USD 16.39 billion
Medical Spa Market Size, Share, Growth Analysis, By Service(Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision), By Age Group(Adolescent, Adult, and Geriatric), By Gender(Male and Female), By Service Provider(Single Ownership, Group Ownership, Free-standing, Medical Practice Associated Spas), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2526 |
Region:
Global |
Published Date: September, 2024
Pages:
219
|Tables:
119
|Figures:
77
Medical Spa Market Insights
Global Medical Spa Market size was valued at USD 16.15 billion in 2022 and is poised to grow from 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).
The market growth can be attributed to growing awareness of self-care and aging services among consumers and rapid growth in wellness tourism sector. American Med Spa Association (AMSA) reports demand for less invasive treatments, including chemical peels, non-surgical skin peels such as tightening, body sculpting, tattoo removal etc. Furthermore, the popularity of fitness-related opportunities, which are often included in wellness programs in hotels, is contributing to the rapid growth in demand for such services.
The medical spa market has been shaped by ever-changing consumer needs. With consumers becoming more social media savvy, awareness of anti-aging solutions is on the rise. The growing demand for anti-aging skin care products is a major driver for growth. According to projections for plastic surgery in 2022 from the American Society of Plastic Surgeons, 30 to 39-year-old in the U.S. have more than 100,000 cases of plastic surgery.
Increasing disposable incomes, especially in developing countries, and expanding tourism sector are increasing the demand for such services. Major brands are offering personalized beauty products to prove it prices are high, and they aim to exploit their position. An emerging trend in the field is to integrate biophilic design and wellness architecture into the overall structural design of a property.
The rapid growth of the medical spa market is providing potential growth opportunities for new entrants that provide a unique combination of different sectors, such as hospitality, travel, beauty treatments and fitness.
US Medical Spa Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Female
Fastest Growth
Female
Growth Rate
14.97% CAGR
Global Medical Spa Market ($ Bn)
Country Share for North America Region (%)
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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.
Analysis by Age Group
The adult segment dominated the market with 70.6% revenue share in 2023 and is expected to witness the highest CAGR from 2024 to 2031. Most of the med spa clients are in their mid-30s, 40s and 50s due to as adults focus more on body contouring and anti-aging treatments. The ability of people aged 35 to 50 to spend significant amounts of money, and the increasing demand for dermal fillers in this age group is driving the segment. The tremendous influence of social media increases the demand for dental care among teenagers. Teenagers are increasingly incorporating anti-aging products and treatments into their beauty regimes.
Geriatric is the fastest growing segment in the medical spa market. The geriatric segment is estimated to grow significantly over the forecast period. According to the World Health Organization (WHO), the share of people over the age of 60 is expected to increase to 1.4 billion in 2030. The desire to look after children and look good in old age is favoring the growth of the geriatric segment. People aged above 60 years are more interested in maintaining a healthy lifestyle, which leads to an increase in the number of med spa visits.
Analysis by Gender
The female segment accounted for the largest revenue share of 85.3% in 2023. Since women are the main consumers, various women-oriented services are being increasingly developed, positively affecting the growth of the segment. These services have become popular among women to enhance their physical appearance and boost their confidence. Many women want to enhance their appearance, which has led to an increase in the number of people going there for Botox and injections. According to AmSpa's 2022 Medical Spa State of the Industry Report and the largest medical spa in the world. Women have traditionally faced increased societal pressure to remain youthful, resulting in a demand for non-invasive beauty treatments. Medical spas are meeting this demand with services such as facials, Botox, dermal fillers and body contouring, helping women achieve their beauty and wellness goals. Medical spas appeal to women of all ages, from young women in their 20s and 30s seeking preventive skin care treatments, to middle-aged and older women increased demand for anti-aging skin tightening, wrinkle reduction, lasers.
Male segment is expected to witness a profitable CAGR between 2024 and 2031. The adoption of these services among men has increased as they have realized the advantages of these treatments in wellness and relaxation. As a result, the industry is developing skin care products and services focused on men. An increasing number of male customers and the development of targeted market strategies for males are likely to boost the segment’s growth. Men's attitudes towards personal grooming have changed dramatically, with more men becoming aware of their appearance and seeking non-invasive treatments to enhance their appearance.
Global Medical Spa Market Size By Gender
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Medical Spa Market Regional Insights
North America, especially the United States, is the dominant region in the global medical spa market. The region’s affluent population can spend more on wellness and luxury beauty treatments, creating demand for medical spa services. North American consumers are willing to invest in treatments that promotes health and beauty, such as Botox and dermal fillers. North America has cutting-edge technologies, an abundance of skilled professionals, such as licensed dermatologists and estheticians, and a well-established healthcare system. This enables medical centers in the region to offer a wide range of non-invasive and minimally invasive cosmetic procedures. Social acceptance of beauty treatments is on the rise in North America, with social media, celebrities, and a culture that promotes physical appearance and wellness as a service price. This increases demand for beauty enhancements in pharmacies, especially among millennials and among older people.
