Rise in incidence of skin damage, changes in lifestyle, growth in adoption of non-invasive procedures, increase in demand for the aesthetic industry, and cost-effective procedures are the major factors that drive the growth of the global medical spa market. In addition, upsurge in disposable incomes and expansion of medical tourism in the developing economies with lucrative services boost the market growth. However, low penetration in the developed and underdeveloped countries and high cost of skilled therapy professionals restrain the market growth. On the contrary, technological advancement in medical treatments conducted in medispas, such as laser technology, dermal fillers, cellfina, ultra-therapy, and others, are expected to offer lucrative opportunities during the forecast period.
The global medical spa market is segmented on the basis of service and region. According to service, the market is characterized into body shaping, hair removal, facial treatment, tattoo removal, scar & striae, and vascular lesion. Considering the region, it is analyzed across North America, Europe, Asia-Pacific, and Latin America Middle East and Africa (LAMEA).
The study provides an in-depth analysis of the global medical spa market with current trends and future estimations to elucidate the imminent investment pockets.
A comprehensive analysis of factors that drive and restrict the market growth is provided.
A holistic quantitative analysis of the industry from 2017 to 2025 is provided to enable the stakeholders to leverage the existing market opportunities.
An extensive analysis of the key segments of the industry helps to determine the viability of the products and technologies used globally.
The key market players and their strategies are provided to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
Scars & striae
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY PLAYERS PROFILED
Canyon Ranch, Inc.
Clinique La Prairie
True Skin Care Center
Vilalara Longevity Thalassa & Medical Spa
What is the estimated value of the Global Medical Spa Market?
What is the growth rate of the Global Medical Spa Market?
What is the forecasted size of the Global Medical Spa Market?
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porters five forces analysis
