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  • Medical Spa Market Analysis | 2022-2028

    Medical Spa Market Analysis | 2022-2028

    Medical Spa Market Analysis | 2022-2028
    Report code - SR2283 Delivery - 2 Weeks
    Medical Spa Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportun See more...

    “The Medical Spa Market was estimated at US$ 13.71 billion in 2021 and is expected to grow at a CAGR of 13.75% during 2022-2028 to reach US$ 34 billion in 2028”.

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    Market Dynamics

    Introduction

    A medical spa is a facility that combines traditional spa treatments with medical services under the supervision of a licensed healthcare professional. Unlike regular spas, medical spas offer more advanced procedures like Botox injections, laser hair removal, chemical peels, and other cosmetic treatments that require medical expertise. The focus is on enhancing beauty and wellness using medical-grade procedures.

    Market Drivers

    The market's progress can be due to elements including rising consumer awareness of self-care and anti-aging treatments, as well as the quick development of the wellness tourism industry. The American Med Spa Association (AMSA) reports that non-invasive procedures including chemical peels and non-surgical skin tightening, as well as body sculpting and tattoo eradication, are in great demand. Additionally, the desire for vacations with a wellness focus is rapidly increasing due to hotel wellness packages.

    The expectations of the clientele have formed the medical spa industry. Anti-aging products are getting more popular as consumers become more adept at using social media. The fundamental driver in this market continues to be the rising demand for anti-aging skincare products. People between the ages of 30 and 39 accounted for 45% of all cosmetic surgeries performed in the United States in 2021, totaling 6.1 million procedures, including 684,000 surgical procedures and 5.4 million minimally invasive procedures. The demand for these services is also being fueled by increased consumer disposable income, particularly in emerging economies, and the rise of the tourism industry. Important businesses provide individualized beauty services to support high costs and use their position.

    A unique mix of business sectors like hospitality, travel, beauty treatments, and fitness is being offered by new entrants to the wellness tourism industry, which is expanding quickly. The market is also expected to rise as a result of women in their late 20s using dermal fillers more frequently, as well as rising demand for laser hair removal and face procedures. Marketing and branding efforts to promote treatments will increase, creating opportunities for medical spas. In light of this, each med spa places a strong emphasis on building its brand and promoting medical aesthetic procedures, treatments, and specialty products. Increased affinity for and acceptance of male aesthetics is another element that will present lucrative possibilities. Men may only represent a small portion of cosmetic clients, but they play a bigger role in the medical spa market. Males are an underserved patient population that could support the growth of aesthetic practices.

    The aging of the population has contributed to an increase in minimally invasive procedures, which is one of the major drivers of the medical spa business. It has aided in the development of fresh strategies to deal with the distinct anatomy of facial aging that causes an aged appearance. More minimally invasive operations would be encouraged by this trend, which would boost sales of cosmetic products and medical spa services. Modern technological advancements like BTL Aesthetics Emsculpt and hydra facials or dermal infusions are widely used in the medical spa industry nowadays. Even though these gadgets have long been at the top of their aesthetic game, they take the priority spot on the list because of how widely applicable they are and how in demand they are.

    Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

    • According to the International Society of Aesthetic Plastic Surgery, there is high demand for minimally invasive procedures such as chemical peels, body sculpting, and non-surgical skin tightening. The desire for beauty and self-improvement therapies is growing globally, and the medical spa trend is becoming quite popular and a valuable company.

    The middle-aged generation and millennials have the most purchasing power and are more inclined to view medical spas as a place to "detox from the digital world," according to the International Society of Aesthetic Plastic Surgery, 2019 report. Over the projection period, these elements are anticipated to produce profitable prospects for the medical spa industry's size expansion. 

