Dublin, March 12, 2024 (GLOBE NEWSWIRE) — The “Global Medical Spa Market Size, Share & Trends Analysis Report by Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal), Age Group, Gender, Service Provider, Region, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The global medical spa market is anticipated to reach USD 49.4 billion by 2030, expanding at a CAGR of 15.13% from 2024 to 2030. Increasing demand for non-invasive aesthetic treatment is one of the key factors driving the market growth. Moreover, rise in demand for dermal fillers and the high influence of social media among millennials are propelling the demand for medical spas. Technological advancements, such as laser systems, have resulted in increased costs of medical spa procedures. However, increasing disposable income levels are expected to drive the demand for novel procedures.
The demand for aesthetic services is increasing with rising disposable income and growing awareness about cosmetic surgeries. Availability of the best anti-aging treatments, relaxing atmosphere, quality services provided by certified professionals, and innovative and cutting-edge technology are leading to an increase in preference for medical spas. There has been an increase in medical spa clients aged 18 to 30 in recent years due to the high influence of social media, such as Instagram, Snapchat, & TikTok, on teenagers and millennials are anticipated to further expand the market growth in coming year.
The onset of the COVID-19 pandemic resulted in a revenue loss for cosmetic service providers. Aesthetic procedures were considered to be elective and non-essential and hence were postponed or canceled during the pandemic. On the other hand, the lockdowns encouraged people to use video conferencing facilities, which made them more conscious of their looks. This led people to opt for cosmetic treatments as soon as the medical facilities re-opened, providing considerable growth opportunities for the market.
Medical Spa Market Report Highlights
- Based on service, the facial treatment segment dominated the market with a revenue share of 54.1% in 2023, due to the increasing demand for minimally invasive facial procedures
- The body shaping and contouring service segment is expected to grow at the fastest CAGR over the forecast period
- Based on gender, the female segment held the largest revenue share in 2023, owing to high adoption of facial cosmetic procedures. The male segment, on the other hand, is anticipated to witness the fastest CAGR from 2024 to 2030
- Based on age group, the adult segment dominated the market in 2023 and is anticipated to witness fastest CAGR over the forecast period, owing to high spending capacity and increasing demand for dermal fillers
- North America dominated the medical spa industry in 2023, owing to an increase in adoption of aesthetic procedures
- In September 2023, Lanserhof revealed plans to inaugurate its fourth health resort in Marbella, Spain, by 2026, with construction commencing mid-2024. To realize the project, Lanserhof collaborated with AltamarCAM and Inbest-GPF, with a joint investment of USD 105.4 million (EUR 100 million or GBP 86.8 million) into development
Companies Mentioned
- Chic La Vie
- Clinique La Prairie
- Kurotel Longevity Medical Center and Spa
- Lanserhof
- The Orchard Wellness Resort
- Biovital Medspa
- Allure Medspa
- Longevity Wellness Worldwide
- Serenity Medspa
- Vichy Celestins Spa Hotel
- Brenners Park-Hotel & Spa
- SHA Wellness Clinic
- Cocoona Centre of Aesthetic Transformation
- Mezzatorre
- Aesthetics Medispa
- Lily’s Medi Spa
- Lisse
- The DRx Clinic
- Westchase Medspa
- Chiva Som
- Mandarin Oriental Hotel Group Limited
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $18.6 Billion |
| Forecasted Market Value (USD) by 2030 | $49.4 Billion |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/tk2e3l
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- Global Medical Spa Market
