Medical Spa Market

Global Market Study on Medical Spas: Market to Expand Nearly 5X in Value Over Next Ten Years

  • April-2021
  • PMRREP32427
  • 239 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

About the Report

The global medical spa market is expected to expand at an impressive CAGR of more than 15% over the next ten years, and be valued at over US$ 116 Bn by 2031-end.

The main goal of a medical spa is to offer medical education and care in a setting that includes spa facilities as well as conventional, complementary, and/or alternative therapies and treatments. Prevalence of skin diseases is constantly on the rise, globally. This is creating a major health burden on most economies. Botox injections, anti-wrinkle and fine line reduction therapies, acne surgery, and fillers are the most up-to-date laser procedures that are conducted at medical spas.

As indicated by the World Health Organization (WHO), skin diseases are among the most widely recognized human wellbeing issues and influence very nearly 1,200 million individuals over the world at some time. The absolute most regular sorts of skin infections detailed all around are pyoderma, scabies, acne, dermatitis, and moles.

In its latest study, Persistence Market Research offers insights about key factors driving demand for medical spas across the globe. Market growth is attributed to many major medical spa actively participating in partnerships, collaborations, and mergers & acquisitions to expand their services.

The study points toward the adoption of medical spas as the choice for a person’s appearance to treat skin-related issues. This report also tracks global customer sentiment analysis of various medical spa service types such as skin rejuvenation, facial injectable, esthetician services, body shaping & contouring, hair removal, scar revision, and tattoo removal, in more than 20 high-growth markets.

Find Out More about the Report Coverage

Companies

  • Dermani Medspa
  • Lanserhof Tegernsee
  • ‎Chic La Vie
  • SHA Wellness Clinic
  • Crown Aesthetics
  • Willow Medspa
  • P Allure MedSpa
  • Cienega Med Spa, Inc.
  • Clinique La Prairie
  • Kurotel - Longevity Medical Center and Spa

What is the Future Demand Scenario for Medical Spas?

According to the International Society of Aesthetic Plastic Surgery, there is great demand for minimally invasive treatments such as non-surgical skin tightening and chemical peels, along with tattoo removal and body sculpting. The medical spa trend is becoming very prominent and a lucrative commercial business, as demand for beauty and self-enhancing treatments is rising across the world. According to International Society of Aesthetic Plastic Surgery, 2019, millennials and the middle-aged generation have the strongest spending power and are more likely to perceive medical spas as an opportunity for ‘digital detox’.

Such factors are expected to create lucrative opportunities for expansion of the medical spa industry size over the forecast period, which is projected to expand at a CAGR of more than 15% over 2021-2031.

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What is the Impact of Market Consolidation on This Space?

Given the consolidation in the market, key players are focusing on mergers and acquisitions to explore lucrative opportunities in the market. Leading service players are also focusing on improving their commercializing efforts following regulatory guidelines. These trends are being actively followed throughout North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

  • For instance, in September 2018, Bliss, a manufacturer of beauty and spa products, brought out medical spa services at their New York locations. Bliss collaborated with Idyllic Image, a supplier of aesthetic services removal and laser hair, to further integrate aesthetic services in the Manhattan area.

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A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

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What are the Expected Opportunities for Medical Spa Stakeholders?

Opportunities for medical spas will arise by increased marketing and branding to promote services. With this in mind, every med spa concentrates on promoting its brand and raising awareness of medical aesthetic procedures, treatments, and specialist products.

Another factor that will provide lucrative opportunity is increased preference and acceptance of male aesthetics. Men may make up a small percentage of cosmetic customers, but they are becoming an increasingly important part of the medical spa industry. Males are an underserved patient demographic that could help aesthetic practices expand.

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What are the Driving Factors for Medical Spa Manufacturers?

One of the main drivers of the medical spa industry is increasing number of minimally invasive procedures, which has been fueled by the ageing population. It has facilitated the creation of new approaches to address the unique anatomy of facial ageing that results in an aged appearance. This trend would encourage more minimally invasive procedures, resulting in increased cosmetic product sales and medical spa services.

Many fashionable innovations are used nowadays in the medical spa space, such as BTL Aesthetics Emsculpt and hydra facial or dermal infusion. Despite the fact that these devices have been at the pinnacle of aesthetics for many years, they top the list due to their broad applicability and extremely high-demand. Technological advancements have improved cosmetic surgery, especially endoscopy, lasers, and ultrasound liposuction.

  • For instance, in June 2020, Allergan Aesthetics, a subsidiary of AbbVie Inc. (U.S.), received FDA approval of JUVÉDERM® VOLUMA™ XC for the expansion of the chin region in adults over the age of 21.
  • In 2019, the FDA approved Jeuveau, which is related to Botox, however, accessible at a lower cost compared to Botox. The product is found to be good for reducing wrinkles.

Medical Spa Market

Country-wise Insights      

What Makes the U.S. the Largest Market for Medical Spas?

Demand for medical spas is rising in the U.S. due to increasing prevalence of skin diseases and high use of medical spas as a curative measure. The U.S. is majorly focused on branded medical spa service providers interested in launching novel products to maintain compliance with updated regulatory guidelines. Moreover, governmental support for ongoing clinical research has allowed the U.S. to dominate the global medical spa service landscape.

Presence of some prominent players such as Chic la Vie, Dermani Medspa, and other North American companies has created remarkable returns for the country.

Why is Demand for Medical Spas Flourishing in the Germany?

The German health system is a universal multi-layer health system where legal residents of Germany are entitled to have free access to healthcare facilities funded by social security contributions. Today, its doctors, specialists, and facilities make it one of the very best healthcare systems in the world. Rising awareness regarding palliative care, adoption of services, and adoption of medical spa treatment to treat skin diseases have increased opportunities in the medical spa market space.

Additionally, Germany has introduced a law permitting doctors and physicians to prescribe digital application channels with health benefits, which can be reimbursed by the country’s health insurance system. The market in Germany is expected to reach a valuation of US$ 4 Bn by the end of 2031.

Why is Innovation Key to Succeed in the U.K. Market?

The U.K. healthcare system is a universal and well-renowned system, largely funded by the government. It is one of the most successful healthcare systems in the world. It is not surprising that the U.K. has the second-highest level of spending in Europe. Furthermore, rising research efforts, increasing service providers, and presence of several major players create a huge opportunity for medical spa providers in the country.

Moreover, people are seeking surgeries that are inaccessible in their home countries due to the rarity of their condition and the expertise needed to treat it, expense, lack of health insurance coverage, or long waiting lists. Rapid growth of the wellness tourism market is generating potential growth prospects for novel entrants who deliver a unique convergence of business areas such as spas, fitness travel, and hospitality. The U.K. market is expected to reach a valuation of US$ 2 Bn by the end of 2031.

What Factors Make China a Lucrative Market for Medical Spas?

China is the second-largest healthcare market and is rapidly growing based on the two main factors - large-scale capital investments and speedy productivity growth. These two elements project an appealing destination for foreign investments as well large domestic savings.

Since the 1970s, the country has been transforming from being a low economic to a more market-oriented country. China is holding the second position in the global market due to adoption of high amounts of medical spa services and its large-scale manufacturing capacity. The market in China is expected to expand at a CAGR of 17% through 2031.

How Does India Play a Key Role in This Market Space?

India is a densely populated country where the population is mostly comprised of young adults. Rising impact of social media and shifting focus of people toward improving their appearance are ongoing trends. Medical spa demand is likely to grow as the trend of fitness to wellness is substantially becoming important among the Indian population. As such, they seek to have cosmetic surgeries in order to make their appearance much better than before.

According to the report, India generated the highest revenue share among countries in South Asia, and is set to lead the South Asian market over the coming years.

Category-wise Insights

Why is Demand for Facial Injectables Continuously Rising?

Based on service, facial injectables are leading the market and are expected to gain slightly less than half of the revenue share over the forecast period. Growing focus on physical appearance among consumers has led to increased demand for facial injectables in recent years. Besides, due to being less invasive than surgery, facial injectables target various facial irregularities including wrinkles and fine lines, decrease in volume and contour, and unwanted fat, which is anticipated to spur market growth further.

  • According to the American Society of Plastic Surgeons (ASPS), in the U.S., nearly 17.7 million minimally invasive and surgical cosmetic products were performed in 2018, out of which, nearly 15.9 million products were minimally invasive.

Competitive Landscape

The medical spa market is greatly consolidated in nature, with the presence of leading players operating in this space. Some of the strategies undertaken by companies are product and service development using novel technology, mergers and acquisitions, outlet expansion, and business investments.

Increasing services and distribution channel network in developing economies and expansion in the value chain of service providers have allowed the market to integrate forward. Moreover, to gain a significant market share, major players provide training programs with quality education to the medical community, and have expanded their training offerings to appeal to a broader audience.

  • For instance, Dermani MEDSPA® has a huge postgraduate training program that trains experts in laser technology and aesthetic services. Its postgraduate program trains nurse practitioners, physician assistants, estheticians, medical doctors, nurses, and master cosmetologists all over Georgia. This methodology was adapted to provide franchisees with viable recurring returns to the business.
  • In 2019, one of the key players, Allergan, launched a TV ad campaign for its brand - Botox Cosmetic, for millennials.

Some of the leading companies operating in the market are:

  • Lanserhof Tegernsee
  • Chic La Vie
  • SHA Wellness Clinic
  • Dermani Medspa
  • Crown Aesthetics
  • Willow Medspa
  • Allure MedSpa
  • Cienega Med Spa, Inc.
  • Clinique La Prairie
  • Kurotel - Longevity Medical Center and Spa

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Billion for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • the Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America  Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe  India
  • Thailand
  • Malaysia
  • Indonesia
  • Rest of South Asia China
  • Japan
  • South Korea  Australia
  • New Zealand
  •  GCC Countries
  • South Africa
  • Turkey
  • the Rest of MEA

Key Segments Covered

  • Service
  • Age
  • Service Provider
  • Region

Key Companies Profiled

  • Lanserhof Tegernsee
  • ‎Chic La Vie
  • SHA Wellness Clinic
  • Dermani Medspa
  • Crown Aesthetics
  • Willow Medspa
  • P Allure MedSpa
  • Cienega Med Spa, Inc.
  • Clinique La Prairie
  • Kurotel - Longevity Medical Center and Spa

Report Coverage

  • Market Forecasts
  • DROT Analysis
  • Market Dynamics and Challenges
  • Key Inclusion
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation by Category

Service

  • Skin Rejuvenation
  • Facial Injectable
  • Esthetician Services
  • Body Shaping & Contouring
  • Hair Removal
  • Tattoo Removal
  • Others

Age                               

  • Adolescent
  • Adult
  • Geriatric

Service Provider

  • Single Ownership Medical Spas
  • Group Ownership Medical Spas
  • Free-Standing Medical Spas
  • Medical Practice Associated Spas

Region

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

Key Questions Answered in Report

Q1. What are the emerging trends that expect to offer lucrative opportunities for medical spa service providers?

Continuous advancements in cosmetic surgery have a huge role in supporting market growth. Moreover, expansion of the medical tourism industry helps in generating potential growth opportunities for medical spa service providers.

Q2. Which service holds a significant share in the market?

Facial injectables hold the highest market share. These are used for short-term or long-term treatments - injected into particular parts of the face with a few tiny injections. This advanced technology of minimally invasive procedure with a wide range of treatments such as wrinkle reduction and lip augmentation is likely to spur market growth.

Q3. Which age segment is expected to dominate the market?

Adults account for the highest share in the market. Rising impact of social media to improve appearance makes the adult population the most dominant in this space. Revenue from this segment is expected to reach 8 Bn in 2031.

Q4. Who are the leading service providers in the medical spa landscape?

Some of the prominent companies offering medical spas include Lanserhof Tegernsee, Chic La VI, SHA Wellness Clinic, Dermani Medspa, Crown Aesthetics, Willow Medspa, P Allure MedSpa, and Cienega Med Spa, Inc.

Q5. What are factors restraining market expansion?

Challenges arise with lack of skilled professionals for procedures. Only few of the cosmetologists are skilled in operating these minimally invasive techniques. Besides, high cost associated with these procedures is expected to hinder overall market growth.

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Is this research conducted by Persistence Market Research?

Yes, the research has been conducted by expert analysts of Persistence Market Research, through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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What are the sources of secondary research?

Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

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