The global medical spa market was valued at $12,438 million in 2020, and is estimated to reach $29,542.33 million by 2030, growing at a CAGR of 9% from 2021 to 2030. Medical spas, also known as medispas, are a distinct combination of medicine and aesthetics. They provide medically recommended and supervised quality cosmetic treatments in a relaxing environment. Botox injections, wide range of dermal fillers, anti-wrinkle & fine line reduction treatments, acne therapy, facial treatments, and the laser procedures are all available at a medical spa.
All of these approved therapies are cosmetic in nature, with the goal of rejuvenating or enhancing an individual's appearance. Furthermore, anti-aging and non-surgical lifts that were previously only available in a physician's clinic are now widely available in medispas. Furthermore, these are gaining popularity as consumers increasingly prefer cosmetic or spa treatments that are medically supervised and also more reliable.
The major factors driving the growth of the medical spa market are an increase in the incidence of skin damage, changes in lifestyle, an increase in the adoption of noninvasive procedures, an increase in demand for the aesthetic industry, and cost effective procedures. Furthermore, an increase in disposable incomes in developing economies, as well as an increase in medical tourism in developing countries with lucrative service, drive the market growth.
In addition, rise in obesity among the global population due to increase in consumption of carbohydrate based food, packaged food, poor eating habits, and unhealthy lifestyle among young generation as well adults; thus leading to weight gain and further obesity. Furthermore, according to the World Obesity Federation if the current trends continue, it is estimated that approximately 2.7 billion adults will be overweight, over 1 billion affected by obesity, and 177 million adults severely affected by obesity by 2025. Thus, surge in obesity population is expected to boost the body shaping service and further contribute toward growth of the medical spa market.
However, low penetration in developed and developing countries as well as high cost of skilled therapy professionals, limit market growth. On the contrary, technological advancements in medispa-based medical treatments such as laser technology, dermal fillers, ultra-therapy, and others are expected to provide lucrative opportunities in the near future.
According to the annual audit report in 2019 of The British Association of Aesthetic Plastic Surgeons (BAAPS) organization that is solely dedicated to advancing safety, innovation and excellence in cosmetic surgery, over 28,000 procedures took place in 2018 and the biggest increase was from women for liposuction, which increased by 12%. Approximately 2,286 liposuctions in females and 232 in males were performed. Similarly, abdominoplasty treatment in women increased by 5% as compared to the previous year.
For instance, in August 2021, Hyatt Hotels Corporation announced that it is buying luxury resorts operator Apple Leisure Group (ALG) for $2.7 billion. ALG is one of the largest portfolio of luxury all-inclusive resorts in the Americas, with well-known high-end brands Secrets Resorts & Spa, Dreams Resorts & Spas, Breathless Resorts & Spas and Zoëtry Wellness & Spa Resorts as well as Alua Hotels & Resorts, which is expanding quickly in Europe as well. Thus, such strategy by the company is further expected to boost the medical spa market.
Market players have invested in offering various technologically advanced procedures for consumers. For instance, Canyon Ranch a global health and wellness company that owns and operates resorts and luxury spas offers Clear + Brilliant Laser treatment, Aquagold, Botox, Microneedling, Juvederm Dermal Filler and facial treatments. Cocoon Medical Spa an international medical spa offers cosmetic, slimming, laser and detox treatments. These wide range of service offering by market players have further increased the accessibility of for aesthetic enhancement across different regions, fueling the market growth.
For instance, according to the Plastic Surgery Statistics Report in 2020, by the American Society of Plastic Surgeons approximately 21,349 cosmetic surgical procedure of liposuctions among individuals of the age of 20-29 years and 54,994 among the age group of 30-39 years took place. Thus, rise in such cosmetic surgical and non-surgical treatments among young and middle aged population is a great opportunity for the key players to invest and is anticipated to drive the growth of the market.
Furthermore, presence of a plethora of products in the pipeline and high market potential in untapped emerging economies are anticipated to serve as attractive opportunities for market growth during the forecast period. Moreover, growth in medical tourism in developing economies, increasing consumer awareness for body shaping and aesthetic enhancement significantly propels the growth of the market.
The medical spa market is segmented on the basis of service and region. On the basis of service, the market is classified into body shaping, hair removal, facial treatment, tattoo removal, scars & striae, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, Middle East, and Africa (LAMEA).
