New York, May 22, 2023 (GLOBE NEWSWIRE) -- According to the report published by Next Move Strategy Consulting, the global Medical Spa Market size generated USD 8.00 billion in 2022, and is projected to reach USD 22.85 billion by 2030, at a CAGR of 13.9% from 2023 to 2030.
The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight changing market dynamics of the market. Moreover, the research provides an extensive analysis of major segments and their sub-segments to determine the fastest-growing and highest revenue-generating segments.
Equipping the extensive analysis of each and every aspect of the market in 181 pages, accompanied by 96 tables and 66 figures, the report aims to become a source of guidance for market players, investors, and startups as they devise strategies for the next few years to achieve sustainable growth.
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| Report Coverage | Details |
| Forecast Period | 2023–2030 |
| Base Year | 2022 |
| Market Size in 2022 | USD 8.00 Billion |
| Market Size in 2030 | USD 22.85 Billion |
| CAGR | 13.9% |
| No. of Pages | 181 |
| Tables | 96 |
| Figures | 66 |
| Segments covered | Services, age group, gender and Geography |
| Drivers | Increasing demand for non-invasive cosmetic procedures |
| Growing popularity of wellness and self-care among individuals | |
| Rise in the number of skin-related diseases | |
| Opportunities | Technological advancements in skincare equipment |
The report offers a comprehensive analysis of the medical spa market dynamics based on drivers, restraining factors, and opportunities. The increase in the number of skin-related diseases, such as acne, eczema, and dermatitis is fueling the demand for medical spa treatments. However, the expensive prices of spa equipment and medspa treatments discourage people from trying out these services, which, as a result, slows down the market's growth.
Identifying the opportunities that leading players can take leverage to increase their market share, Next Move Strategy Consulting’s Lead Analyst for Life Sciences & Healthcare commented, “The availability of advanced skincare equipment in the medical spa market attracts more customers, increases revenue, and creates growth opportunities by offering a wide range of precise and effective treatments that enhance client satisfaction. This paves the way for substantial growth opportunities for market players in the medical spa industry.”
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Europe accounted for the highest share in 2022 and is expected to remain dominant throughout the forecast period. With an increasing number of visitors drawn to this region to explore its splendid natural landscapes, vibrant cultural customs, and rejuvenating wellness offerings, the demand for medical spas is projected to surge even higher. Based on the data provided by the Japan National Tourism Organization (JNTO), the number of international travelers to Japan in October 2022 was estimated to be 498,600, reflecting an extraordinary growth rate of 2,154.8% compared to the same month of the preceding year.
On the other hand, North America is estimated to witness substantial growth during the forecast period owing to the rise in disposable income in countries of this region, leading to increasing demand for aesthetic treatments. Moreover, the aging population in the US has played a major role in growth of the medical spa market in this region. According to the World Data Atlas, the population aged 15–64 years in the US was 65.1% in 2021.
The study analyzes each region and its countries by segments and their sub-segments to outline the steps to be taken to consolidate their presence in the medical spa industry. Furthermore, this analysis helps determine the fastest-growing segments and the highest-revenue-generating segments to take the next step accordingly.
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The report offers a detailed analysis of leading market players of the global medical spa market trends. Leading players analyzed in the research include Canyon Ranch, Chiva-Som, Cocoon Medical Spa, Clinique La Prairie, Hilton, Marriott International, Four Seasons Hotels and Resorts, Radisson Hotels International Inc., Hyatt Corporation, Wyndham Destinations, Shangri-La Asia Limited, Mandarin Oriental International Limited, Chic La Vie Med Spa, Cocoona Clinics, and Lanserhof Lans.
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