Medical Spa Market Size, Share, Trends 2030

Medical Spa Market

Medical Spa Market By End-User (Men and Women), By Service Provider (Free-Standing, Single Ownership, Medical Practice Associated Spas, and Group Ownership), By Services (Body Shaping, Facial Treatment, Tattoo Removal, Hair Removal, Scar Revision, and Contouring), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Healthcare Report Format : PDF Pages: 220 Report Code: ZMR-7158 Published Date: Apr-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 16.51 Billion USD 49.1 Billion 14.61% 2022

 

Industry Prospective:

The global medical spa market size was worth around USD 16.51 Billion in 2022 and is predicted to grow to around USD 49.1 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 14.61% between 2023 and 2030. The report analyzes the global medical spa market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the medical spa market.

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Medical Spa Market: Overview

A medical spa is also sometimes referred to as a medi-spa or med spa. It is a combination of medical procedures with traditional spa services and can only take place under the guidance or supervision of a certified healthcare professional. The medical spa industry includes all service and product providers that facilitate the process which generally includes non-invasive and minimally invasive cosmetic treatments such as chemical peels, laser hair removal, Botox injections, and dermal fillers, among others. In recent years, the industry has managed to grow at a tremendous rate as people are willing to spend more on personal care along with several other factors.

It is a highly competitive industry since there is a presence of several small independent units along with larger players that are constantly working toward product and service improvement. During the forecast period, the CAGR is expected to be high but market players may have to deal with certain challenges and growth restrictions.

Key Insights: 

  • As per the analysis shared by our research analyst, the global medical spa market is estimated to grow annually at a CAGR of around 14.61% over the forecast period (2023-2030)
  • In terms of revenue, the global medical spa market size was valued at around USD 16.51 billion in 2022 and is projected to reach USD 49.1 billion, by 2030.
  • The medical spa market is projected to grow at a significant rate due to the increasing demand for minimally invasive cosmetic treatments
  • Based on end-user segmentation, women were predicted to show maximum market share in the year 2022
  • Based on services segmentation, facial treatments were the leading services in 2022
  • On the basis of region, North America was the leading revenue generator in 2022

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Medical Spa Market: Growth Drivers

Increasing demand for minimally invasive cosmetic treatments to propel market growth

The global medical spa market is projected to witness a high growth rate owing to the increasing demand for minimally or non-invasive cosmetic treatments. Such surgical procedures are known to improve the overall physical appearance of the person undergoing the treatment. With the growth in the number of people seeking out several processes that can improve or change physical aesthetics without having to undergo extensive surgical operations, the demand for medical spas has reached new heights in the last few years. One of the major factors for the rise in such operations is the changing cultural trend or attributes toward physical beauty. The definition of the word has undergone a change in terms of diversity and inclusivity.

Medical Spa Market: Restraints

High cost to restrict medical spa market expansion

Most medical spa services are high in terms of initial expense and lifetime maintenance. This may not be true for all services such as laser hair removal, which in most cases requires less maintenance once the initial process is completed. However, the cost of undergoing the treatment is still higher than traditional spa services. Botox injections, on the contrary, are not only high in expense, to begin with, but they require exhaustive post-service maintenance and regular refilling.

Medical Spa Market: Opportunities

Increasing demand for personalized treatment to provide growth opportunities

One of the key areas where the global medical spa industry players can expect more growth opportunities is by tapping into the segment of people requesting more personalized treatments. The modern population, with access to the internet and the availability of more options in terms of service providers, is now focusing on individualized healthcare and wellness. This translates to more demand for customized medical spa treatments. It is an excellent opportunity for medical spa service providers by catering to the unique preferences and needs of their target consumers.

Medical Spa Market: Challenges

Regulatory compliance to challenge market growth

The global medical spa market size remains restricted owing to the several regulatory challenges that the service providers have to follow through while providing services or entering a new market. The concept of the medical spa has generated more interest and acceptance in the last few years and hence the market is subject to complex regulations and standards that may vary by region and state. This complicates the compliance process and can lead to severe legal and financial risks.

Medical Spa Market: Segmentation

The global medical spa market is segmented based on end-user, service providers, services, and others.

Based on end-user, the global market segments are men and women. Although both gender types undergo medical spa treatment depending on their needs, in 2022, the industry registered the highest growth in the women segment since historically women have been primary consumers of such services. As per the American Society of Plastic Surgeons, men accounted for about 10% of all cosmetic procedures, in 2020. However, with the growing acceptance of men's grooming and culturally changing trends on basic hygiene for women and men, the segment consisting of the male population is likely to grow at a rapid rate. The most common processes that men undertake include hair removal, non-surgical fat reduction, and body contouring procedures.

Based on service providers, the medical spa industry segments are free-standing, single ownership, medical practice associated spas, and group ownership.

