Medical Spa Market Research Report Information By Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal, and Other), By Age (Adolescent, Adult, and Geriatric), By Gender (Male and Female), and by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2030

Medical Spa Market Forecast

The medical spa market size is projected to be worth USD 45,827.31 million by 2030, registering a CAGR of 13.8% during the forecast period (2022 - 2030). Medical spas, also known as medi-spas or med spas, involve medical technology and expertise along with the relaxing experience of a spa. It provides overall skin care services, including fitness guidance and nutrition. It can treat and help with a variety of problems, such as acne, cellulite, and even sun damage. The market has been segmented based on service, age, and gender. Factors driving the market include the increasing use of cosmetic treatments, rising demand for minimally invasive solutions, and a rise in per capita income. However, the prohibitive cost of the procedures and the lack of skilled professionals are the major market growth restraints.

COVID-19 Analysis

The pandemic has raised awareness regarding health & wellness and nutrition among people who used to overlook their health. However, at the same time, due to the pandemic, the lockdown and temporary ban happened. As per the American Society of Plastic Surgeons (ASPS), in 2020 there was a 16% decline in minimally invasive cosmetic procedures compared to 2019. Furthermore, the market experts were forced to close the medical spa offices during the pandemic due to the decrease in cosmetic treatments, minimally invasive procedures, and a substantial reduction in revenue. Additionally, according to the American Med Spa Association (AmSpa) in its 2020 Medical Spa Industry Short Survey-COVID-19 impact, there was a 43.0% loss in revenue in the US. Hence, COVID-19 has significantly affected the overall market growth of the global medical spa market.

Market Dynamics

Drivers

• High demand for minimally invasive procedures
  
  
  
  • Minimally invasive procedures, such as botox, fillers, and chemical peels, are the imperative procedures driving market growth. According to the American Society of Plastic Surgeons' plastic surgery statistics, over 44% of cosmetic surgeries in the US are performed on people aged 30 to 39, with 6.14 million cosmetic procedures registered, including 5.42 million minimally invasive surgeries and 685,000 surgeries.
  
  
  • Additionally, the World Health Organization estimated that skin diseases are widely recognized as human welfare problems and affect 1.25 billion people across the globe. Common skin diseases include pyoderma, scabies, acne, moles, and dermatitis. The high prevalence of the diseases mentioned above, as well as the high demand for minimally invasive treatments such as fillers and Botox, are driving market growth.
  
  
  
  


• Rising per capita income


• Increasing incidences of skin diseases

Market Restraints

• Excessive cost of spa devices and lack of reimbursement
  
  
  
  • The inflated costs of medical spa services are due to the high costs demanded by manufacturers for the products, which is retarding the market's growth. Furthermore, high-cost factors included R&D, the need to conduct extensive trials for product approval, the shutdown of COVID-19 production and supply, and other costs, which lead to expensive product costs in the market.
  
  
  • Furthermore, managing the consumables such as lotions, handpieces, etc. and replacing them adds up to a market cost. Hence, the technology requires the replacement of consumables, which retards the market's growth.
  
  
  
  


• Risk associated with non-surgical procedures

Market Opportunities

• Increase in medical tourism
  
  
  
  • Medical tourism is growing rapidly and grabbing attention across the world due to highly engaged governments and business strategies such as how to define, organize, and promote medical tourism. Medical spa and aesthetics play an integral role in the medical tourism industry. The countries with well-developed public-private collaborative bodies, including associations with broad participation or medical tourism cluster networks, are promoting, and developing medical tourism capabilities. Moreover, the rising number of healthcare facilities getting international accreditation to ensure patient safety and provide care is projected to create opportunities during the forecast period.
  
  
  
  


• Rapid growth of the medical spa market due to collaboration

Value Chain Analysis

The global medical spa market is projected to exhibit significant growth over the forecast period, which can be attributed to factors like the rising prevalence of skin diseases and increased awareness of personal appearance. The value chain analysis for the market comprises five major components, which start with research & product development, followed by the manufacturing of the products, distribution & sales, and ends with post-marketing surveillance.

