New York, United States , June 19, 2024 (GLOBE NEWSWIRE) -- The Global Medical Spa Market Size Expected to Grow from USD 18.79 Billion in 2023 to USD 72.83 Billion by 2033, at a CAGR of 14.51% during the forecast period 2023-2033.
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A medical spa, often known as a med spa, provides a variety of cosmetic treatments such as Botox injections, Juvéderm, fine line treatments, anti-wrinkle, acne therapy, dermal fillers, and technology-based laser procedures. Chemical peels, non-surgical skin tightening, tattoo removal, and body sculpting are among the most popular minimally invasive procedures. With rising global demand for beauty and self-improvement treatments, the medical spa sector is becoming increasingly profitable. Demand for aesthetic medicine is increasing due to a desire to retain youthfulness and self-appearance, as well as a rise in disposable spending in developing nations. Furthermore, improvements in non-invasive techniques, including as body sculpting and fat melting, are likely to give patients a multitude of options for self-improvement, propelling the medical spa market ahead. However, the medical spa sector is unregulated, which raises safety issues for patients. Some patients are worried to visit medical spas, which will impede industry expansion.
Browse key industry insights spread across 244 pages with 110 Market data tables and figures & charts from the report on the "Global Medical Spa Market Size, Share, and COVID-19 Impact Analysis, By Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal, and Other Services), By Gender (Male and Female), By Age Group (Adolescent, Adult, and Geriatric), By Service Provider (Single Ownership, Group Ownership, Free-standing, Medical Practice Associated Spas), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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The facial treatment segment is expected to hold the largest share of the global medical spa market during the anticipation timeframe.
Based on the service, the global medical spa market is categorized into facial treatment, body shaping & contouring, hair removal, scar revision, tattoo removal, and other services. Among these, the facial treatment segment is expected to hold the largest share of the global medical spa market during the anticipation timeframe. Consumer demand is crucial, with treatments addressing common concerns like as anti-aging therapy and skin rejuvenation increasingly popular. Effectiveness, safety, and minimum downtime are all key concerns because services that provide big benefits with minimal risk tend to attract a larger customer base.
The female segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the gender, the global medical spa market is categorized into male and female. Among these, the female segment is expected to grow at the fastest CAGR during the anticipation timeframe. The rising number of females performing various cosmetic procedures is driving the market forward. Women choose spa treatments to increase their self-esteem, mental well-being, and physical enjoyment. Botox and dermal injection visits have surged as women seek to change the appearance of their faces.
The adult segment is expected to hold a significant share of the global medical spa market during the anticipation timeframe.
Based on the age group, the global medical spa market is categorized into adolescent, adult, and geriatric. Among these, the adult segment is expected to hold a significant share of the global medical spa market during the anticipation timeframe. As people grow more aware of the need of self-care and aesthetic enhancements, they are more willing to invest in non-invasive cosmetic procedures provided by medical spas to maintain a youthful appearance and improve their overall health.
The single ownership segment is predicted to dominate the global medical spa market during the anticipation timeframe.
Based on the service provider, the global medical spa market is categorized into single ownership, group ownership, free-standing, and medical practice associated spas. Among these, the single ownership segment is predicted to dominate the global medical spa market during the anticipation timeframe. Single ownership enables the development of a distinct brand voice and reputation, which interacts with target consumers and generates repeat business. Single-owner spas stay ahead of industry trends by emphasising continuous improvement and innovation, ensuring their market relevance and importance.
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North America is projected to hold the largest share of the global medical spa market over the anticipation timeframe.
North America is projected to hold the largest share of the global medical spa market over the anticipation timeframe. Medical spas have gained popularity as a low-cost alternative to medical treatments for conditions such as stress, minor skin diseases, and obesity. It is at the forefront of technological advancements in the medical spa industry, providing cutting-edge procedures and treatments to both domestic and foreign clients. The growing popularity of non-invasive cosmetic procedures, skincare, and overall health has increased demand for medical spa services in North America.
Asia Pacific is expected to grow at the fastest CAGR growth of the global medical spa market during the anticipation timeframe. Medical spa services are in popular due to a desire for a young appearance and a better awareness of cosmetic treatments, both of which have been influenced by social media and globalisation. Many Asian-Pacific countries, particularly South Korea, Thailand, and India, have emerged into prominent medical tourism destinations, attracting travellers seeking sophisticated but somewhat expensive medical spa services.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global medical spa market are Aesthetics Medispa, Bijoux Medi-Spa, BIOVITAL MEDSPA, Brenners Park-Hotel & Spa, Canyon Ranch, Chic la Vie Med Spa, Chiva Som, Cocoona, Cynosure, Lanserhof, Lily's Medi Spa, Serenity Medspa, Sha Wellness Clinic, The Drx Medispa, Westchase Medsap, LLC, and others.
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Recent Developments
- On May 2024, SHA Wellness Clinic has partnered with IMKAN to launch SHA Residences Emirates in Abu Dhabi. SHA Wellness Clinic is an exclusive health centre in Spain that pioneered integrated wellness by combining the best of Eastern and Western therapies.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global medical spa market based on the below-mentioned segments:
Global Medical Spa Market, By Service
- Facial Treatment
- Body Shaping & Contouring
- Hair Removal
- Scar Revision
- Tattoo Removal
- Other Services
Global Medical Spa Market, By Gender
- Male
- Female
Global Medical Spa Market, By Age Group
- Adolescent
- Adult
- Geriatric
Global Medical Spa Market, By Service Provider
- Single Ownership
- Group Ownership
- Free-standing
- Medical Practice Associated Spas
Global Medical Spa Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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