Rising adoption of non-invasive cosmetic procedures and wellness services will drive growth of global medical spa market, say reports from TNR and Niche Research

The global medical spa market is expected to reach USD 86.6 billion by 2034, growing at a CAGR of 14.6% over the forecast period (2024-2034).

WILMINGTON, Del., July 02, 2024 (GLOBE NEWSWIRE) — The medical spa market has emerged as a dynamic segment within the broader wellness and beauty market, blending medical procedures with spa therapies to meet growing consumer demand for non-invasive cosmetic procedures. Also known as med spas or medi-spas, these facilities offer a wide range of services, from skin rejuvenation and anti-aging procedures to laser hair removal and injectables, all under the supervision of licensed medical professionals. The global medical spa market has experienced significant growth in recent years due to growing consumer awareness of advanced skin care procedures and a growing preference for minimally invasive procedures.

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Consumers are increasingly choosing non-surgical treatments such as Botox injections and dermal fillers that offer faster recovery and natural results. Advances in medical technology such as laser devices and ultrasound treatments are improving the effectiveness and safety of procedures offered at medical spas. Advances in diagnostic tools and skin care formulations are increasing the importance of personalized treatment plans tailored to individual skin types and concerns. Medical spas are also including wellness services such as nutritional counseling, mindfulness practices, and integrative therapies in their offerings to meet holistic health needs. For example, in April 2024, JEUNESSE will introduce the advanced HydraFacial treatment at its Jeunesse Medical Spa facilities in Holmdel and Old Bridge, USA, offering a new luxury experience in skin care.

Rapid urbanization and rising disposable income in emerging economies are creating untapped opportunities for market expansion. Collaboration with dermatologists, plastic surgeons, and other healthcare providers can increase credibility and attract a wider clientele seeking medical-grade treatment. Introducing new services such as body contouring, tattoo removal, and IV therapy can attract a more diverse clientele and increase revenue streams. There is a growing trend to cater specifically to male clients, offering specialized treatments tailored to their skin care needs.

The COVID-19 pandemic has impacted the medical spa market in various ways. Initially, widespread lockdowns and restrictions on non-essential services led to temporary closures and reduced consumer spending. However, as restrictions were eased, demand saw a notable recovery as consumers sought out treatments that had been postponed during lockdown. The pandemic also accelerated the trend towards virtual consultations and digital marketing strategies, increasing operational efficiencies and expanding reach to a wider audience.

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In conclusion, the medical spa market is poised to experience robust growth driven by changing consumer preferences, technological advancements, and increasing focus on personalized health. Stakeholders can capitalize on emerging trends and opportunities by leveraging innovation, strategic partnerships, and a commitment to delivering high-quality, results-driven treatments. As the market continues to evolve, adapting to changing consumer trends and regulatory environments is essential to ensure sustained growth and profitability in the competitive landscape of medical aesthetics.

Key takeaways from the report:

• Hotels and resorts are expected to grow the fastest during the forecast period, capturing a revenue share of 34.6% in the medical spa market. They offer guests a holistic wellness experience. By incorporating medical spa services, these establishments are attracting customers seeking both relaxation and beauty treatments in a luxurious setting. This trend is reinforced by growing consumer preferences for holistic wellness while traveling, driving demand. Hotels and resorts are leveraging their existing amenities to capture a larger share of revenue from the medical spa sector.

• Owing to the rising incidence of acne across various age groups, the acne treatment segment dominated the market with a revenue share of 11.5%. Growing awareness and demand for advanced skin care solutions and medical spa treatments in treating acne has led to improved treatment outcomes, with more and more customers seeking effective solutions to their acne-related concerns.

• Based on gender, the female segment is expected to maintain its dominance in the global medical spa market in 2023. It is driven by a consistent demand for beauty and wellness treatments among women. Factors such as rising disposable income, growing awareness towards non-invasive cosmetic procedures, and a desire to maintain a youthful appearance are contributing to the growth of this segment. Medical spas, in particular, continue to cater to the tastes and needs of women, and are expected to maintain their dominance in the market and see sustained growth.

• The medical spa market in 2023 was led by the age group 17 to 34 years with a revenue share of 51.8%, owing to a strong trend towards preventive skin care and early intervention treatments.This age group values ​​a proactive approach to maintaining youthful skin and overall appearance, driving the demand for treatments such as chemical peels, acne management, laser treatments, etc. Growing awareness of skin care habits and aesthetic enhancements among young adults also contributes to their dominance in the market.

• In 2023, Europe consolidated its position as the second largest region in the global medical spa market. A combination of factorsThese include a strong healthcare infrastructure, increasing consumer demand for non-invasive cosmetic procedures, and growing preference for wellness and rejuvenation services. Europe has a strong culture of emphasis on skin care and beauty standards, which is also contributing to the popularity of medical spas, ensuring their sustained growth and significant revenue share in the region.

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Global Medical Spa Market Participants:

• Aesthetics Medispa

• Allure Med Spa

• Biovital Med Spa LLC

• Brenners Park Hotel & Spa

• Chic La Vie Med Spa

• Chiva-Som

• Clinique La Prairie

• Cocuna Center for Aesthetic Transformation

• Clotel Longevity Medical Center & Spa

• Lanserhof

• Lily’s Medical Spa

• Lisse

• Longevity Wellness Around the World

• Mandarin Oriental Hotel Group Limited

• Mezzatorre Hotel and Thermal Spa

• Serenity Med Spa

• SHA Wellness Clinic

• Spa Alaena Paris

• Vichy Celestins Spa Hotel

• Other Industry Players

Global Medical Spa Market

By Provider

By strength

• Preventive diagnostics

  • Personal Health Check

  • Medical consultation and general clinical examination

  • Integrative Medicine and Anti-Aging Consultation

  • Skin evaluation

  • Osteopathy and Biophysical Assessment

  • others

• Massage Treatments

• Clinical Treatment

  • Hydrotherapy

  • Body Wrap

  • Mud Treatment

  • acupuncture

  • Body regeneration

  • Detox Infusion

  • Ozone Therapy

  • others

• Facials, chemical peels, microneedling

• Body Contouring and Toning

• Botulinum toxin

• Hyaluronic Acid Dermal Fillers

• Acne Treatment

• Wrinkles and Anti-Aging

• Facial Rejuvenation

• Plasma enrichment therapy

• Breast Surgery

• Laser hair removal

• Genital aesthetics

  • Vaginal Rejuvenation

  • Labia Reduction Surgery

  • Hymenoplasty

  • others

• Scar correction

• Tattoo Removal

• others

Gender

By age

• 17 to 34 years old

• 35 to 54 years old

• Age 55 or older

By region

• North America (USA, Canada, Mexico, Rest of North America)

• Europe (France, UK, Spain, Germany, Italy, Nordic countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux (Belgium, Netherlands, Luxembourg), Rest of Europe)

• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)

• Middle East and Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East and Africa)

• Latin America (Brazil, Argentina, and other Latin American countries)

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