Segment Overview

By Service

Facial Treatment

The medi-facial, also known as medical facial or medical-grade facial, is focused on treating skin conditions that are safe and effective for all types of skin. It is performed under the supervision of certified and experienced dermatologists using a variety of devices such as microcurrents, dermaplaning, photo rejuvenation, and others. It provides advantages such as helping to tighten skin, moisturizing skin, reducing ageing signs, as well as possessing anti-inflammatory and anti-bacterial properties. Furthermore, in 2021, the segment accounted for the largest market share due to factors including the rising prevalence of beauty consciousness in urban areas and growth in disposable income.

Body Shaping & Contouring

Body shaping, also known as body sculpting and contouring, is a type of plastic surgery procedure used to improve the appearance and reshape the body. It is done through surgical and non-surgical methods, which covers the body's face, neck, upper arms, breasts, and others. Furthermore, factors supporting the segment’s growth include increasing cases of obesity worldwide and rising awareness regarding cosmetic surgeries.

Hair Removal

Hair removal is a medical procedure that can only be done by an experienced person. The hair removal process is done through procedures including medications and laser treatments that focus on removing the hair and stopping the growth of the hair. Moreover, factors including advanced technology concerning aesthetic laser products and increasing concern related to facial hair are fueling the segment’s growth.

Scar Revision

Scarring is the damage to skin that is composed of fibrous tissue and happens due to infections, inflammation in the tissue, surgery, and injuries. There are diverse types of scars, including sunken, lumpy, flat, and colored. Scar revision is a procedure that changes the appearance of the scar and makes the skin cleaner and clearer. A wide variety of treatments for scar revision, such as keloid scar and scar tissue removal, steroid injection, and cryotherapy, are used for the removal of the same.

Tattoo Removal

Tattoo removal is a procedure that is usually performed under expert supervision to remove the undesired tattoo from the dermis layer using techniques such as laser surgery, surgical removal, and dermabrasion. Furthermore, factors supporting the segment are the tattoo trend, provoking designs, and rising demand for non-invasive procedures.

Others

Other services include microdermabrasion and skin rejuvenation. Microdermabrasion is used to treat the dead skin cells at the end of the winter season and beginning of summer.

By Age

Adolescent

Adolescent age group populations are more prone to having pimples, acne scars, and other skin-related issues, which have a negative impact on one’s social and emotional well-being. The rise in the trend of self-care, the use of social media among teenagers, the increase in marketing and branding to raise awareness are boosting the growth of the segment.

Adult

Adults have started to lean towards self-care owing to living longer and healthier lives. They are striving more to look the same as they used to during their early years. Overall, they just want to retain their youthful appearance. Moreover, factors supporting the segment's growth are the trend of being healthy and influence via social media.

Geriatric

The geriatric population is more prone to having eczematous dermatitis, fungal infections, pruritus, and bacterial and viral infections. Several skin conditions are the reasons that proliferate the segments' growth. Furthermore, factors including decreased immune surveillance, decreases in personal care, epidermal turnover, and scrutinizing immunological functions that are responsible for fungal infections support the segment's growth.

By Gender

Men

Men have been taking care of their health and skin in recent years, especially those who are in the spotlight. They use botox for smoothing purposes, deep wrinkles below the eyes, and forehead areas, as well as seek injectable treatment for the crow’s feet and wrinkles. Additionally, willingness to delay ageing, increasing adoption of massage, and a rising trend in grooming are fueling the segment's growth.

Women

The women use the same common spa services as the men, including massaging, facials, and skin treatments such as laser hair removal and skin tightening. The med-spas provide a wide range of cosmetic treatments and services such as wrinkle relaxers, microdermabrasion, and others. For instance, wrinkle relaxers are cosmetic injectables used to remove wrinkles along with facial lines and frown lines include botox, disport, and others. Hence, the aforementioned treatments and services are fostering the segment's growth. Additionally, the women segment held the largest market share in 2021.

Regional Analysis

The medical spa market based on the region has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

Asia-Pacific

The rise in the number of minimally invasive and invasive procedures along with the presence of advanced technology are anticipated to drive the market growth in the region.