3.4. Market dynamics
220.127.116.11. Rise in use of aesthetic medicine and cosmetic treatment options for beauty enhancement
18.104.22.168. Growth in wellness trend among developed nations
22.214.171.124. Aging baby boomer population augments the market growth
126.96.36.199. Dearth of trained professionals especially in the developing economies
188.8.131.52. High cost of procedures
184.108.40.206. Rise in medical tourism
4.1.1. Market size and forecast
4.2. Body Shaping
4.2.1. Key market trends and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Hair Removal
4.3.1. Key market trends and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
4.4. Facial Treatments
4.4.1. Key market trends and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market analysis, by country
4.5. Tattoo Removal
4.5.1. Key market trends and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market analysis, by country
4.6. Scars & Striae
4.6.1. Key market trends and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market analysis, by country
4.7.1. Key market trends and opportunities
4.7.2. Market size and forecast, by region
4.7.3. Market analysis, by country
5.1.1. Market size and forecast
5.2. North America
5.2.1. Key trends and opportunities
5.2.2. North America market size and forecast, by country
220.127.116.11. U.S. market size and forecast, by services
18.104.22.168. Canada market size and forecast, by services
22.214.171.124. Mexico market size and forecast, by services
5.2.3. North America market size and forecast, by services
5.3.1. Key trends and opportunities
5.3.2. Europe market size and forecast, by country
126.96.36.199. UK market size and forecast, by services
188.8.131.52. Germany market size and forecast, by services
184.108.40.206. France market size and forecast, by services
220.127.116.11. Italy market size and forecast, by services
18.104.22.168. Spain market size and forecast, by services
22.214.171.124. Rest of Europe market size and forecast, by services
5.3.3. Europe market size and forecast, by services
5.4.1. Key trends and opportunities
5.4.2. Asia-Pacific market size and forecast, by country
126.96.36.199. Japan market size and forecast, by product
188.8.131.52. China market size and forecast, by product
184.108.40.206. India market size and forecast, by product
220.127.116.11. Australia market size and forecast, by product
18.104.22.168. Korea market size and forecast, by product
22.214.171.124. Rest of Asia-Pacific market size and forecast, by product
5.4.3. Asia-Pacific market size and forecast, by services
5.5.1. Key trends and opportunities
5.5.2. LAMEA market size and forecast, by country
126.96.36.199. Brazil market size and forecast, by services
188.8.131.52. Turkey market size and forecast, by services
184.108.40.206. South Africa market size and forecast, by services
220.127.116.11. Saudi Arabia market size and forecast, by services
18.104.22.168. Rest of LAMEA market size and forecast, by services
5.5.3. LAMEA market size and forecast, by services
6.1.1. Company overview
6.1.2. Company snapshot
6.1.3. Operating business segments
6.2. BIOVITAL MEDSPA
6.2.1. Company overview
6.2.2. Company snapshot
6.2.3. Operating business segment
6.3. CANYON RANCH INC.
6.3.1. Company overview
6.3.2. Company snapshot
6.3.3. Operating business segments
6.4. CHIVA SOM
6.4.1. Company overview
6.4.2. Company snapshot
6.4.3. Operating business segments
6.5. CLINIQUE LA PRAIRIE
6.5.1. Company overview
6.5.2. Company snapshot
6.5.3. Operating business segments
6.6. HYATT CORPORATION
6.6.1. Company overview
6.6.2. Company snapshot
6.6.3. Operating business segments
6.6.4. Business performance
6.7. Sciton, Inc.
6.7.1. Company overview
6.7.2. Company snapshot
6.7.3. Operating business segments
6.8. True Skin Care Center
6.8.1. Company overview
6.8.2. Company snapshot
6.8.3. Operating business segments
6.9. VILALARA LONGEVITY THALASSA & MEDICAL SPA
6.9.1. Company overview
6.9.2. Company snapshot
6.9.3. Operating business segments
6.10. WESTCHASE MEDSPA
6.10.1. Company overview
6.10.2. Company snapshot
6.10.3. Operating business segments
Medical spas or medispas uniquely blend medicine and aesthetics to provide quality cosmetic treatments in a relaxed ambience. Anti-wrinkle injections, Botox injections, fine-line reduction, acne therapy, and fillers are some of the various treatments included in medical spas.
Increasing use of aesthetic medicine and cosmetic treatment options for beauty enhancement and growing wellness trends among the developed countries drive the market. However, the medical spa procedures are very expensive, which restricts the market growth, especially in the developing economies. Moreover, the expansion of medical tourism in developing countries, such as India, Chi, and Brazil, creates lucrative opportunities for key market players.
Among the service category, the body shaping segment accounted for one-fifth revenue share of the global market in 2017. This has been owing to the recent advances in body shaping, which include various non-invasive techniques that eble lesser hospitalization and faster recovery. Thus, such advances in the body shaping segment are anticipated to augment the market growth.
Additiolly, the hair removal segment accounted for one-sixth share in 2017 of the global market revenue. This growth is attributed to the innovations in the laser technology, owing to which permanent hair removal is now feasible. This also supplements the market growth.
Key Findings of the Medical Spa Market:
The tattoo removal segment accounted for about one-seventh revenue share of the total market in 2017, and is expected to register a CAGR of 11.8% from 2018 to 2025.
U.S. dominated the North America medical spa market and is projected to retain its trend throughout the forecast period.
India is the fastest-growing country in the Asia-Pacific medical spa market, registering a CAGR of 14.2% during the forecast period.
Brazil is the fastest-growing country in the LAMEA medical spa market, registering a CAGR of 13.9% during the forecast period.
In 2017, North America was the dominant revenue contributor, owing to the increase in the wellness trend and the early adoption of novel technologies in this sector. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high-populace countries, such as India and Chi. In addition, the medical tourism enhancement also fuels the market growth.
The key players operating in the global medical spa market are Allure Medspa, Biovital Medspa, Canyon Ranch, Inc., Chiva Som, Clinique La Prairie, Hyatt Corporation, Sciton, Inc., True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa, and Westchase Medspa. Other players operating in the value chain are Cynosure, Inc., Lumenis, Ltd., Syneron Medical, Ltd., Spa Vitoria, and Lanserhof.
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.