Asia Pacific is the fastest growing region in the medical spa market. Rapidly expanding middle classes in China, South Korea, Japan and India have increased disposable incomes, leading more consumers to choose medical spa services. Asia Pacific places a strong emphasis on beauty, and consumers seek non-invasive treatments to enhance their appearance. The region is becoming a major global destination for medical tourism, especially in countries such as Thailand, South Korea and India. Medical spas in these areas offer high-quality beauty treatments at more affordable prices making the region attractive to international clients.
Global Medical Spa Market Size By Region
- Largest
- Fastest
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Medical Spa Market Dynamics
Medical Spa Market Drivers
Growing Demand for Non-invasive Beauty Treatments
- Growing consumer demand for non-invasive and minimally invasive cosmetic treatments is a major driver of the medical spa market. Procedures such as Botox, dermal fillers, laser hair removal, chemical peels are becoming popular alternatives to surgery, as it has led to reduced recovery time. Increasing willingness to proceed has created a youthful look with the influence of social media and an aging demographic driving the demand for these treatments in pharmacies.
Advances in Cosmetic Technology
- The rapid advancement in cosmetic technology is another major driver of the medical spa market. Innovations in laser therapy, radio frequency equipment, and skin rejuvenation technologies have expanded the services offered by medical spas. These technological advances improve the effectiveness of treatments and improve patient safety and comfort improve. The availability of advanced equipment enables medical spas to offer a range of precise, customized procedures tailored to individual skin types and aesthetic goals.
Medical Spa Market Restraints
High Cost of Advanced Equipment and Technology
- One of the main challenges for medical spas is the high cost of owning and maintaining advanced medical and aesthetic equipment. Medical devices such as laser therapy, body contouring and skin tightening require a significant investment before permanent maintenance. This high cost may prevent small, innovative laboratories from competing with large, well-established ones. In addition, maintaining a well-trained staff of medical professionals, including licensed dermatologists and estheticians, raises operating costs, making it difficult for some practices to balance in terms of profitability and the provision of innovative services.
Stringent Regulatory Environment
- The medical spa industry is subject to strict regulation, especially in providing medical grade treatments. Different states and localities have laws and regulations governing who can manufacture certain products. In many places, only licensed physicians can administer treatments like Botox or laser treatments, and non-compliance can result in legal penalties or business closures. To adopt those regulatory programs this can be challenging, especially for multi-site businesses. These restrictions may restrict the scalability of medical spas and hinder market growth in areas with stringent health regulations.
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Medical Spa Market Competitive Landscape
The competitive landscape in the medical spa market consists of a mix of established players, emerging brands and luxury chains offering a wide range of beauty and wellness treatments. The market is highly fragmented, with competition primarily due to services consumption roles, technological innovation, customer experience and geographic proximity. Companies offering care and integrated care are thriving in this rapidly growing industry.
Medical Spa Market Top Player’s Company Profiles
- 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)
Medical Spa Market Recent Developments
- In April 2024, JEUNESSE announced the launch of a new luxury state-of-the-art HydraFacial treatment at their Jeunesse Medical Spa locations in Holmdel and Old Bridge, United States.
- In January 2024, Empower Aesthetics, a national medical aesthetics platform, announced that it has partnered with DermaTouch RN, one of the nation’s leading medical aesthetic practices with locations in Houston and San Antonio, Texas, and AW Skin Co., a highly-regarded medical spa and wellness center with three locations in Cool Springs, Franklin, and Murfreesboro, Tennessee.
- In November 2023, MD Esthetics announced the acquisition of Medical Aesthetics of New England (MANE), an established medical spa comprised of two locations serving the Acton and Fitchburg, MA areas.
Medical Spa Key Market Trends
- Integrating Welfare and Holistic Services: Medical spas are increasingly adding wellness and holistic services to their offerings to meet the growing demand for holistic and mental health. In addition to beauty treatments, many spas offer wellness interventions such as nutrition counseling, detoxification treatments, stress management programs and more are included through wellness and growing popularity. By offering a comprehensive range of products that combine beauty and wellness, medical spas can differentiate themselves from traditional spas and appeal to a wider audience seeking physical rejuvenation and mental wellness.
- Personalized Treatment Planning Through AI and Data Analytics: The adoption of artificial intelligence (AI) and data analytics is transforming the medical spa market by enabling personalized treatment planning. With AI-enabled skin analytics tools and predictive algorithms, medical spas can offer customized solutions based on individual skin types, conditions and aesthetic goals. Data analytics allows for monitoring treatment outcome and patient satisfaction effectively. As consumers demand more personalized experiences, the use of AI in diagnosis and treatment planning is a competitive advantage for medical spas, helping them improve customer retention and satisfaction.
Medical Spa Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the medical spa marketplace is driven by means of the growing demand for non-invasive beauty treatments and the technological improvements in aesthetic strategies. Although the marketplace gives promising increase opportunities, demanding situations inclusive of system an excessive in advance expenses and stringent rules pose full-size limitations. Key trends, consisting of the integration of health services and the use of AI for personalised remedy plans, are shaping the future of the industry.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 16.15 billion |
| Market size value in 2031 | USD 57.41 billion |
| Growth Rate | 15.13% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Spa Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Spa Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Spa Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Spa Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Spa Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Spa Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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