Medical Spa Market Size is Estimated to Grow at a CAGR of 13.3% | Valuates Reports
BANGALORE, India, Aug. 11, 2021 /PRNewswire/ -- Medical Spa Market is based on Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal, and Others), End-User (Men and Women), Geography – Global Forecast up to 2027. This report is published on Valuates Reports under Beauty & Fitness Category.
The Medical Spa Market is estimated to grow at the rate of 13.3% CAGR by 2027.
A medical spa is a combination of a traditional day spa and a medical clinic. Medical spas assist people with their everyday skin care practices and provide revitalizing therapies to keep their skin looking young and healthy.
Major factors driving the growth of the Medical SPA market are:
- Increasing usage of cosmetic treatment and medicines for beauty enhancement around the globe.
- Rising consumer awareness about self-care and anti-aging services along with the rapid expansion of the wellness tourism sector.
- A growing number of minimally invasive procedures, (such as chemical peels and non-surgical skin tightening, along with body sculpting and tattoo removal) are expected to further fuel the medical spa market.
- Furthermore, wellness packages offered in hotels as a part of wellness-themed vacation packages are expected to provide lucrative growth opportunities.
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TRENDS INFLUENCING THE GROWTH OF THE MEDICAL SPA MARKET:
The growing number of minimally invasive procedures, which has been fueled by the world's aging population, is one of the primary drivers of the global medical spa sector market. Medical spas combine medicine with aesthetics to offer high-quality cosmetic treatments in a relaxing setting. Medical spas offer anti-wrinkle injections, Botox injections, fine-line reduction, acne therapy, and fillers, among other services.
Furthermore, increasing use of aesthetic medicine and cosmetic treatment options for beauty enhancement and growing wellness trends among the developed countries drive the market.
Medi-spas also provide remarkable, technology-based therapies that can help you gain a better understanding of your health through a number of medical tests that can disclose the best treatments, activities, and diet for you. Take advantage of a personalized wellness plan based on the results of your DNA testing and thorough body analysis. These findings can help you personalize your medical spa vacation with individualized programs aimed at improving your well-being. This in turn is expected to drive the medical spa market growth.
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MEDICAL SPA MARKET SHARE ANALYSIS
The facial treatment segment is projected to have the maximum share in the medical spa industry. The maximum share of the segment is ascribed to the trend and rising awareness for enhancing self-appearance.
The men segment has lucrative growth compared to women. This is due to the increasing trend of grooming among males. Various companies are coming up with centers that are completely dedicated to male customers, which provide massage and facials that are particularly created only for male customers.
The North America region has held the major share in the market. The market growth in North America is majorly driven by the well-developed healthcare infrastructure, increased awareness about possible benefits of medical spa procedures, and quick acceptance of new types of medical spa techniques.
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MEDICAL SPA MARKET SEGMENTATION
Medical Spa Market based on Service
- Facial Treatment
- Body Shaping & Contouring
- Hair Removal
- Scar Revision
- Tattoo Removal
- Others.
Medical Spa Market based on End-User
- Men
- Women.
This report offers the various leading companies of market players
- Biovital Med Spa LLC,
- Vilalara Longevity Thalassa & Medical Spa,
- Kurotel - Centro Médico de Longevidade e Spa,
- Chic la Vie Med Spa,
- Cocoona Medical Spa,
- Westchase Medspa,
- Sciton, Inc.,
- Lanserhof Lans,
- Clinique La Prairie SA
- Canyon Ranch.
Medical Spa Market based on Geography
- North America
- Europe
- Asia Pacific
- Rest of the World.
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SIMILAR REPORTS
- Facial Treatment market size is projected to reach USD 1261.6 Million by 2027, from USD 823.1 Million in 2020, at a CAGR of 5.8% during 2021-2027.
- Hair Removal market size is projected to reach USD 342 Million by 2027, from USD 238.6 Million in 2020, at a CAGR of 4.8% during 2021-2027.
- Tattoo Removal market size is projected to reach USD 26820 Million by 2027, from USD 11410 Million in 2020, at a CAGR of 12.5% during 2021-2027.
- Spa Services Market is segmented by Typ Salon Spa, Hotel Spa, Medical Spa, by Application Mid size Businesses, Large Business and by various regions.
- Spa market size is projected to reach USD 108850 Million by 2027, from USD 76470 Million in 2020, at a CAGR of 4.7% during 2021-2027.
- Spa Bed Market is segmented by Type Double Fold, Three Fold, by Application Beauty Salon, Salon and by various regions.
- Spa Software market size is projected to reach USD 152.7 Million by 2027, from USD 89 Million in 2020, at a CAGR of 8.0% during 2021-2027.
- Skin Care Products Market generated revenue of USD 136,304 Million in 2016, and is expected to grow at a CAGR of 4.5% to reach USD 194,961 Million by 2024.
- Cosmeceuticals market size is projected to reach USD 19190 Million by 2027, from USD 13060 Million in 2020, at a CAGR of 5.6% during 2021-2027.
- Cosmetic Skin Care market size was USD 55070 Million and it is expected to reach USD 89550 Million by the end of 2027, with a CAGR of 7.1% during 2021-2027.
- Cosmetics ODM market size is projected to reach USD 15590 Million by 2026, from USD 7705.5 Million in 2019, at a CAGR of 10.6% during the forecast period 2021-2026.
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