    Recent Developments

    It is projected that the existence of numerous big and minor players, as well as a growing number of international players, will foster the market's expansion. These businesses employ a variety of techniques to improve their market position, including the creation of new products and services using cutting-edge technology, collaborations with other businesses, the extension of their retail footprint, and business investments. For instance:

    • In November 2021, Chic La Vie introduced a Botox skin rejuvenation procedure for guys to usher in a new era in which only women would get skin rejuvenating spa operations.
    • In June 2021, a new medical menu was introduced by Clinique La Prairie at its Bangkok Medical Spa & Aesthetics location. The business collaborated with Minor Hotels' St. Regis Bangkok to launch a brand-new medical spa facility in March 2021.
    • In August 2019, the Longevity Health & Wellness Hotel in Portugal increased the size of its service area. Modern integrative and regenerative medicine, as well as enhanced wellness and preventative diagnostics, therapies, and programs, are all available at the spa facility.
    • In September 2018, Bliss, a producer of spa and beauty goods, introduced medical spa services in their New York facilities. To further incorporate aesthetic treatments in their Manhattan locations, Bliss worked with Ideal Image, a supplier of laser hair removal and cosmetic services.

    Segments Analysis

    By Service Type

    “The facial treatment industry captured the largest market share in 2021”.

    The market is further segmented into facial treatment, body shaping & contouring, hair removal, scar revision, tattoo removal, and others. In 2021, the facial treatment sector held the most market share. The significant market share is mostly driven by the rising popularity of anti-aging treatments like Botox and dermal fillers. Injections of hyaluronic acid and botulinum toxin were among the most popular aesthetic procedures worldwide, according to ISAPS. 4,315,859 hyaluronic acid operations and 6,271,488 botulinum toxin procedures were carried out globally in 2019.

    Over the projection period, the body shaping and contouring category is predicted to develop fastest. It is projected that noninvasive fat reduction techniques would surpass surgical approaches like liposuction. Body contouring services are provided by 54.07% of medical spas in the United States, according to the American Med Spa Association's 2017 State of the Medical Spa Industry report.

    By Age Group Type

    The market is segmented into adolescents, adults, and geriatric.

    Regional Analysis

    “North America held a dominant position in the market”.

    The medical spa market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Due to larger domestic and foreign spending on wellness tourism than in other areas, North America dominated the market in 2021. The market is anticipated to be additionally boosted by the simple accessibility of various services and items for various aesthetic operations in the United States and Canada.

    The unexpected commencement of the COVID-19 pandemic in 2021, however, resulted in a decline in the number of cosmetic procedures, which may impede the expansion of the market in the area. The COVID-19 pandemic, according to the American Society of Plastic Surgeons (ASPS), caused a more than 15% decrease in the number of cosmetic minimally invasive treatments from 2019 to 2020.

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    Key Players

    The following are the key players in the Medical Spa Market (arranged alphabetically)

    • Chic La Vie
    • Cienega Med Spa, Inc.
    • Clinique La Prairie
    • Crown Aesthetics
    • Dermani Medspa
    • Kurotel - Longevity Medical Center and Spa
    • Lanserhof Tegernsee
    • P Allure MedSpa
    • SHA Wellness Clinic
    • Willow Medspa

    Note: The above list does not necessarily include all the top players in the market.

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    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    in-depth Analysis of the Medical Spa Market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research:

    Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The medical spa market is expected to grow at a CAGR of 13.75% during 2022-2028.

    The medical spa market is likely to reach US$ 34 billion in 2028.

    The ageing of the population has contributed to an increase in minimally invasive procedures, which is one of the major drivers of the medical spa business.

    Due to larger domestic and foreign spending on wellness tourism than other areas, North America dominated the market in 2021. The market is anticipated to be additionally boosted by the simple accessibility of various services and items for various aesthetic operations in the United States and Canada.

    The major players in the medical spa market are Chic La Vie, Cienega Med Spa, Inc., Clinique La Prairie, Crown Aesthetics, Dermani Medspa, Kurotel - Longevity Medical Center and Spa, Lanserhof Tegernsee, P Allure MedSpa, SHA Wellness Clinic, Willow Medspa.

    The market is studied from 2016-2028.