New York, NY, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The latest research report [115+] pages with 360-Degree visibility, titled "Medical Spa Market Share, Size, Trends, Industry Analysis Report, By Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal); By Age Group; By Service Provider; By Region; Segment Forecast, 2023-2032" published by Polaris Market Research in its research repository.
According to the research study, the global Medical Spa Market size was estimated at USD 16.31 billion in 2022 and is expected to reach USD 63.79 Billion by 2032. The global Medical Spa Market is expected to grow at a compound annual growth rate (CAGR) of 14.6% from 2023 to 2032.
What is Medical Spa? How Big is Medical Spa Market Size & Share?
- Overview
Medical spas, also called medi-spas or med spas, are a unique combination of some medical procedures that provide nonsurgical aesthetic medical services. Medical spas are usually conducted in a relaxing and calming environment with the procedures and expertise. They are usually found in a doctor’s office. Some of the offerings include anti-wrinkle and fine line reduction treatments, injectables like Juvederm and Botox, fillers, the latest laser procedures, and acne therapy.
Medical spa procedures are performed for various purposes, such as treating breakouts, lightening post-inflammatory hyperpigmentation, reducing scarring, and enhancing the overall appearance of the skin. The rising use of cosmetic treatments and pharmaceuticals for aesthetic enhancement across developed countries is driving the medical spa market size. The increasing development of skincare technology is another prominent factor propelling the market growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis
- 115+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on the Request
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
Key Offerings of the Industry Report
- Assessment of all opportunities and risks in the market
- Conclusive study about the growth of the market for forthcoming years
- In-depth understanding of market-particular drivers, constraints
- It provides historical and forecasts revenue of the market segments and sub-segments with
- respect to main geographies and their countries
- Country-level analysis of the market with respect to the current size and future prospective
Some of the Top Market Players Are:
- Biovital Medspa
- Kurotel Longevity Medical Center
- Westchase Medsap
- Bijoux Medi Spa
- Serenity Medspa
- Vichy Celestins
- Sha Wellness
- Lily Medical and Spa
- Aesthetics Medispa
- Drx Aesthetics
- Mandarin Oriental
To know an additional revised list of top market players, request a sample report, 2023 - 2032: https://www.polarismarketresearch.com/industry-analysis/medical-spa-market/request-for-sample
Growth Driving Factors
- Increasing awareness for anti-aging services to flourish the market growth
Growing consumer awareness about self-care and anti-aging services and increased expansion of the wellness tourism sector are the key factors supporting the medical spa market demand. Rising skin-related illnesses and an increased need for better medical spa treatments are fueling market expansion. Then, a surge in demand for minimally invasive treatments, like non-surgical skin tightening and chemical peels, as well as body sculpting and tattoo removal, are expected to bolster the medical spa industry's growth. The market is also booming as customers become more social media savvy, which is increasing awareness of anti-aging products.
Moreover, increasing consumer awareness of self-care services is fostering the market for medical spas. Growing consumer disposable income, particularly in emerging nations, coupled with the rising growth of the tourism sector, is propelling medical spa market sales. Also, rising technological advancement is boosting industry development. This is because medical spa service providers are increasingly moving toward technologically advanced treatments to enhance the customer experience. These factors positively influence the industry's growth.
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Key Insights
- Based on service, facial treatment generated the maximum market share in 2023
- Based on age group, adults dominated the market in 2023
- Based on the service provider, single ownership recorded a significant industry share in 2023
- On the basis of region, North America was the major revenue generator in the market
Segmental Analysis
- Facial treatment segment is expected to witness the largest market share
Based on service, the facial treatment category held the highest revenue share in 2022 due to the rising demand for antiaging treatment options such as Botox and dermal fillers. Increasing consumer focus on facial enhancement, which has led to increasing the demand for face and neck treatments at med spas, is boosting segment growth of the medical spas market. For instance, according to 2021’s Elite Facial Plastic Surgery study, between 2000 and 2020, the number of annual Botox treatments surged by roughly 459%.
- Adult segment is anticipated to capture the greatest industry share
By age group, the adult category accounted for the highest medical spa market share in 2022, owing to growing interest in body contouring and anti-aging treatments in adults. Another factor supporting the segment growth is the fact that most of the med spa consumers are in their mid-30s and 50s. Increased desire for facial treatments among adolescents with the huge social media effect is further expected to boost segment growth. In addition, the requirement for dermal fillers among adults in the age of 35 to 50 range, along with their high purchasing power, is fueling the adult segment growth.
- The single ownership segment dominated the market in 2022
In terms of service providers, the single ownership segment recorded the market industry share in 2022. The key factors supporting this segment growth include increased incorporation of cutting-edge equipment across single-owned, small-sized, and single-location medical spa facilities. Due to the increasing burnout rates and lowering reimbursement rates, more doctors are moving towards becoming the service’s sole or joint holders, which is again supporting the segment growth in the market.
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Medical Spa Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 63.79 Billion |
| Market size value in 2023 | USD 18.65 Billion |
| Expected CAGR Growth | 14.6% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 - 2032 |
| Top Market Players | Biovital medspa , Chic La Vie, Kurotel-Longevity Medical Center and spa, Westchase Medsap , Bijoux Medi-Spa , Clinique La Prairie, Lanserhof Lans, Orchard Wellness Resort, Biovital Medspa, Allure Medspa, Serenity Medspa, Vichy Celestins Spa Hotel, Sha Wellness Clinic, Brenners Park-Hotel & Spa, Mezzatorre, Cocoona Centre Of Aesthetic Transformation, Lily Medical and Spa, Aesthetics Medispa, The Drx Aesthetics, Mandarin Oriental, Westchase, Lisse, Medspa, Chiva Som, and Mandarin Oriental |
| Segments Covered | By Service, By Age Group, By Service Provider, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- The medical spa market demand in North America is predicted to grow at a significant rate
On the basis of North America is likely to witness the highest revenue share due to a surge in expenditure on wellness tourism compared to other regions. The high availability of a variety of services for different cosmetic procedures in the U.S. and Canada is expected to augment the market growth. Also, the growing demand for minimally invasive procedures like chemical peels and non-invasive skin tightening, body sculpting, and tattoo removal is accelerating regional market growth.
Browse the Detail Report “Medical Spa Market Share, Size, Trends, Industry Analysis Report, By Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal); By Age Group; By Service Provider; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/medical-spa-market
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Recent Developments
- In November 2021, Botox skin rejuvenating procedure was launched by Chic La Vie for men aimed at starting a new revolution.
Key Questions Answered in The Report
- Who are the key companies in the market?
- What are the prime drivers, growth/decline factors, and challenges?
- How is the medical spa market expected to evolve in the forecasted period?
- What are the consumption patterns across various regions?
- Which are the key areas of applications and product types that may expect a huge demand during the forecast period?
- What are the top firms' tactics for gaining a share in mature markets?
Polaris Market Research has segmented the Medical Spa Market report based on service, age group, service provider, and region:
By Service Outlook
- Facial Treatment
- Body Shaping & Contouring
- Hair Removal
- Scar Revision
- Tattoo Removal
- Other Services
By Age Group Outlook
- Adolescent
- Adult
- Geriatric
By Service Provider Outlook
- Single Ownership
- Group Ownership
- Free-standing
- Medical Practice Associated Spas
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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