Allied Market Research published a report, titled, ” Medical Spa Market by Service (Body Shaping, Hair Removal, Facial Treatment, Tattoo Removal, Scars & Striae, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030. ” According to the report, the global medical spa industry was estimated at $12.43 billion in 2020, and is anticipated to hit $29.54 billion by 2030, registering a CAGR of 9.0% from 2021 to 2030.
What are the key trends in the medical spa market report?
Increase in body shaping procedures, surge in aesthetic enhancements among the women and various technological advancements in cosmetic procedures is anticipated to drive the market in the forecast period.
Which is the most influencing segment growing in the medical spa report?
Facial Treatments segment dominated the global market in 2020, and expected to continue this trend throughout the forecast period due to increase in awareness among to look young, to have glowing skin and is thus expected to drive the segment.
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Medical spa has gained popularity over the years even in the developing countries owing to various benefits offered by the medical spa facilities. For example, it offers services such as skin resurfacing, Botox injections, dermal fillers, laser hair removal, chemical peels, and microdermabrasion. In addition, advances in laser technology for hair removal, vascular lesions, and the removal of scars and striae create growth opportunities for the market.
The major factors driving the growth of the medical spa market are increasing usage of aesthetic medicine and cosmetic treatment options for beauty enhancement coupled with growing wellness trend in developed countries for both women and men. Additionally, increasing demand for cosmetic enhancement procedures such as facial treatments, cryolipolysis, laser lipolysis, liposuction, tummy tuck, also known as tummy tuck, ultrasound, injectable treatments, red light therapy and others, due to people’s self-awareness, especially among women for beautification is on the rise.
Covid-19 Situation –
- The pandemic led to the closure of many health spas around the world, especially during the early stages of the pandemic, which also affected the global health spa market.
- However, the market should bounce back soon.
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Key market values / growth % of emerging countries –
North America is projected to account for a major share of the global medical spa market during the forecast period. U.S. dominated the North America medical spa market owing to huge number of facilities offering such services, rise in disposable income and aesthetic consciousness across the country.
The face care sector takes the lion’s share –
By employment, the facial care sector has the largest share in 2020, attracting almost a third of the global health spa market. This segment is also expected to witness the fastest CAGR of 10.3% from 2021 to 2030. This is due to the increased interest in facials among women and men for youthful and glowing skin.
Major Key Market Players in the Industry –
- Canyon Ranch
- Chiva Som
- Clinique La Prairie
- Allure Medspa
- Westchase Medspa
- Biovital Medspa
- Cocoon Medical Spa
- Hyatt Corporation
- True Skin Care Center
- Vilalara Longevity Thalassa & Medical Spa
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Medical Spa Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
- What is the total market value of medical spa market report ?
- What would be forecast period in the market report?
- What is the market value of medical spa market in 2021?
- Which is base year calculated in the medical spa market report?
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Key findings of the study –
- By function, the facial care sector is the largest contributor to the health spa market in 2020.
- Regionally, North America posted the highest revenue in 2020, while Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
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