The Asia-Pacific region is expected to show the highest CAGR during the forecast period. This is due to factors including rapid advancement of technology, demand for both minimally and invasive treatments, and an increasing senior population. Furthermore, companies are launching new products aiding in regional market growth. For instance, in June 2021, Clinique La Prairie (US) launched a new medical menu at its Bangkok Medical Spa & Aesthetics destination through its partnership with St. Regis, Bangkok. This partnership that expanded the company's presence in Asia-Pacific. Such initiatives boost the market growth in the region.

Competitive Landscape

Market experts are improving business through planning and adopting new strategies to increase their market presence. Moreover, they are adopting several strategic initiatives with regard to medical spa devices, such as new product launches, contractual agreements, mergers, and acquisitions, increasing investments, and partnering with other players to enlarge the medical spa field across the globe.

Chic La Vie (US) is one of the key market players, founded in 2010. It is a medical spa & laser institute that offers non-invasive cosmetic procedures and expertise in restoring youth, weight loss, and beauty. They possess a varied product portfolio of medical spa and consumables, including injectables, skin treatments, cool sculpting, and Venus’s freeze. In November 2021, it launched the botox rejuvenating procedures for men and women.

List of companies covered in this report:

• Chic La Vie (US)


• Sciton, Inc (US)


• Longevity Wellness Worldwide (US)


• Alma Lasers, Ltd. (Israel)


• Lumenis Ltd (Israel)


• Soliton (Japan)


• Allergan (Ireland)


• Antares Pharma (US)


• Superdrug (UK)


• Clinique La Prairie (US)

Recent Developments

• In September 2020, Soliton (Japan) and Aesthetic Solutions Private Limited (India) agreed to bring out the latter by selling Soliton's RAP (rapid acoustic pulse) device along with designing the cartridges.


• In October 2018, Lumenis Ltd. (Israel), which is the energy-based clinical gadget organization, announced the dispatch and accessibility of the SPLENDOR X, incorporated with the innovative BLEND X for hair removal.


• In August 2018, Antares Pharma (US) developed a drug-device rescue pen (an injectable) along with Pfizer Inc. (US). This has increased the product portfolio of the company as well as boosted the revenue.


• In August 2018, Superdrug (UK) developed a new skin rejuvenating injectable product for permanent fillers. This has augmented the growth of the market.


• In April 2018, Alma Lasers, Ltd. (Israel), launched a hand-free body contouring solution at the Aesthetic & Anti-aging Medicine World Congress (AMWC).

Report Overview

The study covers the existing short-term and long-term market effects. It helps decision-makers to draw up short-term and long-term business plans by region. The report covers major regions in North America, Europe, Asia-Pacific, and the rest of the world. The report analyses market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.

Study Objectives

• To provide a detailed analysis of the market structure and forecast for the various segments of the medical spa market over the next seven years.


• To provide insights about factors affecting the market's growth.


• To analyzes the medical spa market based on numerous factors such as price analysis, supply chain analysis, Porter's five force analysis, etc.


• To provide historical and forecast revenues of the market segments and sub-segments concerning four main geographies and their countries: North America, Europe, Asia-Pacific, and the Rest of the World.


• To provide a country-level market analysis for the current market size and prospects.


• To provide a country-level analysis of the market for segments by type, product, and end-user.


• To provide strategic profiling of key players in the market, comprehensively analyze their core competencies, and draw a competitive market landscape.


• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers & acquisitions, new product developments, and R&D in the medical spa market.

Market Segmentation

Global Medical Spa Market, By Service

• Facial Treatment


• Body Shaping & Contouring


• Hair Removal


• Scar Revision


• Tattoo Removal


• Other

Global Medical Spa Market, By Age

• Adolescent


• Adult


• Geriatric

Global Medical Spa Market, By Gender

• Male


• Female

Global Medical Spa Market, By Region

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Intended Audience

• Market Research and Consulting Service Providers


• Laser equipment manufacturers & Suppliers


• Medical Spa Service Providers


• Aesthetics Products Manufacturers & Suppliers


• Contract Research Organizations (CROs)


• Research And Development (R&D) Companies


• Government Research Laboratories


• Independent Research Laboratories


• Government and Independent Regulatory Authorities


• Academic Institutes and Universities