MONTREAL, Dec. 07, 2022 (GLOBE NEWSWIRE) -- A Qualitative Research Study accomplished by Data Bridge Market research's database titled as "Medical Spa Market" with 100+ market data Tables, Pie Charts, Graphs & Figures spread through Pages and easy-to-understand detailed analysis. Key elements of this report range from industry outlook along with critical success factors, industry dynamics or market definition in terms of drivers and restraints, market segmentation and value chain analysis, key opportunities or developments, application, and technology outlook, regional or country-level analysis to the competitive landscape. In an all-inclusive Medical Spa report, market definition studies the market drivers and market restraints which gives a clear idea to businesses about taking the decision of whether to enhance or reduce the production of a particular product. On the other hand, market segmentation estimates the usage of the product with respect to its applications, end user, or with respect to geography. Besides, competitor analysis is one of the most imperative aspects of market research reports which aids businesses in deciding upon strategies by matching them up with the competitors.
Data Bridge Market Research analyses that the medical spa market which was USD 14.4 billion in 2021, would rocket up to USD 41.37 billion by 2029, and is expected to undergo a CAGR of 14.10% during the forecast period from 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Overview:
Medical spas, sometimes known as medi-spas or medspas, aim to mix various medical procedures that would ordinarily be conducted in a doctor's office with the experience of a spa. There is a special emphasis on anti-aging therapy. Indeed, medical spas may now provide non-surgical anti-aging therapies that were previously exclusively available in a doctor's office. However, medical spas must be owned and run by a trained physician in some jurisdictions.
The medical spa has evolved to meet the ever-changing needs of its clientele. As customers become more social media savvy, anti-aging products are becoming more popular. As a result, major corporations must now provide innovative and efficient services. The rising demand for anti-aging skincare treatments is the primary driver of this market, and this trend is expected to continue as millennials get older. According to the American Society of Plastic Surgeons, those aged 30 to 39 accounted for 45 percent of cosmetic surgeries in the United States in 2020, with 6.1 million total cosmetic procedures, including 684,000 surgical procedures and 5.4 million minimally invasive surgeries.
Opportunities
- Surge in use of cosmetic treatment and medicines
Technological advancements in skincare equipment, an increase in the number of skin-related ailments, an ageing population, and an increase in demand for improved medical spa services are some of the causes driving this trend. Furthermore, the medical spa industr is expected to benefit from the expansion of medical tourism in developing nations such as China, Singapore, Brazil, and India.
- Rapid growth of the medical spa market
Furthermore, with the rising use of dermal fillers, laser hair removal, and rejuvenation procedures, the market is expected to expand. Furthermore, enterprises in emerging nations are giving tailored beauty treatments to justify higher charges, thereby assisting in the development of the industry in such countries. Furthermore, technology developments and device price reductions are expected to provide profitable growth prospects.
Some of the major players operating in the medical spa market are:
- BIOVITAL MEDSPA (U.S.)
- Westchase Medsap, LLC (U.S.)
- Chic la Vie Med Spa (U.S.)
- Lanserhof (Austria)
- Canyon Ranch (U.S.)
- Serenity Medspa (U.S)
- Bijoux Medi-Spa (U.K)
- Brenners Park-Hotel & Spa (Germany)
- Sha Wellness Clinic (UAE)
- Cocoona (UAE)
- Aesthetics Medispa (UK)
- Lily's Medi Spa (U.S.)
- The Drx Medispa (China)
- Chiva Som (U.S.)
- Mandarin Oriental (U.S.)
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Recent Development
- Clinique La Prairie's Bangkok Medical Spa & Aesthetics destination debuted a new medical menu in June 2021.
- In March 2020, the company announced a collaboration with Minor Hotels' St. Regis Bangkok to open a new medical spa.
Market intelligence platform will help you understand:
- Identify emerging market trends & dynamics
- Market intelligence with quality and accuracy
- Benchmark against competitors & industry
- Explore competitive strategy & market share
- Discover regional market opportunities
Data Bridge Market Research employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of methodology employed for all our studies include:
Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, and industry experience and domain expertise.
Drivers: Medical Spa Market
- Growing demand for aesthetic medicines and cosmetic treatment
Furthermore, the worldwide ageing of the baby boomer population, combined with rising disposable incomes, is propelling the medical spa industry forward, resulting in increased consumer awareness of self-care and anti-aging services and a rapid expansion of the wellness tourism sector.
- Rising consumer disposable income
The rise of the tourism sector, particularly in emerging countries, is further raising demand for such services. Key corporations provide tailored beauty treatments to justify premium charges and use their position. The incorporation of biophilic design and wellness architecture into the entire structural design of the property is an emerging trend in the industry.
- Increase in awareness among people regarding the enhancement of self-appearance
At addition, new facial treatments offered in medical spas, such as the ultrasonic fountain, nature signature facial, oxygen facial, derma wave, and HydraFacial MD, are helping to drive segment growth.
Segmentation: Medical Spa Market
By Service
- Facial Treatment
- Body Shaping & Contouring
- Hair Removal
- Scar Revision
- Other services
By End-User:
- Men
- Women
Market Regional Analysis/Insights
The medical spa market is analysed and market size insights and trends are provided by country, service and end-user as referenced above.
The countries covered in the medical spa market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America led the medical spa market and accounted for the greatest revenue share of 42.3 percent in 2020. Due to higher expenditure on wellness tourism (domestic and international traffic) than other areas. The simple availability of numerous services and goods for various aesthetic operations in the United States and Canada is likely to grow the medical spa market even further.
Due to the expanding popularity and growth of the wellness tourism sector and rising wellness tourism expenditure, Asia Pacific is estimated to grow at the quickest rate over the projection period. The regional market will continue to increase as interest in experiencing travel grows and airline and travel choices become more affordable.
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Key Coverage in the Medical Spa Market Report:
- Detailed analysis of the Global Medical Spa Market by a thorough assessment of the technology, product type, application, and other key segments of the report
- Qualitative and quantitative analysis of the market along with CAGR calculation for the forecast period
- An investigative study of the market dynamics including drivers, opportunities, restraints, and limitations that can influence the market growth
- Comprehensive analysis of the regions of the Medical Spa industry and their futuristic growth outlook
- Competitive landscape benchmarking with key coverage of company profiles, product portfolio, and business expansion strategies
The investment made in the study would provide you access to information such as:
- Global Medical Spa Market [Global – Broken down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country-wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Medical Spa Market: Regulations
- Market Overview
- Global Medical Spa Market, By Service
- Global Medical Spa Market, By End-User
- Global Medical Spa Market, By Region
- Global Medical Spa Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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Objectives of the Report
- To carefully analyze and forecast the size of the Medical Spa market by value and volume.
- To estimate the market shares of major segments of the Medical Spa
- To showcase the development of the Medical Spa market in different parts of the world.
- To analyze and study micro-markets in terms of their contributions to the Medical Spa market, their prospects, and individual growth trends.
- To offer precise and useful details about factors affecting the growth of the Medical Spa
- To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Medical Spa market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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