Global Spa Market: Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026
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Factors Fuelling Global Market Growth
Growth of the global spa market is mainly bound to various macro-economic and micro-economic factors. Surge in hectic schedules and routines has continued to rev up demand for rejuvenating and relaxing therapies. Demand for anti-ageing treatments for the ageing population is further projected to boost demand for relaxing therapies and treatments globally. As the requirement of detoxifying the system arises, customers prefer spending increasingly on spa therapies.
Prevalence of arthritis and joint pains due to the hectic lifestyle has led to surge in demand for mineral springs spa treatment. The spa centers and resorts are increasingly using Malkinskaya mineral water, which is much known for its therapeutic effects on the cardiovascular conditions. In addition, the spa resorts and centers are also using iodine-bromine waters and hydrosulfuric healing techniques for treatment of chemical and heat burns among children and adults. Increasing demand for hydropathic treatment is mainly bound to growing number of disabled people with limited mobility.
Demand for spa therapies is further bound to growing prevalence of various chronic diseases such as bronchitis and asthma. A recent report by CDC states that 18.4 million people in the U.S., which is 7.6% of the adult population of 18 years of age and over are asthmatic. Growing prevalence of chronic disorders such as bronchitis and asthma has led to increased spending on sauna therapy and steam rooms. Moreover, sauna and spa treatments helps in detoxification of the system through the skin and widens the airways in asthmatic patients. Opting for steam baths helps in treatment of respiratory issues, bronchitis and coughing through loosening mucus and phlegm. Surge in demand for treatment of respiratory problems is projected to fuel growth of the global market of spa.
On the contrary, the global market of spa will continue to witness inhibiting growth due to various factors such as expensive spa packages. As spa packages are comparatively expensive as compared to the medical treatments received at the hospitals, demand for spa therapies is expected to drop in the global market. Demand for spa and sauna treatment is further projected to witness inhibiting growth due to increase in the severe cases of chronic diseases among customers globally. Moreover, spa treatments continue to remain a conventional treatment for asthmatic relief and pain management, due to which the patients prefer visiting the hospital and clinics. Such factors are further expected to impact growth of the global market negatively.
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Pain Management to Boost Demand for Spa Therapies
Mental exhaustion and stress due to hectic lifestyle has led to increased spending on relaxing and rejuvenating therapies such as spa and aromatherapy. With the increasing disposable, customers prefer spending on luxurious services and relaxing therapies. Increasing demand for rejuvenating and relaxing therapies to detoxify the system will continue to fuel demand for range of spa therapies. Hectic routines can further lead to physical stress leading to increasing demand for pain management. Demand for pain management will continue to contribute towards growth of the global spa market significantly. Leading players in the global market are increasingly capitalizing on such opportunity and offering range spa therapies to gain a competitive edge.
Anti-Ageing Treatment to Impact Global Market Growth
Growing need for anti-ageing treatments for clogged pores, acne, wrinkles and hyper-pigmentation is further expected to impact growth of the global spa market. Increasing old age population is increasingly spending on non-surgical treatments such as exfoliation and peel to improve their physical and mental health. Detoxification of the system and anti-stress treatment will continue to rev up demand for spa treatments in the global market. Such factors are expected to contribute towards growth of the global spa market during the forecast period.
Chronic Diseases to Underscore Lucrative Growth Opportunities
Prevalence of chronic diseases such as asthma will continue to boost demand for range of spa therapies in the global market. Patients of asthma have swollen airways that leads to breathing problems. Shortness of breath, coughing and wheezing are some of the common problems that the asthmatic patients face regularly. According to CDC, 7.6% of the adults who fall in the age bracket of 18 years and above i.e., 18.4 million people in the U.S. have asthma. Increased spending on relaxing therapies such as sauna and spa treatment provides the asthmatic patients a respiratory relief.
Leading market players operating in the global tissue expanders market include PMT Corporation, Sientra Inc., Allergan Plc, Johnson & Johnson, Polytech Health & Aesthetics, Groupe Sebbin, Koken Co. Ltd., AirXpanders Inc., GC Aesthetics and Guangzhou Wanhe Plastic Materials.
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