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Medical Spa Market Expected to Reach $27,566 Million by 2025 | Major Key Players Included Allure Medspa, Biovital Medspa, Canyon Ranch, Inc., Chiva Som, Clinique La Prairie

11-13-2018 07:44 AM CET | Health & Medicine

Press release from: Allied Market Research

Medical Spa

Medical Spa

Medical Spa Market by Service: Global Opportunity Analysis and Industry Forecast, 2017-2025," the global medical spa market was valued at $11,063 million in 2017, and is projected to reach $27,566 million by 2025, growing at a CAGR of 12.2% from 2018 to 2025. The facial treatment segment accounted for one-third share of the global market revenue in 2017.

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Medical spas or medispas uniquely blend medicine and aesthetics to provide quality cosmetic treatments in a relaxed ambience. Anti-wrinkle injections, Botox injections, fine-line reduction, acne therapy, and fillers are some of the various treatments included in medical spas.

Increasing use of aesthetic medicine and cosmetic treatment options for beauty enhancement and growing wellness trends among the developed countries drive the market. However, the medical spa procedures are very expensive, which restricts the market growth, especially in the developing economies. Moreover, the expansion of medical tourism in developing countries, such as India, China, and Brazil, creates lucrative opportunities for key market players.

Among the service category, the body shaping segment accounted for one-fifth revenue share of the global market in 2017. This has been owing to the recent advances in body shaping, which include various non-invasive techniques that enable lesser hospitalization and faster recovery. Thus, such advances in the body shaping segment are anticipated to augment the market growth.

Additionally, the hair removal segment accounted for one-sixth share in 2017 of the global market revenue. This growth is attributed to the innovations in the laser technology, owing to which permanent hair removal is now feasible. This also supplements the market growth.

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Key Findings of the Medical Spa Market :

•The tattoo removal segment accounted for about one-seventh revenue share of the total market in 2017, and is expected to register a CAGR of 11.8% from 2018 to 2025.
•U.S. dominated the North America medical spa market and is projected to retain its trend throughout the forecast period.
•India is the fastest-growing country in the Asia-Pacific medical spa market, registering a CAGR of 14.2% during the forecast period.
•Brazil is the fastest-growing country in the LAMEA medical spa market, registering a CAGR of 13.9% during the forecast period.

In 2017, North America was the dominant revenue contributor, owing to the increase in the wellness trend and the early adoption of novel technologies in this sector. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period, owing to the presence of high-populace countries, such as India and China. In addition, the medical tourism enhancement also fuels the market growth.

The key players operating in the global medical spa market are Allure Medspa, Biovital Medspa, Canyon Ranch, Inc., Chiva Som, Clinique La Prairie, Hyatt Corporation, Sciton, Inc., True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa, and Westchase Medspa. Other players operating in the value chain are Cynosure, Inc., Lumenis, Ltd., Syneron Medical, Ltd., Spa Vitoria, and Lanserhof.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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