Medical Spa Market by Service (Body Shaping & Contouring, Hair Removal, Body Treatment, Facial Treatment, Tattoo Removal, Scars & Striae, and Other Services), by Age Group (18-35 years, 36-50 years, 51-70 years, and 71 years & above), and by Gender (Male and Female) – Global Opportunity Analysis and Industry Forecast, 2023–2030

Market Overview

The global Medical Spa Market size was valued at USD 8.00 billion in 2023, and is predicted to reach USD 22.85 billion by 2030, with a CAGR of 13.9% from 2024 to 2030. Medical spa, also known as medspa, is a special fusion of medicine and aesthetics that offer high-quality cosmetic procedures under medical supervision in a peaceful and soothing setting. It includes various treatments, such as botox injections, anti-wrinkle & fine line reduction treatments, acne therapies, fillers, and laser operations.

All of these treatments are aesthetic and primarily intended to rejuvenate or improve a person's appearance. They offer treatments for stretch marks, veins, and laser hair removal. In addition, they offer skincare items recommended by dermatologists, which aid in maintaining skin health after various procedures are completed.

Increased Demand for Non-Invasive Cosmetic Procedures

The demand for non-invasive cosmetic procedures has been on the rise in recent years, and this trend is expected to continue during the forecast period. According to the latest report by the Aesthetic Society Statistics, around 7,774,106 women and 3,51,098 men performed non-invasive cosmetic procedures in 2021. Non-invasive cosmetic procedures appeal to many people as they offer a way to enhance appearance without surgery or a lengthy recovery period. These procedures are often lesser costly and risky than surgical procedures, making them a popular choice for people seeking to improve their appearance.

Some of the most popular non-invasive medical spas offer injectables, such as botox & fillers, laser treatments, and skin rejuvenation procedures including microdermabrasion & chemical peels. These treatments are designed to improve the appearance of the skin, reduce signs of aging, and address various skin concerns, such as acne, uneven skin tone, and sun damage. Hence, the rise in demand for non-invasive treatments is a key driver for the growth of the medical spa market.

Growth in the Popularity of Wellness and Self-Care Among Individuals

The medical spa market has benefited from the focus of individuals on wellness and self-care. People have become focused on maintaining a healthy and balanced lifestyle, so they are increasingly looking for non-invasive cosmetic treatments to help them look their best. They are inclined toward treatments that improve their appearance and help them feel relaxed and rejuvenated.

Medical spas offer a range of treatments, such as massage therapy and body wraps, which help individuals feel pampered and refreshed. Moreover, there is a rise in awareness regarding the importance of taking care of skin for aesthetics and overall skin health. Medical spas offer a range of treatments and products such as chemical peels and medical-grade skincare, including hyaluronic acid serums, vitamin C serums, and retinoids. These help individuals improve their appearance and skin health, which, in turn, is expected to boost the medical spa market growth. 

High Cost of SPA Equipment and Surge in Procedure Costs

The acquisition of advanced spa equipment is financially burdensome for medical spa operators. Innovative technologies and equipment such as lasers and light therapy devices often come with a significant cost. In addition, regular maintenance, calibration, and upgrades further add to the expenses. These high costs limit the number of medical spas, potentially limiting the availability of certain advanced treatments to the smaller market segment.

Furthermore, the high cost of spa equipment and supplies directly impacts the prices of procedures. This makes certain treatments and services inaccessible or unaffordable for a significant portion of the population, which, in turn, hampers the market growth.

Technological Advancements in Skincare Equipment

The industry is anticipated to grow due to the popularity of skin rejuvenation, laser hair removal, and dermal fillers. The growth in the implementation of advanced technologies such as advanced serum infusion facial and radio frequency micro-needling techniques provide the safest and most non-invasive beauty devices. It minimizes pain and the risk of infection. It also offers effective cosmetic treatment and aids in rejuvenation, which is expected to create ample growth opportunities for key players in the medical spa market.

