Global Medical Spa Market Is Predicted to Grow Around USD 49.1 Billion By 2030

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.

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.

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.

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.

This review is based on a report by Zion Market Research, 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.”- Report at https://www.zionmarketresearch.com/report/global-medical-spa-market

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

The global medical spa market is led by players like:

• 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.

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

By Region

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

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com