CHICAGO, Sept. 27, 2017 /PRNewswire/ -- The American Med Spa Association (AmSpa) uncovers key findings from its annual 2017 Medical Spa State of the Industry Report, the only resource of its kind delivering industry information focusing specifically on United States based medical spas.
During the past five years, the medical spa industry has become one of the most lucrative new industries in the country. AmSpa and Marketdata estimate that medical spa industry revenues have been growing at a double-digit pace since 2010, and by more than 20 percent per year since 2013.
"Medical spas represent a four billion dollar industry; one that our survey projects to grow an additional eight percent by 2020," says AmSpa Founder and Director Alex Thiersch.
AmSpa provides the baseline data and legal compliance resources necessary for the medical spa industry to be compliant, safe and successful.
"Our report revealed that the medical spa industry is run by an incredibly diverse base of professionals, including both core and non-core physicians, nurses, entrepreneurs and extenders (nurse practitioners and physician assistants)," Thiersch continues. "Because of the varying levels of medical regulatory and compliance knowledge in this group, it is critical that we as an industry come together to continue safely evolving the profession as a whole."
Millennials Love Med Spas
Millennials have now surpassed Baby Boomers in numbers, making the medical spa future even brighter as these up-and-comers enter their prime income-earning years. Millennials account for nearly 20 percent of medical spa patients. This age group (18-34) is dedicated to prevention, contributing to the industry's positive growth trajectory over the coming years.
While more than 85 percent of medical spa clients are female, men account for an increasing piece of the pie.
"There is far less stigma attached to male aesthetic treatments than even five years ago," says Thiersch. "Since men, particularly Millennial men, can see treatments done live on social media and hear their counterparts talk about procedures openly, there will be far less fear of the unknown and a greater drive by men to visit a medical spa."
Visit www.americanmedspa.org/page/2017study for more information.
The American Med Spa Association provides business and legal resources to medical spas and aesthetic practices across the country.
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SOURCE American Med Spa Association, LLC