The major players profiled in the report are Allure Medspa, Biovital Medspa, Canyon Ranch, Chiva Som, Cocoon Medical Spa, Clinique La Prairie, Hyatt Corporation, True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa and Westchase Medspa.
All of these approved therapies are cosmetic in nature, with the goal of rejuvenating or enhancing an individual's appearance. Furthermore, anti-aging and non-surgical lifts that were previously only available in a physician's clinic are now widely available in medispas. Furthermore, these are gaining popularity as consumers increasingly prefer cosmetic or spa treatments that are medically supervised and also more reliable.
The major factors driving the growth of the medical spa market are an increase in the incidence of skin damage, changes in lifestyle, an increase in the adoption of noninvasive procedures, an increase in demand for the aesthetic industry, and cost effective procedures. Furthermore, an increase in disposable incomes in developing economies, as well as an increase in medical tourism in developing countries with lucrative service, drive the market growth.
In addition, rise in obesity among the global population due to increase in consumption of carbohydrate based food, packaged food, poor eating habits, and unhealthy lifestyle among young generation as well adults; thus leading to weight gain and further obesity. Furthermore, according to the World Obesity Federation if the current trends continue, it is estimated that approximately 2.7 billion adults will be overweight, over 1 billion affected by obesity, and 177 million adults severely affected by obesity by 2025. Thus, surge in obesity population is expected to boost the body shaping service and further contribute toward growth of the medical spa market.
However, low penetration in developed and developing countries as well as high cost of skilled therapy professionals, limit market growth. On the contrary, technological advancements in medispa-based medical treatments such as laser technology, dermal fillers, ultra-therapy, and others are expected to provide lucrative opportunities in the near future.
According to the annual audit report in 2019 of The British Association of Aesthetic Plastic Surgeons (BAAPS) organization that is solely dedicated to advancing safety, innovation and excellence in cosmetic surgery, over 28,000 procedures took place in 2018 and the biggest increase was from women for liposuction, which increased by 12%. Approximately 2,286 liposuctions in females and 232 in males were performed. Similarly, abdominoplasty treatment in women increased by 5% as compared to the previous year.
For instance, in August 2021, Hyatt Hotels Corporation announced that it is buying luxury resorts operator Apple Leisure Group (ALG) for $2.7 billion. ALG is one of the largest portfolio of luxury all-inclusive resorts in the Americas, with well-known high-end brands Secrets Resorts & Spa, Dreams Resorts & Spas, Breathless Resorts & Spas and Zoëtry Wellness & Spa Resorts as well as Alua Hotels & Resorts, which is expanding quickly in Europe as well. Thus, such strategy by the company is further expected to boost the medical spa market.
Market players have invested in offering various technologically advanced procedures for consumers. For instance, Canyon Ranch a global health and wellness company that owns and operates resorts and luxury spas offers Clear + Brilliant Laser treatment, Aquagold, Botox, Microneedling, Juvederm Dermal Filler and facial treatments. Cocoon Medical Spa an international medical spa offers cosmetic, slimming, laser and detox treatments. These wide range of service offering by market players have further increased the accessibility of for aesthetic enhancement across different regions, fueling the market growth.
For instance, according to the Plastic Surgery Statistics Report in 2020, by the American Society of Plastic Surgeons approximately 21,349 cosmetic surgical procedure of liposuctions among individuals of the age of 20-29 years and 54,994 among the age group of 30-39 years took place. Thus, rise in such cosmetic surgical and non-surgical treatments among young and middle aged population is a great opportunity for the key players to invest and is anticipated to drive the growth of the market.
Furthermore, presence of a plethora of products in the pipeline and high market potential in untapped emerging economies are anticipated to serve as attractive opportunities for market growth during the forecast period. Moreover, growth in medical tourism in developing economies, increasing consumer awareness for body shaping and aesthetic enhancement significantly propels the growth of the market.
The medical spa market is segmented on the basis of service and region. On the basis of service, the market is classified into body shaping, hair removal, facial treatment, tattoo removal, scars & striae, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and Latin America, Middle East, and Africa (LAMEA).
