Global Medical Spa Market Size Revenue Is Projected to Increase to USD 49.1 Billion by 2030, Growing at a CAGR of 14.61% | Advanced Massage System Analysis

Salt Lake City, UT, April 26, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled "Medical Spa Market By End-User (Men And Women), By Service Provider (Free-Standing, Single Ownership, Medical Practice Associated Spas, And Group Ownership), By Services (Body Shaping, Facial Treatment, Tattoo Removal, Hair Removal, Scar Revision, And Contouring), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" in its research database.

"According to the latest research study, the demand of global Medical Spa Market size & share in terms of revenue was valued at USD 16.51 billion in 2022 and it is expected to surpass around USD 49.1 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 14.61% during the forecast period 2023 to 2030."

What is Medical Spa? How big is the Medical Spa Industry?

Report Overview:

The global medical spa market size was worth around USD 16.51 Billion in 2022 and is predicted to grow to around USD 49.1 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 14.61% between 2023 and 2030.

A medical spa, also known as a med spa, is a combination of spa treatment and medical services. These facilities offer a wide range of aesthetic and cosmetic services to improve and enhance clients' appearance and well-being. The medical spa industry refers to the companies or units that provide these procedures including laser hair removal, Botox injections, chemical peels, microdermabrasion, and other non-surgical cosmetic procedures. In recent years, the industry has grown tremendously as people have gained more awareness about the availability of such processes and the willingness to spend on improving physical aesthetics. The medical spa industry is run by a range of providers that includes small independent spas to larger chains, and during the forecast period, it is expected to grow at a rapid rate.

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Global Medical Spa Market: Growth Factors

The global medical spa market is projected to grow owing to the increasing popularity of wellness and self-care leading to more interest in medi-spa services. Consumers are now looking for ways to improve their physical well-being and appearance. Since medical spas offer such services, their demand has grown tremendously. In addition to this, social media and celebrity culture have been highly influential in setting the trend for common everyday operations such as laser hair removal. Since medical spas offer a range of such services such as dermal fillers and Botox injections, the industry can expect more growth. There are growing concerns over the negative influence of photo-sharing platforms such as Instagram, Pinterest, and others that make use of excessive technology-generated filters used by social media personalities.

This directly impacts the way beauty is perceived by many people leading to more people shifting toward cosmetic procedures to enhance or change their physical appearance. Furthermore, the growing geriatric population is another significant contributor to the medical spa market growth rate since the services in the industry can cater to the needs of people looking for the treatment of aging signs, such as wrinkles and sagging skin.

The global medical spa market also faces certain growth restrictions, especially in terms of safety concerns of the services undertaken by the industry players. Although these units operate under the supervision of trained medical professionals, there is always a risk of side effects or other complications. In countries with sub-par infrastructure to support the industry, there are a growing number of inexperienced professionals leading to botched surgeries or processes. Furthermore, the high maintenance associated with these services is a major drawback for the industry as people may get tired of having to undergo the process multiple times.

The increasing demand for personalized treatment may provide growth opportunities while regulatory compliance could challenge market growth.

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Report Scope

Medical Spa Market: Segmentation Analysis

The global medical spa market is segmented based on end-user, service providers, services, and others.

Based on end-user, the global market segments are men and women. Although both gender types undergo medical spa treatment depending on their needs, in 2022, the industry registered the highest growth in the women segment since historically women have been primary consumers of such services. As per the American Society of Plastic Surgeons, men accounted for about 10% of all cosmetic procedures, in 2020. However, with the growing acceptance of men's grooming and culturally changing trends on basic hygiene for women and men, the segment consisting of the male population is likely to grow at a rapid rate. The most common processes that men undertake include hair removal, non-surgical fat reduction, and body contouring procedures.

