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Medical Spa - Global Market Trajectory & Analytics

  • ID: 5303213
  • Report
  • January 2022
  • Region: Global
  • 295 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Allure Medspa
  • Canyon Ranch, Inc.
  • Clinique La Prairie
  • Hyatt Corporation
  • Lumenis, Ltd.
  • Spa Vitoria

Global Medical Spa Market to Reach US$25.9 Billion by the Year 2026


Medical Spa, also referred to as MedSpa, are cutting-edge, contemporary providers of an extensive range of therapies ranging from Botox treatments and liposuction to hair regeneration and hair removal. They are the latest niche in cosmetic surgery and medicine, and undoubtedly the fastest growing segment of the global cosmetic surgery market. The medical end of the MedSpa is taken care of by the presence of a practicing, specialized physician who is always required to be present on the premises. Since medical spas converge spa treatments and medical treatments, they offer the widest range of services possible. As medical spas are emerging, they are gaining rapid popularity among those who are financially well disposed and have an inclination towards beauty and wellness. Their success has been creating a quite a stir encouraging corporate houses, major hospital chains and leading pharmacological companies to invest funds in various MedSpas. Over the years, technological advancements have played a major role in shaping the MedSpa industry, increasing not just the availability of but also making the non-invasive treatments (for instance Botox) more affordable. The digital technology is currently a leading driver of the med spa growth, and is likely to remain so in the years ahead as technology enables people to look younger without undergoing painful procedures.

Amid the COVID-19 crisis, the global market for Medical Spa estimated at US$12.2 Billion in the year 2020, is projected to reach a revised size of US$25.9 Billion by 2026, growing at a CAGR of 13.5% over the analysis period. Facial Treatment, one of the segments analyzed in the report, is projected to grow at a 12.9% CAGR to reach US$13 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Body Shaping & Contouring segment is readjusted to a revised 15.7% CAGR for the next 7-year period. This segment currently accounts for a 18.8% share of the global Medical Spa market.

The U.S. Market is Estimated at $4.8 Billion in 2021, While China is Forecast to Reach $3.8 Billion by 2026


The Medical Spa market in the U.S. is estimated at US$4.8 Billion in the year 2021. The country currently accounts for a 37.72% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$3.8 Billion in the year 2026 trailing a CAGR of 18.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.3% and 12.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.2% CAGR while Rest of European market (as defined in the study) will reach US$947.3 Million by the end of the analysis period. Both business- and consumer-end response to the medical spa sector has been remarkable in recent years in the US. While new players have entered this space, existing wellness centres, dental clinics and even big retailers (such as department stores) have been expanding their offering to provide specialised services in order to attract more customers. The numbers of such centres are rapidly increasing, and are especially coming up on coasts. The concept of co-tenancy is fast catching on in the US MedSpa space, where department stores and other retailers are seen introducing dedicated flagship stores for offering medical spa services.

Hair Removal Segment to Reach $3.8 Billion by 2026


Growing acceptance of professional hair removal services is benefiting the market for medical spas. Hair removal technologies provide women and men with convenient and effective options to remove hair from specific parts of the body for a natural and hair-free skin. Continuous advances in these technologies have resulted in sophisticated products that work for different skin types and hair color. Hair removal technologies are commonly used to treat various areas including the face, upper lip, legs, pubic area, bikini line, fingers, back, chin, cheeks and feet. While these techniques are also intended to treat eyebrows, majority of customers consider low-tech means such as waxing, threading or plucking. Some of the next-generation hair removal treatments are intended for permanent removal of hair for long-lasting results. In the global Hair Removal segment, USA, Canada, Japan, China and Europe will drive the 14.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.3 Billion in the year 2020 will reach a projected size of US$3.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$343.1 Million by the year 2026, while Latin America will expand at a 17.4% CAGR through the analysis period.

Select Competitors (Total 160 Featured):

