Medical Spa Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis Service Type (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal, and Others); Age (Adults, Adolescents, and Geriatrics); Region/Country
Detailed Analysis of COVID-19 Impact on the Medical Spa Market
Global Medical Spa Market is anticipated to grow with an elevated CAGR of around 13% over the forecast period (2021-2027). Medical Spas provide a variety of various aesthetic treatments such as Botox injections, anti-wrinkle, and fine line reduction treatments, acne therapy, fillers, and the latest laser procedures that enhances the individual appearance.
With the rapid advancement in technology and rising awareness of personal care among the population. The increasing incidences of premature aging due to population and inappropriate nutrition is a driving factor for the market growth of the medical spa. Furthermore, the increasing prevalence of hair loss cases is one of the major factors affecting the market for the medical spa. For instance, in a survey conducted by the Brazilian Society of Dermatology in 2020, Alopecia areata accounted for 1.2% of all dermatological consultations. Among the causes of hair loss, it was only less frequent than androgenetic alopecia and telogen effluvium. Moreover, the increasing celebrity endorsement along with the increasing influence of social media on medical aesthetics significantly contributes to the growth of the medical spa market.
Chic La Vie, Clinique La Prairie, Kurotel – Longevity Medical Center and Spa, Lanserhof Lans, The Orchard Wellness Resort, Biovital Medspa, Allure Medspa, Longevity Wellness Worldwide, and Serenity Medspa, are some of the prominent players operating in the Medical Spa market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of Medical Spa devices.
Insights Presented in the Report
“Amongst Service Type, facial treatment segment holds the major share”
Based on service type, the medical spa market is segmented into facial treatment, body shaping & contouring, hair removal, scar revision, tattoo removal, and others. The facial hair segment accounted for a significant market share in 2020 and it is estimated that it will exhibit a higher CAGR during the forecast period. The growth of this segment is due to the reason that the facial skin is considered thinner than other body parts and it is the most exposed part of the body and is highly affected by pollution, dirt, and UV light resulting in the face requiring more care. Furthermore, the increasing availability of minimally invasive treatments for facial beauty contributes to the growth of the segment in the medical spa market. For instance, fat- face a soft tissue fillers technique accounted for 133,720 procedures in 2020.
“Amongst Age, adults segment holds the major share”
Based on age, the market is divided into adults, adolescents, and geriatrics. The adult segment grabbed a significant market share in 2020 and is anticipated to grow at a rapid rate in the upcoming years owing to the rapidly increasing adult population and their increasing interest in aesthetic beauty and products. In 2020, the U.S. Census Bureau counted 331.4 million people living in the United States out of which the 258.3 million were adults, 18 years or older a 10.1% increase from 234.6 million in 2010. Furthermore, the appearance of aging signs in the early 30s such as wrinkles, baldness, and dark spots is one of the factors for the segmental growth in the medical spa market.
“North America represents one of the largest markets of Medical Spa market”
For a better understanding of the market dynamics of the Medical Spa market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. In 2020, North America dominated the Medical Spa industry. This can be mainly due to the increasing influence of botox treatment among the adult population coupled with their growing disposable income supporting the growth of the medical spa market in the region. Furthermore, the surging skin melanoma cases in the region increase cautiousness about skin and personal health that resulting in the increasing popularity of medical spas in the region. As per the national cancer institute, 99,780 new cases of skin melanoma have been reported in the year 2022 which is 5.2% of the new cases.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
The global Medical Spa market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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|1.1. Market Definitions|
|1.4. Currency used in Report|
|2.1. Research Process of the Medical Spa Market|
|2.2. Research Methodology of the Medical Spa Market|
|2.3. Forecasting Method|
|2.4. Respondent Profile|
|2.5. Main Objective of the Medical Spa Market Study|
|3. MARKET SYNOPSIS|
|4. EXECUTIVE SUMMARY|
|5. GLOBAL MEDICAL SPA MARKET COVID-19 IMPACT|
|6. GLOBAL MEDICAL SPA MARKET REVENUE, 2019-2027F|
|7.1. Facial Treatment|
|7.2. Body Shaping & Contouring|
|7.3. Hair Removal|
|7.4. Scar Revision|
|7.5. Tattoo Removal|
|9.1. North America Medical Spa Market|
|9.1.1. United States|
|9.1.3. Rest of North America|
|9.2. Europe Medical Spa Market|
|9.2.6. Rest of Europe|
|9.3. Asia Pacific Medical Spa Market|
|9.3.5. Rest of Asia Pacific|
|9.4. Rest of World Medical Spa Market|
|10.1. Market Drivers|
|10.2. Market Challenges|
|10.3. Impact Analysis|
|11. MEDICAL SPA MARKET OPPORTUNITIES|
|12. MEDICAL SPA MARKET TRENDS|
|13. LEGAL & REGULATORY FRAMEWORK|
|14.1. Demand Side Analysis|
|14.2. Supply Side Analysis|
|15. VALUE CHAIN ANALYSIS|
|16.1. Competitive Landscape|
|16.1.1. Porter’s Five Forces Analysis|
|17.1. Chic La Vie|
|17.2. Clinique La Prairie|
|17.3. Kurotel – Longevity Medical Center and Spa|
|17.4. Lanserhof Lans|
|17.5. The Orchard Wellness Resort|
|17.6. Biovital Medspa|
|17.7. Allure Medspa|
|17.8. Longevity Wellness Worldwide|
|17.9. Serenity Medspa|
|17.10. Bijoux Medi-Spa|
Analyzing the historical market, estimating of the current market, and forecasting the future market of the global Medical Spa market were the three major steps undertaken to create and analyze the adoption of medical spas in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global medical spa market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the medical spa through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the medical spa market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as service type and age. Further country-level analyses were conducted to evaluate the overall adoption of medical spa across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the medical spa. Further, we conducted factor analysis using dependent and independent variables such as the growing number of people with chronic diseases and the increasing elderly population all over the globe. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the medical spa sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the medical spa market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Medical Spa across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the medical spa market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the medical spa market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of service type and age of the medical spa market.
The main objective of the Medical Spa Market Study
The current & future market trends of medical spa were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of medical spa in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of service type and age
- Define and analysis of the regulatory framework for the medical spa industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the medical spa market for the major region
- Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
- Company profiles of the medical spa market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry