According to our research report, the global medical spa market size is expected to grow at a CAGR of 13.22% from 2021 to 2026 and be worth $ 25.19 billion by 2026.
The blockages and restrictions imposed in various countries and the postponement of elective procedures have had a negative impact on several markets, including the medical spa market. In the United States, many operators have been forced to temporarily shut down operations to comply with CDC regulations. According to the American Society of Plastic Surgeons, the number of minimally invasive procedures has decreased by 17% since the start of the COVID-19 pandemic. However, people are getting used to virtual teleconsultations and online services. As a result, the customer base for minimally invasive cosmetic procedures is likely to increase, with many people opting for skin care services.
The growth of the global medical spas market can be attributed to factors such as increased consumer awareness of beauty and anti-aging services coupled with the rapid expansion of medical spas. As a result, there has been a high demand for minimally invasive treatments like chemical peels, body sculpting, non-surgical skin tightening, and tattoo removal in recent years, based on American Med data. Spa Association. In addition, wellness packages offered in hotels are creating an ever-increasing demand for wellness-themed vacations.
Ever changing customer demands have shaped the medical spa with massive popularity on social media, awareness of anti aging solutions is on the rise. Hence, medical spas provide innovative and effective services to meet the huge demand for anti aging skin care solutions. According to plastic surgery statistics from the American Society of Plastic Surgeons, people between the ages of 30 and 39 accounted for more than 44% of cosmetic surgeries in the United States, with a total of 6.14 million cosmetic procedures, including 685,000 surgeries and 5.42 million. minimally invasive surgeries. In addition, the World Health Organization (WHO) estimates that skin diseases are among the most widely recognized human well-being problems, affecting nearly 1.25 billion people worldwide. The most common skin infections described below are pyoderma, scabies, acne, dermatitis, moles, etc.
The rapid growth of the medical spa market is expected to create potential growth opportunities by offering a unique collaboration between different business areas such as hospitality, beauty, fitness and travel with premium package options. Moreover, with the increasing adoption of dermal fillers, laser hair removal, rejuvenation procedures are likely to drive the market growth. In addition, in emerging countries, companies offer personalized beauty treatments to justify higher prices, thus helping to develop the market in the respective countries. In addition, technological advancements and reductions in device prices are expected to provide lucrative growth opportunities.
However, the high cost of spa devices and the lack of reimbursement policies may create obstacles for the growth of the medical spa market during the forecast period.
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KEY MARKET OVERVIEW:
- On the basis of service, the facial care segment is expected to be the most lucrative due to increased awareness of improving personal appearance. Various facials are offered in the medical spa, such as hydrafacial, natural facial, derma wave, oxygen facial and dermaplaning, which are increasingly popular. Therefore, an increase in new procedures should improve this segment. However, the body contouring and shaping segment is expected to experience the fastest growth during the given period. According to the American Med Spa Association report, 55% of medical spas in the United States offer body contouring services. Additionally, advancements in minimally invasive devices will open up new opportunities for cosmetic beauty.
- On the basis of the end user, the male segment will experience lucrative growth relative to females due to the increasing trend of grooming among men during the analysis period. Several companies are creating centers dedicated to male customers, offering massages and facials specially designed for male customers.
- Based on the region, North America is expected to hold a significant share of the global medical spas market during the forecast period. The key factors driving the market growth in the region are increased awareness of the benefits of medical spa treatments, high disposable income and well-established healthcare infrastructure, coupled with the rapid adoption of new techniques of medical spa treatments. In 2021, the US medical spa market had a net worth of over US $ 4.2 billion; Meanwhile, the regional market in Canada will grow at a CAGR of 10.89% during the analysis period. In addition, government support for ongoing clinical research has enabled the United States to dominate the North American market.
- The presence of prominent players, increased investment in research and development will boost the APAC medical spa market. China is expected to reach a market size of USD 7 billion by 2026, with a rate of 16.15%, and Japan is expected to grow at a CAGR of 8.9% during the forecast period.
- Some notable companies operating in the global medical spa market presented in this report are Lanserhof Tegernsee, Chic La Vie, SHA Wellness Clinic, Dermani Medspa, Crown Aesthetics, Willow Medspa, Allure MedSpa, Cienega Med Spa, Inc. and Clinique La Prairie .
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MARKET SEGMENTATION :
- Facial treatment
- Body sculpting and contouring
- Hair removal
- Scar revision
- Tattoo removal
By the end user:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa