Medical Spa Market Size, Share & Trends Analysis Report By Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal), By Region, And Segment Forecasts, 2022 - 2030

Medical Spa Market Growth & Trends

The global medical spa market size is expected to reach USD 49.4 billion by 2030 registering a CAGR of 14.82%, according to a new report by Grand View Research, Inc. Increasing demand for non-invasive aesthetic treatment is one of the key factors driving the market growth. Moreover, the high influence of social media among millennials and the rising demand for dermal fillers are propelling the demand for medical spas. Technological advancements, such as laser systems, have resulted in increased costs of medical spa procedures. For instance, in 2016, the average cost of laser skin resurfacing procedures increased by around 15%. However, rising disposable income levels will drive the demand for novel procedures.

The rapidly rising global population is increasing the demand for aesthetic cosmetic treatments and minimally invasive solutions. Availability of the best anti-aging treatments, relaxing atmosphere, quality services provided by certified professionals, and innovative & cutting-edge technology are leading to an increase in preference for medical spas. The growing popularity and trend of wellness tourism and rising awareness about aesthetic procedures are anticipated to further expand the market in the forecast period.

The onset of the COVID-19 pandemic resulted in a revenue loss for cosmetic service providers. Aesthetic procedures are considered elective and non-essential and hence were postponed or canceled during the pandemic. On the other hand, the lockdown encouraged people to use video conferencing facilities, which made them more conscious of their looks. This led people to opt for cosmetic treatments as soon as the medical facilities re-opened, providing considerable growth opportunities for the market.

Medical Spa Market Report Highlights

• Based on service, the facial treatment segment dominated the market in 2021 due to the increasing demand for minimally invasive facial procedures. According to ISAPS, 821,890 rhinoplasties, 448,485 facelifts, 369,497 chemical peels, and 270,917 brow lifts were performed in 2019 globally. This is expected to boost the segment growth.
• The body shaping & contouring segment is anticipated to register remarkable growth from 2022 to 2030. According to ISAPS, non-surgical fat reduction is the fourth leading non-surgical cosmetic procedure in the world. In 2019, a total of 462,769 non-surgical fat reduction surgeries were performed worldwide. This is likely to favor segment growth.
• North America accounted for the maximum market share in 2021. According to International Spa Association (ISPA), in the U.S., an average of around 179 million people visit spas annually. Increasing adoption of aesthetic procedures is driving the market growth in North America.