Report Ocean conducted research on the global Medical Spa market, some important discoveries were made. First, the market is expanding steadily, and over the coming years, demand is expected to rise. Second, there is a lot of market competition, yet only a few major businesses control the sector. Last but not least, there are numerous chances for market innovation and improvement, notably in terms of product offerings and marketing tactics.
The global medical spa market size was US$ 13681.8 million in 2021. The global medical spa market size is forecast to reach US$ 29,642.33 million by 2030, growing at a compound annual growth rate (CAGR) of 10% during the forecast period from 2022 to 2030.
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Medical spas, also known as medispas, combine medicine and aesthetics. They offer medically recommended and supervised quality cosmetic treatments in a relaxing environment. Licensed aestheticians’ doctors and wellness coaches oversee these therapies under the direction of dermatologists, doctors, and plastic surgeons. Medical spas offer a variety of skin care treatments, such as dermal fillers, Botox injections, Juvederm, fine-line treatments, acne therapy, and high-tech laser procedures. All of these therapies are cosmetic in nature and aim to rejuvenate or enhance the appearance of a patient. Additionally, non-surgical lifts and body sculpting procedures, including the newly developed cool sculpting, are becoming increasingly popular.
Factors Influencing Market Growth
A major driving force behind the expansion of the global medical spa market is the increase in skin damage, changes in lifestyle, and the increase in non-invasive procedures, such as cryolipolysis, laser lipolysis, liposuction, and tummy tuck. These procedures are highly popular with women due to increased levels of self-consciousness and a desire to be beautiful.
Due to a low penetration rate in developed and underdeveloped nations and the high cost of skilled health care professionals, the market may experience slow growth.
Future advancements in medical treatments offered in medispas, including laser technology, dermal fillers, and ultra-therapy, are forecast to provide lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 outbreak negatively impacted the medical spa market. Globally, organizations have reorganized a large number of clinics and hospitals to increase the capacity for COVID-19 patients. COVID-19 cases led to a potential backlog of non-essential procedures. As a result of the lockdown, manufacturing, and transportation of healthcare essentials ceased their operations. Due to the closure of medical spas, their visits and procedures fell dramatically during the pandemic.
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Regional Insights
North America accounted for the largest share of the global medical spa market in 2021 and is forecast to continue dominating during the forecast period. There has been a rise in awareness of one’s appearance, a significant increase of aging bodies, adoption of technologically advanced treatments, and rising healthcare expenditures in the region.
The Asia Pacific is forecast to grow significantly during the forecast period. Due to its increasingly aging population, rise in disposable incomes, and development of many spa treatments.
Leading Competitors
The leading prominent companies profiled in the global medical spa market are:
Allure Medspa
Biovital Medspa
Canyon Ranch
Chiva Som
Cocoon Medical Spa
Clinique La Prairie
Hyatt Corporation
True Skin Care Center
Vilalara Longevity Thalassa & Medical Spa
Westchase Medspa
Other Prominent Players
Scope of the Report
The global medical spa market segmentation focuses on Service and Region.
Segmentation based on Service
Body Shaping
Hair Removal
Facial Treatment
Tattoo Removal
Scars & Striae
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
?The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
?The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
?Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
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