Medical Spa Market Size, Share, Growth Analysis, By Service(Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision), By Age Group(Adolescent, Adult, Geriatric), By Gender(Male and Female), By Service Provider(Single Ownership, Group Ownership, Free-standing, Medical Practice Associated Spas), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35A2526 | Region: Global | Published Date: April, 2024
Pages: 219 |Tables: 119 |Figures: 77

Medical Spa Market Insights

Global Medical Spa Market size was valued at around USD 16.39 billion in 2022 and is expected to rise from USD 18.84 billion in 2023 to reach a value of USD 57.52 Billion by 2031, at a CAGR of 14.97% over the forecast period (2024–2031).

The increasing consumer interest in self-care and anti-aging products, as well as the swift growth of the wellness tourism sector, are some of the factors driving the global medical spa market. The American Med Spa Association (AMSA) claims that there is a significant demand for non-invasive skin tightening, chemical peels, body contouring, and tattoo removal.Additionally, the popularity of wellness-themed vacations is rapidly increasing owing to hotel wellness packages.

The continually changing demands of the client have shaped the medical spa. As users of social media become more savvy, anti-aging solutions are becoming more and more well-liked. The increased demand for anti-aging skincare products remains the main driver of this industry. With 6.1 million operations, including 684,000 surgical procedures and 5.4 million minimally invasive procedures, people between the ages of 30 and 39 accounted for 45% of all cosmetic surgeries carried out in the US in 2022.

The rise in consumer discretionary income, especially in emerging economies, and the expansion of the tourism sector are other factors driving demand for these services. Important companies offer customized beauty services to justify high expenses and benefit from their position. A recent innovation in the field is the integration of wellness architecture and biophilic design into the entire structural design of the building.

The rapid growth of the wellness tourism market has created exciting prospects for new entrants that provide a distinctive fusion of industrial sectors, including hospitality, travel, beauty treatments, and fitness. The market is also anticipated to grow as more women in their late 20s use dermal fillers and as demand for laser hair removal and cosmetic procedures rises.

US Medical Spa Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024–2031

Global Market Size

USD 16.39 billion

Largest Segment

Female

Fastest Growth

Female

Growth Rate

14.97% CAGR

Global Medical Spa Market ($ Bn)
Country Share for North America Region (%)

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Medical Spa Market Segmental Analysis

The global medical spa Market is segmented based on service, age group, gender, service provider, and region. In terms of service, the market is grouped into facial treatment, body shaping & contouring, hair removal, scar revision, tattoo removal, and other services. With respect to age group, the market is classified into adolescent, adult, geriatric. As per classification on gender the market is categorized into male and female. Based on service providers the market is grouped into single ownership, group ownership, free-standing, medical practice associated spas. Based on region the global medical spa Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Global Medical Spa Market Size By Gender

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Medical Spa Market Regional Insights

North America held the majority of the market share with an estimated 40% in 2022 due to higher spending on wellness tourism (both domestic and international traffic). The easy availability of a wide range of services and supplies for various aesthetic procedures in the US and Canada is predicted to hasten market expansion even more. However, a fall in cosmetic treatments followed the unexpected start of the COVID-19 pandemic in 2020, which might prevent the industry from growing in the area.

Asia Pacific is anticipated to emerge with the highest CAGR during the forecast period due to increased wellness tourism spending and the industry's expanding popularity and expansion. Increasing desire for travel experiences, in addition to rising ticket and lodging costs, will further fuel the regional market. The presence of numerous big and little companies as well as a growing number of global players are expected to aid in the growth of the market in the Asia Pacific region.

Global Medical Spa Market Size By Region
  • Largest
  • Fastest

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Medical Spa Market Dynamics

Medical Spa Market Drivers

Increasing Demand for Non-invasive Cosmetic Procedures

  • With advancements in technology and a growing emphasis on natural-looking results, there has been a surge in demand for non-invasive cosmetic procedures such as injectables, laser hair removal, and microdermabrasion. This trend is expected to continue driving the growth of the medical spa market.

Medical Spa Market Restraints

Lack of Regulation

  • The medical spa market is largely unregulated, which can create safety concerns for consumers. As a result, some consumers may be hesitant to try medical spa treatments, which may limit the market's growth potential.

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Medical Spa Market Competitive Landscape

The medical spa market is a highly competitive industry with many established players and emerging companies vying for market share. These companies offer a range of medical spa treatments and services, including injectables, laser and light-based treatments, body contouring, skin rejuvenation, and hair removal. The competitive landscape is likely to continue evolving as new companies enter the market and existing players adapt to changing consumer preferences and technological advancements.

Medical Spa Market Top Player’s Company Profiles

  • Allergan
  • Galderma
  • Merz Pharma
  • Syneron Candela
  • Cutera Inc.
  • Cynosure Inc.
  • Lumenis
  • Valeant Pharmaceuticals International Inc.
  • Solta Medical
  • Alma Lasers
  • Sciton Inc.
  • Deka Laser Technologies
  • Thermi
  • Venus Concept
  • InMode
  • Suneva Medical
  • Zeltiq Aesthetics Inc.
  • Myoscience
  • Aesthetics Biomedical
  • Viora

Medical Spa Market Recent Developments

  • In April 2024, JEUNESSE announced the launch of a new luxury state-of-the-art HydraFacial treatment at their Jeunesse Medical Spa locations in Holmdel and Old Bridge, United States. 
  • In January 2024, Empower Aesthetics, a national medical aesthetics platform, announced that it has partnered with DermaTouch RN, one of the nation’s leading medical aesthetic practices with locations in Houston and San Antonio, Texas, and AW Skin Co., a highly-regarded medical spa and wellness center with three locations in Cool Springs, Franklin, and Murfreesboro, Tennessee. 
  • In November 2023, MD Esthetics announced the acquisition of Medical Aesthetics of New England (MANE), an established medical spa comprised of two locations serving the Acton and Fitchburg, MA areas.

Medical Spa Key Market Trends

  • Growing demand for non-invasive cosmetic procedures: There has been a significant increase in demand for non-invasive cosmetic procedures in recent years, driven by technological advancements and a desire for natural-looking results. Treatments such as injectables, laser hair removal, and microdermabrasion are particularly popular among consumers.
  • Rising popularity of wellness and self-care: The medical spa market is benefitting from the growing trend of self-care and wellness among consumers. Medical spas offer a range of treatments and services that promote physical and mental well-being, making them an attractive option for consumers seeking relaxation and rejuvenation.
  • Increasing adoption of technology: Technology is playing an increasingly important role in the medical spa market, with new devices and platforms being developed to enhance the customer experience and streamline operations. For example, many medical spas now offer online booking and consultation services, making it easier for customers to schedule appointments and access information.
  • Growing demand for personalized treatments: Consumers are increasingly seeking personalized treatments that cater to their specific needs and preferences. This trend is driving the development of new treatment modalities and customized treatment plans that take into account factors such as skin type, age, and lifestyle.

Medical Spa Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, we found that the Medical Spa market is projected to witness significant demand during the coming years owing to the growing consumer awareness about self-care and anti-aging services, as well as the quick development of the wellness tourism industry. Additionally, there is a high demand for minimally invasive procedures including chemical peels and non-invasive skin tightening, as well as for body sculpting and tattoo removal, according to the American Med Spa Association (AMSA). Additionally, the popularity of wellness-themed vacations is rapidly increasing thanks to hotel wellness packages.

Report Metric Details
Market size value in 2022 USD 16.39 billion
Market size value in 2031 USD 57.52 Billion
Growth Rate 14.97%
Base year 2023
Forecast period 2024–2031
Forecast Unit (Value) USD Billion
Segments covered
  • Service
    • Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal, Other Services
  • Age Group
    • Adolescent, Adult, Geriatric
  • Gender
    • Male and Female
  • Service Provider
    • Single Ownership, Group Ownership, Free-standing, Medical Practice Associated Spas
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Allergan
  • Galderma
  • Merz Pharma
  • Syneron Candela
  • Cutera Inc.
  • Cynosure Inc.
  • Lumenis
  • Valeant Pharmaceuticals International Inc.
  • Solta Medical
  • Alma Lasers
  • Sciton Inc.
  • Deka Laser Technologies
  • Thermi
  • Venus Concept
  • InMode
  • Suneva Medical
  • Zeltiq Aesthetics Inc.
  • Myoscience
  • Aesthetics Biomedical
  • Viora
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Medical Spa Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Medical Spa Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Medical Spa Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Spa Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Spa Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Medical Spa Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Medical Spa Market size was valued at around USD 16.39 billion in 2022 and is expected to rise from USD 18.84 billion in 2023 to reach a value of USD 57.52 Billion by 2031, at a CAGR of 14.97% over the forecast period (2024–2031).

The medical spa market is a highly competitive industry with many established players and emerging companies vying for market share. These companies offer a range of medical spa treatments and services, including injectables, laser and light-based treatments, body contouring, skin rejuvenation, and hair removal. The competitive landscape is likely to continue evolving as new companies enter the market and existing players adapt to changing consumer preferences and technological advancements. 'Allergan', 'Galderma', 'Merz Pharma', 'Syneron Candela', 'Cutera Inc.', 'Cynosure Inc.', 'Lumenis', 'Valeant Pharmaceuticals International Inc.', 'Solta Medical', 'Alma Lasers', 'Sciton Inc.', 'Deka Laser Technologies', 'Thermi', 'Venus Concept', 'InMode', 'Suneva Medical', 'Zeltiq Aesthetics Inc.', 'Myoscience', 'Aesthetics Biomedical', 'Viora'

With advancements in technology and a growing emphasis on natural-looking results, there has been a surge in demand for non-invasive cosmetic procedures such as injectables, laser hair removal, and microdermabrasion. This trend is expected to continue driving the growth of the medical spa market.

Growing demand for non-invasive cosmetic procedures: There has been a significant increase in demand for non-invasive cosmetic procedures in recent years, driven by technological advancements and a desire for natural-looking results. Treatments such as injectables, laser hair removal, and microdermabrasion are particularly popular among consumers.

North America held the majority of the market share with an estimated 40% in 2022 due to higher spending on wellness tourism (both domestic and international traffic). The easy availability of a wide range of services and supplies for various aesthetic procedures in the US and Canada is predicted to hasten market expansion even more. However, a fall in cosmetic treatments followed the unexpected start of the COVID-19 pandemic in 2020, which might prevent the industry from growing in the area.

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