value by 2031 | $ 57.41 Billion |
| Growth Rate | Poised to grow at a CAGR of 15.13% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Service, Age Group, Gender, Service Provider, and Region |
| Segments Covered | Vertical, Application, Deployment Device, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Emergence of new tools like radiofrequency body sculpting and microneedling to increase services |
| Key Market Opportunities | Availability of customized wellness packages incorporating procedures with fitness, |
| Key Market Drivers | Growing demand for procedures including body contouring, skin tightening, and wrinkle reduction |
Medical Spa Market Segmental Analysis
Global Medical Spa Market is segmented on the basis of service, age group, gender, service provider, and region.
By Service , the market is segmented into Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal, and Other Services.
By age group , the market is segmented into Adolescent, Adult, and Geriatric.
By gender , the market is segmented into male and female.
By service provider , the market is segmented into Single Ownership, Group Ownership, Free-standing, and Medical Practice Associated Spas.
By region , the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Increasing Use of Non-Invasive Body Contouring Treatments to Get Better Therapies Without Surgery
The body contouring treatment is a new non-invasive therapy, whose popularity is rapidly enhancing among people. These several years have witnessed the great progress of the body contouring treatments. It can be said that the continuation of the advancement of this type of treatment can provide the ability of a non-invasive way to tone and sculpt the body avoiding all the surgeries. Furthermore, treatments like fat reduction, radiofrequency therapy, CoolSculpting and many others are currently considered as contouring. These treatments aim the cellulite and the so-called stubborn fat deposits providing an option for liposuction with minimal invasion and painless procedures. Such progression of treatments makes it possible for people to achieve their physical goals without undergoing the knives.
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Growing Popularity of Advanced Anti-Aging Treatment to Minimize Aging Signs
One of the main things that medical spas provide to their customers are anti-aging procedures and treatments. Regenerative plans such as stem cell therapy and platelet-rich plasma treatments are the latest trends as they help people become younger and get healthier skin. These procedures are almost natural, and they have the power to let the skin rejuvenate. Furthermore, classic anti-aging solutions are also being enhanced with the help of laser technologies and microneedling. With such advanced treatments medical spas are helping the customers to get clear and younger-looking skin.
Well-established Healthcare Structure to Increase to Drive Medical Spa Market in North America
The main reasons why customers decide to have medical spa treatments in North America is due to the already established health care infrastructure and cutting-edge technologies and facilities. Another reason is the relatively prospering population that has high income, which is allowing more customers can afford medical spa operations. North America leads in technological innovations in the medical spa sector, and it offers modern surgeries and treatments. Additionally, the rising popularity of non-surgical cosmetic procedures, skincare, and wellness stimulates the demand medical spa in the North America.
Medical Spa Market Insights
Drivers:
Increasing demand for lasers and injectable treatments
Growing popularity of natural and organic treatment
Rising demand for non-invasive procedures like dermal fillers
Restraints:
High expense of the treatment procedures
Availability of affordable substitute treatments
Growing regulatory standards for medical spa operators
Key Players Operating in the Medical Spa Market
Clinique La Prairie (Switzerland) Kurotel-Longevity Medical Center and Spa (Brazil) Lanserhof (Germany) The Orchard Wellness Resort (Germany) Vichy Celestins Spa Hotel (France) Brenners Park-Hotel & Spa (Germany) SHA Wellness Clinic (Spain) Cocoona Centre Of Aesthetic Transformation (Spain) Mezzatorre Hotel and Thermal SPA (Italy) Lisse (Switzerland) The DRx Clinic (Switzerland) Chiva Som (Thailand) Biovital Medspa LLC (United States) Allure Medspa (United States) Longevity Wellness Worldwide (United States) Serenity Medspa (United States) Aesthetics Medispa (United States) Lily's Medical Spa (United States) Westchase Medspa (United States) Mandarin Oriental Hotel Group Limited (Hong Kong)
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Key Questions Answered in the Medical Spa Market Report
What are the major driving factors of medical spa market?
Which is the fastest growing region in the medical spa market report?
Who are the key players in medical spa market?
This report provides the following insights:
Analysis of key drivers (Growing demand for non-invasive beauty treatment, advancement in cosmetic treatments), restraints (High expense of advanced equipment, strict regulatory settings), opportunities (Rising demand for laser and injectable treatments), and challenges (Availability of affordable substitute treatments) influencing the growth of medical spa market
Market Penetration : Comprehensive information on the product offered by the top players in the medical spa market
Product Development/Innovation : Detailed insights on the upcoming trends, R&D activities, and product launches in the medical spa market
Market Development : Comprehensive information on emerging regions
Market Diversification : Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment : In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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