  • Allure Medspa
  • Biovital Medspa
  • Canyon Ranch, Inc.
  • Chiva Som
  • Clinique La Prairie
  • Cynosure, Inc.
  • Hyatt Corporation
  • Lanserhof
  • Lumenis, Ltd.
  • Sciton, Inc.
  • Spa Vitoria
  • Syneron Medical, Ltd.
  • True Skin Care Center
  • Vilalara Longevity Thalassa & Medical Spa
  • Westchase Medspa
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Allure Medspa
  • Canyon Ranch, Inc.
  • Clinique La Prairie
  • Hyatt Corporation
  • Lumenis, Ltd.
  • Spa Vitoria
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Medical Spas Mark the Convergence of Beauty & Medicine
  • Robust Outlook for the Beauty Industry Provides the Foundation for Growth in the Medical Spa Market
  • The Never-Ending “Race” Between the Virus & Vaccines Continues. Amidst this Chaotic Battle, Where is the World Economy Heading Now & Beyond?
  • Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
  • EXHIBIT 1: Time is of Essence! What We Know So Far - “Vaccine Efficiency Against New Strains is Decreasing”
  • With New Strains Emerging at an Alarming Rate, Focus Shifts to Booster Doses & Vaccine Tweaking. But How Practical Is It to Implement Them?
  • EXHIBIT 2: With Vaccinated Population Showing Signs of Declining Clinical Protection, Booster Doses Are Emerging Into a Necessity to Restore Vaccine Effectiveness, but this Strategy is Not Within Reach for Most Countries: Number of Booster Doses Administered Per 100 People by Country as of December 2021
  • At the Dawn of 2022, We Leave Behind Millions of Deaths Due to New Strains & Once Again Stare at an Impending Catastrophe
  • EXHIBIT 3: How & When Will the World Be Vaccinated? Global Number of Annual COVID-19 Vaccine Doses (In Million) for Years 2020 through 2025 by Geographic Region/Country
  • Split Scenarios Unfold: The Great Vaccine Divide Emerges
  • EXHIBIT 4: Vaccine Imbalances to Stretch the Pandemic Further into 2022: Global Percentage (%) of Population Administered With Vaccines by Region as of November 2021
  • Amid this Prolonged Pandemic, Why Should Businesses Care About Progress on Vaccinations?
  • With IMF Making an Upward Revision of Global GDP for 2021, Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • EXHIBIT 5: A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • EXHIBIT 6: Easing Unemployment Levels in 2021 & 2022 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
  • Medical Spa: Overview & Benefits
  • Recent Market Activity
  • World Brands

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • Growing Popularity of Beauty & Wellness Tourism & Post Pandemic Optimism for a Recovery Bodes Well for Medical Spas
  • Efforts to Push Beauty & Wellness Tourism, a Boon for Medical Spas
  • Beauty & Wellness Tourism to Attain Greater Heights in Post-Pandemic Era
  • Rise of Traditional Holistic Medicine Encourages Medical Spas to Focus on Alternative Health
  • Medical Spas Incorporate Herbs into all Aspects of the Spa Experience Encouraged by the Increasing Consumer Acceptance of Herbal Medicines
  • EXHIBIT 7: Strong Acceptance of Herbal Medicines Leads Medical Spas to Integrate Herbs into the Entire Treatment Experience: Global Opportunity for Herbal Medicines (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Rising Prevalence of Skin Diseases Drives Demand for Skin Treatments at Medical Spas
  • Desire to Look Young Among the Rapidly Aging World Population Drives Demand for Anti-Aging Services & Treatments at Medical Spas
  • EXHIBIT 8: Rapidly Aging Population Throws the Spotlight on the Massive Demand Potential for Anti-Aging Treatments: Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • EXHIBIT 9: Robust Growth in Spending on Anti-Aging Solutions to Support the Rise of Anti-Aging Medical Spas: Global Opportunity for Anti-Aging Products (In US$ Billion) for Years 2021, 2023, 2025 and 2027
  • Rise in Demand for Aesthetic Services Brightens the Outlook for Non-Invasive and Minimally-Invasive Medical Spa Treatments
  • EXHIBIT 10: Expanding Market for Aesthetic Services Provides a Goldmine of Service Opportunities for Medical Spas: Global Market for Aesthetic Services (In US$ Million) for Years 2021, 2023, 2025 and 2027
  • Medical Spas Expand Services to Include Dermal Fillers and Botox Treatment Encouraged by Strong Demand Patterns
  • Botulinum Toxin in the Spotlight
  • EXHIBIT 11: Cosmetic Botulinum Toxin Procedures Performed Worldwide (2021): Percentage Breakdown of Procedure Volume by Age Group
  • EXHIBIT 12: Global Market for Botulinum Toxin in Aesthetics Applications (In US$ Million) for Years 2021, 2023, 2025 and 2027
  • Boom in Demand for Cosmetic Procedures Amid the Pandemic Bodes Well for Market Growth
  • Thalassotherapy Harnesses Curative Properties of Seawater to Provide Holistic Spa Treatments
  • Increasing Acceptance of Male Aesthetics Present Untapped Growth Opportunities
  • Importance of Mental Wellness and Stress Management in the Aftermath of the Pandemic to Trigger Demand for Spa Therapy
  • Hair Removal, A Popular Service Offering in Medical Spas

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

AFRICA

IV. COMPETITION
  • Total Companies Profiled: 160
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Allure Medspa
  • Biovital Medspa
  • Canyon Ranch, Inc.
  • Chiva Som
  • Clinique La Prairie
  • Cynosure, Inc.
  • Hyatt Corporation
  • Lanserhof
  • Lumenis, Ltd.
  • Sciton, Inc.
  • Spa Vitoria
  • Syneron Medical, Ltd.
  • True Skin Care Center
  • Vilalara Longevity Thalassa & Medical Spa
  • Westchase Medspa
Note: Product cover images may vary from those shown