The global medical spa market size was valued at $11,063 million in 2017, and is projected to reach $27,566 million by 2025, growing at a CAGR of 12.2% from 2018 to 2025. The facial treatment segment accounted for one-third share of the global market revenue in 2017.
Major Market Players
The key players operating in the global medical spa market are
- Allure Medspa,
- Biovital Medspa,
- Canyon Ranch, Inc.,
- Chiva Som,
- Clinique La Prairie,
- Hyatt Corporation, Sciton, Inc.,
- True Skin Care Center,
- Vilalara Longevity Thalassa & Medical Spa,
- Westchase Medspa
Other players operating in the value chain are Cynosure, Inc., Lumenis, Ltd., Syneron Medical, Ltd., Spa Vitoria, and Lanserhof.
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Medical spas or medispas uniquely blend medicine and aesthetics to provide quality cosmetic treatments in a relaxed ambience. Anti-wrinkle injections, Botox injections, fine-line reduction, acne therapy, and fillers are some of the various treatments included in medical spas.
Increasing use of aesthetic medicine and cosmetic treatment options for beauty enhancement and growing wellness trends among the developed countries drive the market. However, the medical spa procedures are very expensive, which restricts the market growth, especially in the developing economies. Moreover, the expansion of medical tourism in developing countries, such as India, China, and Brazil, creates lucrative opportunities for key market players.
Among the service category, the body shaping segment accounted for one-fifth revenue share of the global market in 2017. This has been owing to the recent advances in body shaping, which include various non-invasive techniques that enable lesser hospitalization and faster recovery. Thus, such advances in the body shaping segment are anticipated to augment the market growth.
Additionally, the hair removal segment accounted for one-sixth share in 2017 of the global market revenue. This growth is attributed to the innovations in the laser technology, owing to which permanent hair removal is now feasible. This also supplements the market growth.
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