The medical spa market is growing due to increased preference
for medical aesthetics and acceptance of cosmetic procedures.
WILMINGTON, Del., July 10, 2024 /PRNewswire/ -- The global
medical spa market stood at US$
18.3 billion in 2023, and the global market is
projected to reach US$ 82.5 billion
in 2034. The medical spa market is anticipated to expand at
a CAGR of 14.9% between 2024 and 2034.
The medical spa market is experiencing significant growth driven
by a rising preference for medical aesthetics and a broader
acceptance of cosmetic medical procedures. Medical spas operate
under the supervision of licensed healthcare professionals, such as
medical doctors, ensuring a higher standard of safety and efficacy
compared to traditional spa settings. These establishments offer a
unique blend of advanced aesthetic procedures and therapeutic
services, combining the relaxing environment of a spa with the
expertise of medical professionals.
A key factor contributing to the market's expansion is the
increasing demand for non-invasive and minimally invasive
treatments. Procedures such as Botox injections, dermal fillers,
laser hair removal, and skin rejuvenation treatments are becoming
more popular due to their effectiveness, minimal downtime, and
reduced risk compared to surgical options. As consumers become more
aware of these advanced treatments, they are more inclined to opt
for medical spas that can provide such services.
Technological advancements also play a crucial role in the
growth of the medical spa market. Innovations in laser technology,
radiofrequency devices, and other aesthetic treatment tools have
improved the quality and variety of services offered. These
advancements enable medical spas to address a wide range of skin
and body concerns, attracting a diverse clientele.
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Medical Spa Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base Year
|
2020–2022
|
Size in 2023
|
US$ 18.3 Bn
|
Forecast (Value) in
2034
|
US$ 82.5 Bn
|
Growth Rate
(CAGR)
|
14.9 %
|
No. of
Pages
|
134
Pages
|
Segments
covered
|
Service Type, Age
Group, Gender, Service Provider
|
Furthermore, the aging population is a significant driver of
market growth. As people age, they seek treatments to maintain a
youthful appearance, boosting the demand for anti-aging procedures
available at medical spas. Additionally, the rise of social media
and the influence of beauty standards have contributed to the
increasing acceptance of cosmetic treatments, encouraging more
individuals to explore medical spa services.
The competitive landscape of the medical spa market is
characterized by a mix of established players and emerging
businesses. Strategic partnerships, mergers, and acquisitions are
common as companies strive to expand their service offerings and
geographic reach. Overall, the medical spa market is poised for
continued growth, driven by consumer demand for safe, effective,
and advanced aesthetic treatments.
Key Takeaways of Market Report
- Global Medical Spa market to generate absolute dollar
opportunity worth US$ 82.5
billion until 2034.
- Global Medical Spa market is valued at US$ 18.3 billion in 2023.
- North America is
forecasted to hold the largest share in 2023.
Medical Spa Market: Growth Drivers
- The aspiration to emulate influencers and celebrities has
heightened individuals' awareness of beauty standards and signs of
aging, such as fat deposits, wrinkles, and dull skin, at an earlier
age. This increased consciousness has driven a greater demand for
aesthetic enhancements to maintain a youthful appearance.
- In the past, cosmetic procedures were often stigmatized and
looked down upon. However, in recent years, there has been a
positive shift in societal attitudes.
- People have become more comfortable with aesthetic
enhancements, and discussions about such treatments have become
normalized, contributing to the growing acceptance and popularity
of cosmetic procedures.
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Medical Spa Market: Regional Landscape
- North America dominated
the cosmetic medical spa landscape, a trend expected to continue
during the forecast period. This dominance is attributed to the
rise in preventive care and wellness expenditures among consumers.
Medical spas are widely accepted as affordable alternatives to
medical treatments for minor skin issues, stress, and weight
management.
- Asia Pacific's
substantial growth in the medical spa market is driven by rapidly
expanding markets in South Korea,
Thailand, India, and China. The region's conventional wellness
practices also contribute to this growth, attracting consumers
seeking both modern and traditional treatments. This blend of
innovative and time-honored practices enhances the appeal of
medical spas in these countries.
Medical Spa Market: Key Players
- In 2023, Lanserhof expanded its offerings by
incorporating advanced regenerative medicine techniques into its
medical spa services. This development included personalized stem
cell therapies and cutting-edge anti-aging treatments, positioning
Lanserhof as a leader in innovative, science-backed wellness
solutions.
- In 2023, Canyon Ranch introduced a comprehensive mental
wellness program within its medical spa services. This program
integrated mindfulness practices, cognitive behavioral therapy, and
holistic stress management techniques, catering to the growing
demand for mental health and well-being solutions alongside
traditional aesthetic treatments.
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Medical Spa Market: Segmentation
Service Type
- Facial Treatment
- Body Shaping and Contouring
- Laser Hair Removal
- Scar Revision
- Tattoo Removal
Age Group
- Adolescent
- Adult
- Geriatric
Gender
Service Provider
- Single Ownership
- Group Ownership
- Free-standing
- Medical Practice Associated Spas
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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