Medical Spa Market Size, Share & Trends Analysis Report By Service (Facial Treatment, Body Shaping & Contouring), By Age Group, By Gender, By Service Provider, By Region, And Segment Forecasts, 2023 - 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 14.97% from 2023 to 2030, 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. 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. 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 and 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
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