The major players profiled in the report are Allure Medspa, Biovital Medspa, Canyon Ranch, Chiva Som, Cocoon Medical Spa, Clinique La Prairie, Hyatt Corporation, True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa and Westchase Medspa.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global medical spa market to identify the prevailing opportunities
- This study presents the competitive landscape of the global market to predict the competitive environment across geographies
- Comprehensive analysis of factors that drive and restrict the market growth is provided
- Region- & country-wise analysis is provided to understand the market trends and dynamics
KEY MARKET SEGMENTS
By Service
- Body Shaping
- Hair Removal
- Facial Treatment
- Tattoo Removal
- Scars & Striae
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Turkey
- Saudi Arabia
- Rest of LAMEA
KEY MARKET PLAYERS
- Allure Medspa
- Biovital Medspa
- Canyon Ranch
- Chiva Som
- Cocoon Medical Spa
- Clinique La Prairie
- Hyatt Corporation
- True Skin Care Center
- Vilalara Longevity Thalassa & Medical Spa
- Westchase Medspa
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Medical Spa Market, by Services
Chapter 5: Medical Spa Market, by Region
Chapter 6: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, Medical Spa Market by Service: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global medical spa market size was valued at $12,438 million in 2020, and is estimated to reach $29,542.33 million by 2030, growing at a CAGR of 9% from 2021 to 2030.Medical spa combines the medical expertise and technology with relaxing experience of a spa. Medical spa provides comprehensive skin care treatments, which also includes nutrition advices. These spas are unique blend of medicine and aesthetics, to provide quality cosmetic treatments in a relaxing environment. Also, these treatments are medically recommended and supervised.
Botox injections, anti-wrinkle and fine line reduction treatments, acne therapy, fillers, and the laser procedures are all provided by the medical spas under the supervision of certified doctors, cosmetologists, and dermatologist. All of these therapies are cosmetic in nature, with the goal of rejuvenating or improving an individual's appearance. Treatments for laser hair removal, laser skin tightening are also offered.
The major factors that drive the medical spa market growth are increase in use of aesthetic medicine and cosmetic treatment options for beauty enhancement coupled with growth in wellness trend among the developed countries in women as well as men. Moreover, rise in demand for aesthetic enhancement procedures such as facial treatments, cryolipolysis, laser lipolysis, liposuction, tummy tuck also known as abdominoplasty, ultrasound, injectable treatments, red light therapy, and others, owing to self-consciousness among the population, especially in women for beautification is on the rise. According to the American Society of Plastic Surgeons (ASPS) report in 2020, it is estimated that in America 15.6 million of cosmetic procedures were performed among which there were 2.3 million cosmetic surgical procedures and 13.2 million cosmetic minimally-invasive procedures. In addition, approximately $16.7 billion was spent on cosmetic procedures in the U.S.
In addition, advancement in various technology based procedures for tattoo removal, scars & striae removal. Moreover, increase in medical spas focus toward transition from offering aesthetic treatments exclusively to promoting health and wellness. Developed countries are expected to witness an increased growth in medical spa industries over the forecast period. Rise in the aging population, surge in the baby boomer population further drives market. Baby boomer population have more desire to feel empowered and younger. Medical spas offer facilities that conjoin traditional and modern technologies to fulfil their desire to look and feel younger. Most commonly, the baby boomers opt for facial treatments including aromatherapy and anti-aging therapies. Thus, the aforementioned factors are expected to significantly drive the growth of medical spa market in the forecast period.
However, lack of trained professionals and high cost associated with the procedures as well as its complications impede the market growth. Conversely, high market potential in the untapped emerging economies, rise in various product launches, partnerships, and collaborations among the key players, and development of high technology based procedures are expected to provide many opportunities for medical spa market growth during the forecast period.
By service, the market is segmented into body shaping, hair removal, facial treatment, tattoo removal, scars & striae, and others. The facial treatment segment generated maximum revenue in 2020, accounting $4,050.55 million and is expected to witness highest CAGR of 10.3% during the forecast period.
North America accounted for a majority of the global medical spa market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to increase in rise in awareness regarding self-appearance and significant increase in the baby boomer population, adoption of technologically advanced treatments and rise healthcare expenditure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to its high aging population base, increase in disposable incomes, and development of large number of spas offering varied medical treatments.
Key Findings Of The Study
- By service, facial treatments segment was the highest contributor to the medical spa market in 2020
- Region wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
Companies Mentioned
- Allure Medspa
- Biovital Medspa
- Canyon Ranch
- Chiva Som
- Cocoon Medical Spa
- Clinique La Prairie
- Hyatt Corporation
- True Skin Care Center
- Vilalara Longevity Thalassa & Medical Spa
- Westchase Medspa.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 114 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 12438 million |
| Forecasted Market Value ( USD | $ 29542.33 million |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