Based on service providers, the global market segments are free-standing, single ownership, medical practice associated spas, and group ownership. In 2022, the medical spa industry registered the highest CAGR in the free-standing medical spa area, especially in the United States. These are standalone facilities offering a range of cosmetic treatments, with more focus on non-invasive or minimally invasive procedures. They may either be owned by a group or by an individual, but they must employ medical professionals such as nurse practitioners, nurses, or physicians. Typically, laser hair removal treatments can range from $100 to $500 per session.

Based on services, the global market segments are body shaping, facial treatment, tattoo removal, hair removal, scar revision, and contouring.

The global Medical Spa market is segmented as follows:

By End-User

• Men
• Women

By Service Provider

• Free-Standing
• Single Ownership
• Medical Practice Associated Spas
• Group Ownership

By Services

• Body Shaping
• Facial Treatment
• Tattoo Removal
• Hair Removal
• Scar Revision
• Contouring

Browse the full "Medical Spa Market By End-User (Men and Women), By Service Provider (Free-Standing, Single Ownership, Medical Practice Associated Spas, and Group Ownership), By Services (Body Shaping, Facial Treatment, Tattoo Removal, Hair Removal, Scar Revision, and Contouring), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/global-medical-spa-market

Competitive Landscape

Some of the main competitors dominating the global Medical Spa market include - 

• Revance Therapeutics
• Allergan
• Syneron Medical Ltd.
• Cutera
• Aesthetics Biomedical
• SkinMedica
• Cynosure
• Merz Pharma
• Venus Concept
• DermaConcepts
• Lumenis Ltd.
• Zeltiq Aesthetics
• Alma Lasers
• Palomar Medical Technologies
• Sciton Inc.
• Sientra Inc.
• Solta Medical
• SkinPen
• BTL Aesthetics
• SkinPen
• Thermi
• Neocutis
• Galderma
• Obagi Medical Products
• SkinCeuticals.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Medical Spa market is likely to expand at a CAGR of around 14.61% during the forecast period (2023-2030).                            
• In terms of revenue, the Medical Spa market size was valued at around US$ 16.51 billion in 2022 and is projected to reach US$ 49.1 billion by 2030.
• The medical spa market is projected to grow at a significant rate due to the increasing demand for minimally invasive cosmetic treatments
• Based on end-user segmentation, women were predicted to show maximum market share in the year 2022.
• Based on services segmentation, facial treatments were the leading services in 2022.
• On the basis of region, North America was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Medical Spa industry?
• What are the main driving factors propelling the Medical Spa Market forward?
• What are the leading companies in the Medical Spa Industry?
• What segments does the Medical Spa Market cover?
• How can I receive a free copy of the Medical Spa Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By End-User, By Service Provider, By Services, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is anticipated to lead the global medical spa market mainly due to the presence of robust infrastructure that supports a high number of medical spa services across the regions of the US and Canada. The former is anticipated to lead with the highest growth owing to the growing number of people undertaking these services. Europe is the second-most revenue-generating region for the global market with France and the UK leading with high revenue. The market in Europe is driven by a combination of factors including, the popularity of medical tourism, a desire for anti-aging treatments, and the rise of non-invasive cosmetic procedures. In Asia-Pacific, South Korea and China are expected to grow at a rapid rate. People in these countries are spending millions of dollars on improving physical attributes and it is a growing cause of concern for the regional governments.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In September 2022, the U.S. Food and Drug Administration (FDA) approved an anti-wrinkle injection by Revance Therapeutics. The market has long been dominated by Botox injections developed by AbbVie
• In April 2023, Sentient Sculpt was introduced in the US market. The product is a non-invasive microwave treatment that targets cellulite
• In October 2022, Birch Medical Spas announced its partnership with Elase Medical Spas as its introductory partner

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/global-medical-spa-market

FREQUENTLY ASKED QUESTIONS

• What is medical spa?
• Which key factors will influence the medical spa market growth over 2023-2030?
• What will be the value of the medical spa market during 2023-2030?
• What will be the CAGR value of the medical spa market during 2023-2030?
• Which region will contribute notably towards the medical spa market value?
• Which are the major players leveraging the medical spa market growth?

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