Based on services, the global market segments are body shaping, facial treatment, tattoo removal, hair removal, scar revision, and contouring. The highest CAGR observed during 2022 was in the facial treatment segment. It includes procedures such as microdermabrasion, chemical peel, and facial fillers. They are known to reduce wrinkles, improve skin texture, and restore a more youthful appearance. Another significant contributor in the medical spa industry is the hair removal segment since it is undertaken mostly by both men and women. Most people seek out permanent hair reduction. Scar revision and tattoo removal are also popular procedures. The effects of Botox are known to last for 3 to 4 months.

Recent Developments:

  • In October 2022, Sensus Healthcare, Inc, which is a company that specializes in producing medical devices for minimally-invasive, highly effective, non-invasive, and cost-effective treatments, especially for non-oncological and oncological conditions, announced the launch of Silk™. It is a portable hair machine that promotes laser hair removal. Silk is the one product in this segment that is powered using blended wavelengths for all skin phototypes
  • In January 2020, Lumenis Ltd., a global leader producing energy-based medical devices, announced the launch of LightSheer Quattro which is an addition to the already existing and popular line of the LightSheer family. The laser hair removal system can be used for all skin types and has no downtime. It delivers excellent results using 805 nm or 1060 nm wavelengths
  • In December 2022, Gufic Biosciences announced the launch of botulinum toxin type A (Botox) injection in India. The product is made domestically and will be launched under the name of Zarbot

Medical Spa Market: Report Scope

Report Attributes Report Details
Report Name Medical Spa Market Research Report
Market Size in 2022 USD 16.51 Billion
Market Forecast in 2030 USD 49.1 Billion
Growth Rate CAGR of 14.61%
Number of Pages 220
Key Companies Covered Revance Therapeutics, Allergan, Syneron Medical Ltd., Cutera, Aesthetics Biomedical, SkinMedica, Cynosure, Merz Pharma, Venus Concept, DermaConcepts, Lumenis Ltd., Zeltiq Aesthetics, Alma Lasers, Palomar Medical Technologies, Sciton, Inc., Sientra, Inc., Solta Medical, SkinPen, BTL Aesthetics, SkinPen, Thermi, Neocutis, Galderma, Obagi Medical Products, and SkinCeuticals.
Segments Covered By End-User, By Service Provider, By Services, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Medical Spa Market: Regional Analysis

North America to lead with the highest growth

The global medical spa market is expected to witness the highest growth in North America with the US leading with the largest regional market share. One of the key reasons for higher growth in the US is mainly due to the presence of world-renowned services present in certain states of the country. People from across the globe travel to the US for medical spa services due to the superior quality of the products and services. The nation is home to one of the most well-established medical spa markets.

Global Medical Spa Market SizeRequest Free Sample

In addition to this, the increasing influence of the social medical culture leading to the growing influence on people to undergo surgical processes for improving physical aesthetics could lead to higher CAGR in the coming years. As per reports by the American Society of Plastic Surgeons, more than 1.82 million cosmetic surgical procedures were performed in the United States in the year 2020 alone.

Medical Spa Market: Competitive Analysis

The global medical spa market is led by players like:

  • Revance Therapeutics
  • Allergan
  • Syneron Medical Ltd.
  • Cutera
  • Aesthetics Biomedical
  • SkinMedica
  • Cynosure
  • Merz Pharma
  • Venus Concept
  • DermaConcepts
  • Lumenis Ltd.
  • Zeltiq Aesthetics
  • Alma Lasers
  • Palomar Medical Technologies
  • Sciton Inc.
  • Sientra Inc.
  • Solta Medical
  • SkinPen
  • BTL Aesthetics
  • SkinPen
  • Thermi
  • Neocutis
  • Galderma
  • Obagi Medical Products
  • SkinCeuticals.

The global medical spa market is segmented as follows:

By End-User

  • Men
  • Women

By Service Provider

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

By Services

  • Body Shaping
  • Facial Treatment
  • Tattoo Removal
  • Hair Removal
  • Scar Revision
  • Contouring

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

A medical spa is also sometimes referred to as a medi-spa or med spa. It is a combination of medical procedures with traditional spa services and can only take place under the guidance or supervision of a certified healthcare professional.

The global medical spa market is projected to witness a high growth rate owing to the increasing demand for minimally or non-invasive cosmetic treatments.

According to study, the global medical spa market size was worth around 16.51 billion in 2022 and is predicted to grow to around USD 49.1 billion by 2030.

The CAGR value of the medical spa market is expected to be around 14.61% during 2023-2030.

The global medical spa market is expected to witness the highest growth in North America with the US leading with the largest regional market share.

The global medical spa market is led by players like Revance Therapeutics, Allergan, Syneron Medical Ltd., Cutera, Aesthetics Biomedical, SkinMedica, Cynosure, Merz Pharma, Venus Concept, DermaConcepts, Lumenis Ltd., Zeltiq Aesthetics, Alma Lasers, Palomar Medical Technologies, Sciton, Inc., Sientra, Inc., Solta Medical, SkinPen, BTL Aesthetics, SkinPen, Thermi, Neocutis, Galderma, Obagi Medical Products, and SkinCeuticals.

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