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Impact of COVID-19 Outbreak on Spa Services Market Outlook Analysis by 2022

05-13-2020 06:39 AM CET | Health & Medicine

Press release from: Allied Market Research

Spa Services Market

Spa Services Market

Global Spa Services Market projects that the market would reach $154.6 billion by 2022. Medical spa is expected to register the fastest growth, during 2016-2022. Spa services refer to a collective term assigned for various services such as facial, body massage, manicure, pedicure, body treatment and others provided under expert administrations that revitalizes the brain and body.

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These personalized services are efficiently designed to deliver fitness, peace of mind, pleasure, health, and wellness to its end users. Moreover, they are beneficial in managing stress, treating medical ailments, detoxifying the body, reducing weight, and boosting the immune system. The global spa services market is witnessing constant innovations such as use of hybrid spa technology, which utilizes its gas generated hybrid system to keep the spa heated up. The technology involves lesser usage of carbon and other chemicals, compared to other such heating systems and is cost effective as well.

The market is driven by hectic lifestyle in urban areas, rising demand from emerging markets, new developments in spa services, and rising demand from teenagers. Lucrative opportunities prevail in the spa industry owing to rising percentage of geriatric population and increasing demand from emerging markets. However, the market growth is hindered by high cost of skilled therapy professionals and low penetration in the underdeveloped countries.

The report segments the global spa services market on the basis of type and geography. According to type, it is classified into salon spa, hotel spa, destination spa, medical spa, mineral/thermal spa, and other spas (airport spa and cruise spa). In, 2015 salon spa occupied a prominent market share owing to affordable services offered by them. Geographic breakdown of the market includes North America (US, Canada, Mexico), Europe (Germany, Russia, France and Rest of Europe), Asia-Pacific (China, Japan, Thailand, Indonesia, Rest of Asia-Pacific), and LAMEA (Brazil, Middle East, Rest of LAMEA). In 2015, Europe held the largest market share due to huge demand arising from Russian middle income groups and rising tourism in the Eastern countries. LAMEA is expected to register the highest CAGR during 2016-2022, with increasing demand from developing countries and rising expenditure on tourism.

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Major market players in the global spa service market include Emirates Palace, Four Seasons Hotel Limited, Trailhead Spa, Massage Envy Franchising LLC, Jade Mountain, Six Senses Hotels Resorts Spas, Clarins Group, Lanserhof Tegernsee, Belmond Maroma Resort & Spa and Gaia Retreat & Spa. These players are focused on delivering customized and innovative services targeted to gain more customers. The customization is based on factors such as brands of products used, duration of service and others. Spas also invest in imparting professional training programs to their employed therapists to improve the quality of services delivered. Investments in various support services such as restaurants, lounges, and fitness centers, is being carried out by destination and other spas, which attracts more customers.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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