Medical Spa Market: Current Analysis and Forecast (2021-2027)

Medical Spa Market: Current Analysis and Forecast (2021-2027)

Global Medical Spa Market is anticipated to grow with an elevated CAGR of around 13% over the forecast period (2021-2027). Medical Spas provide a variety of various aesthetic treatments such as Botox injections, anti-wrinkle, and fine line reduction treatments, acne therapy, fillers, and the latest laser procedures that enhances the individual appearance.

With the rapid advancement in technology and rising awareness of personal care among the population. The increasing incidences of premature aging due to population and inappropriate nutrition is a driving factor for the market growth of the medical spa. Furthermore, the increasing prevalence of hair loss cases is one of the major factors affecting the market for the medical spa. For instance, in a survey conducted by the Brazilian Society of Dermatology in 2020, Alopecia areata accounted for 1.2% of all dermatological consultations. Among the causes of hair loss, it was only less frequent than androgenetic alopecia and telogen effluvium. Moreover, the increasing celebrity endorsement along with the increasing influence of social media on medical aesthetics significantly contributes to the growth of the medical spa market.

Chic La Vie, Clinique La Prairie, Kurotel - Longevity Medical Center and Spa, Lanserhof Lans, The Orchard Wellness Resort, Biovital Medspa, Allure Medspa, Longevity Wellness Worldwide, and Serenity Medspa, are some of the prominent players operating in the Medical Spa market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of Medical Spa devices.

Insights Presented in the Report
"Amongst Service Type, facial treatment segment holds the major share”

Based on service type, the medical spa market is segmented into facial treatment, body shaping & contouring, hair removal, scar revision, tattoo removal, and others. The facial hair segment accounted for a significant market share in 2020 and it is estimated that it will exhibit a higher CAGR during the forecast period. The growth of this segment is due to the reason that the facial skin is considered thinner than other body parts and it is the most exposed part of the body and is highly affected by pollution, dirt, and UV light resulting in the face requiring more care. Furthermore, the increasing availability of minimally invasive treatments for facial beauty contributes to the growth of the segment in the medical spa market. For instance, fat- face a soft tissue fillers technique accounted for 133,720 procedures in 2020.
"Amongst Age, adults segment holds the major share”

Based on age, the market is divided into adults, adolescents, and geriatrics. The adult segment grabbed a significant market share in 2020 and is anticipated to grow at a rapid rate in the upcoming years owing to the rapidly increasing adult population and their increasing interest in aesthetic beauty and products. In 2020, the U.S. Census Bureau counted 331.4 million people living in the United States out of which the 258.3 million were adults, 18 years or older a 10.1% increase from 234.6 million in 2010. Furthermore, the appearance of aging signs in the early 30s such as wrinkles, baldness, and dark spots is one of the factors for the segmental growth in the medical spa market.

“North America represents one of the largest markets of Medical Spa market”

For a better understanding of the market dynamics of the Medical Spa market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. In 2020, North America dominated the Medical Spa industry. This can be mainly due to the increasing influence of botox treatment among the adult population coupled with their growing disposable income supporting the growth of the medical spa market in the region. Furthermore, the surging skin melanoma cases in the region increase cautiousness about skin and personal health that resulting in the increasing popularity of medical spas in the region. As per the national cancer institute, 99,780 new cases of skin melanoma have been reported in the year 2022 which is 5.2% of the new cases.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry