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Medical Spa Market

Growing Medical Tourism and Healthcare Reforms will Propel the Overall Medical Spa Market

Medical Spa Market Segmented By Skin Rejuvenation, Facial Injectable, Esthetician Services, Body Shaping & Contouring, Hair Removal, Tattoo Removal Service in Adolescent, Adult, Geriatric Age

Medical Spa Market Outlook (2023-2033)

Worldwide revenue from the medical spa market stands at US$ 31.8 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 15.1% to reach a valuation of US$ 150.3 Bn by the end of 2033.

Medical Spa Market Size (2022)

US$ 31.8 Bn

Projected Market Value (2033)

US$ 150.3 Bn

Global Market Growth Rate (2023-2033)

15.1%

Market Share of Top 5 Countries

59.7%

As assessed by Persistence Market Research, facial injectable services are expected to hold a market value of US$ 67.3 Bn by 2033. Overall, medical spa market sales account for approximately 59.2% revenue share in the global non-invasive aesthetic treatment market, which was valued at around US$ 53.8 Bn in 2022.

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Sales Analysis of Medical Spa Market from 2016 to 2022 Vs Market Outlook for 2023 to 2033

The global market for medical spa recorded a historic CAGR of 13.1% in the last 6 years from 2016 to 2022.

One of the key drivers propelling the medical spa market is the development of less invasive procedures, which is being pushed by an ageing population.

The United Nations projects that by 2050 there will be around 2 billion people over the age of 60, assuming a 3% annual growth rate. 2019 (UNDESA).

It has made it easier to treat the specific anatomy of facial ageing, which causes the face to appear older. This tendency would stimulate more minimally invasive procedures, which would raise sales of cosmetic products and medical spa services.

According to the American Society for Aesthetic Plastic Surgery (ASAPS), adults between the ages of 35 and 50 underwent more than 5.3 million treatments in 2016, accounting for 39.3% of all procedures, with people between the ages of 51 and 64 coming in second with 30%.

Cosmetic surgery has advanced as a result of technology advancements, particularly in the use of endoscopes, lasers, and ultrasonic liposuction.

XTHEIA by Aestheia Imaging, BTL Vanquish ME, and Trusculpt ID are just a few of the popular products that are currently being used. BTL Aesthetics Emsculpt, hydrafacials, dermalinfusion, Scarlet RF, and Inmode Morpheus are some other examples.

Despite the fact that these devices have long been at the top of their aesthetic game, they remain at the top due to their wide applicability and demand.

Manufacturers are attempting to make this technology more user-friendly and efficient. It is simple to integrate into a clinic because it requires little to no manual intervention and is among the first technologies to explore autonomous treatment.

While continued development of this technology will only result in more effective standalone fat reduction devices, it is currently conceivable to integrate it with body sculpting technology to improve treatment outcomes for patients.

As demand for such technologies grows, the market for medical spas is expected to expand.

According to the International Organization for Standardization, about a quarter million patients crossed international borders for medical care in 2019. ISO 22525, which has applications ranging from dental check-ups to cosmetic surgery to life-saving procedures, has a lot to offer the business.

Globalisation, which includes economic, social, cultural, and technological aspects, is driving medical tourism. Stricter eligibility constraints, waiting lists, and evolving healthcare preferences can all have an impact on patient decision-making in many domestic health-care systems.

Consumerist and patient preferences are increasing in countries where public services have historically been funded.

People are seeking treatments and surgeries that are unavailable in their home countries due to the rarity of their condition and the specialised knowledge necessary to treat it, the expense, a lack of health insurance coverage, or lengthy waiting lists.

The rapidly developing wellness tourism business offers enormous growth opportunities for new competitors that provide a novel fusion of the hospitality, travel, spa, and fitness industries.

As a result, the aforementioned factors are expected to enhance demand within the market in the near future.

The global market is thus likely to show high growth over the coming years at a CAGR of 15.1% and reach a global market size of US$ 150.3 Bn by 2033.

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How Can Medical Spa Market Grow?

Targeted Marketing, Expanding Consumer Base, and Regulatory Impositions

The fast proliferation of cosmetic treatment marketing and advertising raises patient safety concerns as well as significant ethical dilemmas.

Cosmetic doctors are increasingly using blogs and social media sites to promote their practises. Despite the fact that social media and the Internet might help consumers learn more about the benefits and drawbacks of specific procedures, providers compete for clients through marketing and promotion.

Print advertising networking, television and radio advertisements, "sponsored content" (paid editorials that typically appear in magazines), and other types of advertising are employed alongside digital social media advertising and marketing, which is becoming increasingly prominent.

In this profession, celebrity endorsements, whether direct or indirect, are extremely crucial.

The med spa sector is rapidly expanding, and will continue to do so in the future. With this in mind, each med spa should concentrate on developing its brand and raising awareness of the distinctive services, products, and medical aesthetic procedures it offers.

Moreover, men are paying greater attention to physical appearance, which explains the increase in sales for the medical spa industry.

A variety of factors, including a desire to work in a successful and young environment, increased social acceptance of cosmetic procedures for men, and a better understanding of their safety and efficacy, can be attributed to the increase in the number of male patients undergoing cosmetic treatments.

Furthermore, the growing popularity of aesthetic medicine and cosmetic procedures for the enhancement of attractiveness, as well as the rise of wellness trends, will assist to boost the market. Regulations enforced by various regulatory organisations, such as the US Food and Drug Administration and European Commission certification, may have an impact on the expansion of the medical spa industry.

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Can the Medical Spa Market Growth Be Affected in Any Way?

Procedure Cost, Dearth of Skilled Professionals, and Repetitive Treatments

The global growth of the medical spa market is hampered by surgeons' lack of capabilities. Furthermore, there are no approved training courses that teach medical personnel how to properly employ surgical instruments.

Because there are not enough surgeons using methodological approaches, this problem is especially frequent in poor and emerging nations. Despite the fact that there are numerous innovative techniques available, such as facelifts and laser treatments, only a limited number of qualified surgeons can reliably execute them.

The expense of aesthetic procedures and the number of sessions required to obtain the desired effect are two barriers to the expansion of the medical spa market. The cost of the physician or surgeon, for example, is around 40 to 50% of the cost of the facial injectable. Collagen, HA, PLLA, and CaHA are biodegradable dermal fillers that last three to 24 months. Because they are naturally present in the body, the majority of them breakdown gradually.

As a result, multiple sessions may be required to achieve the desired result, raising the overall cost of the procedure. It also encourages regular visits to the doctor or surgeon. As a result, the market for medical spas is likely to be hampered.

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Country-wise Insights

Why is the U.S. Medical Spa Market Booming?

“Medical Tourism and Rising Access to Wellness Products and Services”

The U.S. accounted for around 93.6% market share in the North America market in 2022, and a similar trend is expected over the forecast period. The rapid growth of the medical tourism industry, as well as increased consumer awareness of self-care and anti-aging therapies, are both driving the expansion of the medical spa industry in the United States.

The rising demand for minimally invasive procedures such as chemical peels and non-surgical skin tightening, body sculpting, and tattoo removal is also fuelling the industry's rapid growth in the United States. Furthermore, hotel wellness packages are expanding the popularity of wellness-themed vacations. The ease of access to a variety of services and products for various aesthetic procedures in the United States is expected to expand the market for a medical spa even further.

Will Germany Be a Lucrative Market for Medical Spa Service Providers?

“Healthcare Reforms and Geriatric Population”

Germany held around 19.1% market share of the Europe market in 2022. Rising medical costs have increased the strain on Germany's healthcare system during the last few decades. A number of reforms have been implemented in order to ensure that the health-care system is funded fairly and sustainably.

These innovations have also had a considerable impact on the market for health and wellness travel, presenting both new issues and opportunities for the sector. The large senior market is given special attention, since health and wellness are becoming major elements influencing travel selections. This is a favourable development, particularly for Germany's traditional spas and health resorts.

How is China Emerging as a Prominent Market for Medical Spa?

“Rising Investments in Aesthetic Appearance in Chinese Population”

China held the largest market share of about 45.0% of the East Asia market in 2022. The majority of wellness expenditures in the Asia-Pacific region are made in China, and this business will continue to grow in the coming years as more affluent Chinese individuals decide they want to take better care of their health and are willing to visit spas for expensive treatments.

Furthermore, the line between spa services and retail products is beginning to blur. All product suppliers require a combination of online and offline sales, and the medical spa industry requires technology developments and industrial modifications that are comparable to China's present requirements.

Category-wise Insights

Which Service is Driving Growth of the Global Market?

“Regulatory Approved Dermal Filler Services”

The facial injectable segment held around 45.5% share of the global market in 2022. The range of next-generation goods and treatments is constantly expanding, and they are rapidly reaching demographic segments that place a high value on aesthetics. The market is expanding as a result of additional indications and a broader selection of dermal fillers and biostimulators. Dermal fillers, often known as facial injectable, are FDA-approved medical device implants used to improve the smoothness and/or volume of the face.

Which Age Group Drives Demand the Most for Medical Spa Market?

“Rising Disposable Income”

Adult age group held the largest market share of around 53.6% in 2022. According to Statista, adult women under the age of 65 earned more than half of the income in the health and wellness spa business in the United States in 2020. With rising disposable income, and growing awareness on aesthetic appearance, this age group offers a larger share in the global market.

Which Service Provider Offers the Medical Spa Market a Profitable Outlook?

“Large Number of Independent Operations”

Single ownership spas held a larger share of about 46.8% with a market value of around US$ 14.9 Bn in 2022. Several medical spa settings operate under independent ownership and several medical tourism service providers offer a range of services. Countries like Germany offer such aesthetic treatments under independent operations, thus propelling the growth of the overall medical spa market.

Competitive Landscape

Through acquisitions and joint ventures, key firms increase their footprint in growing regions and broaden their service offerings on the global market.

To bring technological advancements to this service industry, market players also bolster their research and development capabilities.

For instance:

  • U.S. FDA approved SkinPen® Precision for the treatment of neck wrinkles in April 2021, according to an announcement made by Crown Laboratories, Inc., the US market leader in microneedling technology.
  • After a ceremony in Dubai, the World Spa Awards 2019 crowned Lanserhof Tegernsee the World's Best Medical Spa for the fifth consecutive year in October 2019.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies within the medical spa market, which are available in the full report.

Medical Spa Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2016-2022

Market Analysis

USD Billion for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Service
  • Age
  • Service Provider
  • Region

Key Companies Profiled

  • Dermani Medspa
  • Lanserhof Tegernsee
  • Chic La Vie
  • Crown Aesthetics
  • Allure MedSpa
  • Cienega Med Spa, Inc.
  • Clinique La Prairie
  • Willow Medspa

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Medical Spa Industry Research

By Service:

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

By Age:

  • Adolescent
  • Adult
  • Geriatric

By Service Provider:

  • Single Ownership Spa
  • Group Ownership Spa
  • Free-Standing Spa
  • Medical Practice associated Spa

By Region:

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

- Companies Covered in This Report -

  • Dermani Medspa
  • Lanserhof Tegernsee
  • Chic La Vie
  • Crown Aesthetics
  • Allure MedSpa
  • Cienega Med Spa, Inc.
  • Clinique La Prairie
  • Willow Medspa

- Frequently Asked Questions -

The global market is currently valued at around US$ 31.8 Bn in 2022.

Sales of medical spa are set to witness a high growth at a CAGR of 15.1% and be valued at around US$ 150.3 Bn by 2033.

Demand for medical spa market increased at 13.1% CAGR from 2016 to 2022.

The U.S., China, India, Japan, and Germany account for most demand for medical spa, currently holding around 59.7% market share.

The U.S. accounts for around 93.6% share of the North American market.

Dermani Medspa, Lanserhof Tegernsee, and Crown Aesthetics are the top three service providers of medical spa services.

China market held a share of about 45.0% in the East Asia market in 2022.

Germany held around 19.1% market share of the Europe market in 2022.

Brazil market is expected to grow at an 8.3% CAGR during the forecast period.

The medical spa market in India is set to expand at a 14.7% CAGR over the forecast period.

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