Geographical Analysis

The European region holds a significant share of the medical spa market, and is poised to maintain its dominance throughout the forecast period. This is attributed to the prevalence of skin conditions such as acne, eczema, and rosacea. These conditions have been on the rise, leading to increased demand for treatments offered by medical spas. According to the National Institute for Health and Care Excellence, acne is the most common skin condition affecting 95% of people in England. These conditions can be treated with a range of medical spa treatments, including facials, peels, and laser treatments, thereby contributing toward the growth of the global market in the U.K.

Moreover, the region has experienced consistent growth in disposable income, leading to a greater willingness among individuals to allocate funds toward luxury services and aesthetic treatments. According to estimates from the Office for National Statistics (ONS) Household Finances Survey, the median household disposable income in the U.K. for the financial year ending (FYE) 2022 was about USD 34,450. This trend has created a demand for premium services and advanced procedures offered by medical spas, appealing to consumers with high purchasing power.

On the other hand, North America is expected to show a steady rise in the medical spa market, owing to the growing importance placed on wellness and self-care. Individuals are increasingly devoted to cultivating a healthy and balanced lifestyle, leading them to seek out non-invasive cosmetic treatments that enhance their appearance. Recent findings from the International Spa Association reveal that the spa industry in the U.S. experienced a remarkable surge, generating around USD 18.1 billion in revenue in 2021. This represents an impressive 50% increase compared to the previous year's revenue of approximately USD 12.1 billion. This upward trajectory is projected to persist as more and more individuals prioritize their well-being.

Furthermore, the rise in disposable income serves as a major driving factor for the growth of the medical spa market in North America. According to the OECD Better Life Index, the average per capita net-adjusted household disposable income amounts to USD 34,421 in Canada. As household incomes rise, individuals have more discretionary income to spend on luxury and self-care services, including medical spa treatments.

Competitive Landscape

Various market players operating in the medical spa industry include Canyon Ranch, Chiva Som, Cocoon Medical Spa, Clinique La Prairie, Hilton, Marriott International, Four Seasons Hotels and Resorts, Radisson Hotels International, Inc., Hyatt Corporation, Wyndham Destinations, Shangri-La Asia Limited, Mandarin Oriental International Limited, Chic La Vie Med Spa, Cocoona Clinics, and Lanserhof Lans. These companies are adopting various strategies to remain dominant in the global market.

For instance, in February 2023, Hilton opened a new resort and spa facility in Egypt called the Hilton Marsa Wazar Red Sea Resort & Spa. The resort is set to open in 2024, and will offer a range of amenities, including multiple restaurants, swimming pools, a spa, and others. With the company’s focus on relaxation, rejuvenation, and wellness, the medical spa market is expected to grow as more people prioritize self-care and holistic health practices.

Moreover, in January 2023, Four Seasons Hotel New York Downtown launched "Next Health and Wellness Services," a collection of medical spa services that include personalized treatments, fitness programming, and a range of wellness offerings. The launch of this new service reflects the growing demand for medical spa services as more people seek out innovative ways to improve their overall health and well-being.

In March 2022, Chiva-Som announced its official opening of Zulal Wellness Resort by Chiva-Som in Qatar. Zulal Wellness Resort is the world’s first contemporary showcase of Traditional Arabic and Islamic Medicine infused with evidence-based wellness practices and the world’s first wellness-focused family resort.

Key Benefits

• The report provides quantitative analysis and estimations of the medical spa market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the medical spa market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the medical spa market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Medical Spa Market Key Segments

By Service

• Body Shaping & Contouring

• Hair Removal

• Body Treatment

• Facial Treatment

• Tattoo Removal

• Scars & Striae

• Other Services

By Age Group

• 18-35 years

• 36-50 years

• 51-70 years

• 71 years & above

By Gender

• Male

• Female  

By Region

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• Rest of the World (RoW)

  • Latin America

  • Middle East

  • Africa

Report Scope and Segmentation

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