Medical Spa Market estimated to surge ahead at a CAGR of 15.1% to US$ 150.3 Bn by the end of 2033

The medical spa market has experienced significant growth in recent years, driven by the increasing demand for non-surgical cosmetic procedures and the rising focus on wellness and self-care. Medical spas, also known as medspas or medi-spas, combine traditional spa services with medical treatments and procedures, offering a unique blend of relaxation and aesthetic enhancements under the supervision of medical professionals.

Worldwide revenue from the medical spa market stands at US$ 31.8 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 15.1% to reach a valuation of US$ 150.3 Bn by the end of 2033.

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One of the key drivers for the growth of the medical spa market is the growing interest in non-surgical cosmetic procedures. People are seeking alternatives to invasive surgeries for aesthetic enhancements, such as facial rejuvenation, body contouring, and hair removal. Medical spas provide a safe and convenient environment for individuals to undergo these procedures, often using advanced technologies and equipment to achieve desired outcomes without the risks and downtime associated with surgical interventions.

Companies

Dermani Medspa
Lanserhof Tegernsee
Chic La Vie
Crown Aesthetics
Allure MedSpa
Cienega Med Spa, Inc.
Clinique La Prairie
Willow Medspa

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The increasing focus on wellness and self-care has also contributed to the popularity of medical spas. With the rise in stress-related health issues and the desire for holistic well-being, individuals are turning to medical spas as a way to relax, rejuvenate, and improve their overall appearance. Medical spas often offer a range of services beyond cosmetic treatments, including massages, facials, acupuncture, and nutritional counseling, providing a comprehensive approach to wellness.

Technological advancements have played a significant role in shaping the medical spa market. Advancements in laser technology, radiofrequency devices, and other non-invasive cosmetic procedures have expanded the treatment options available at medical spas. These advancements offer effective and safe solutions for various aesthetic concerns, such as wrinkles, acne, skin tightening, and body sculpting. Medical spas invest in state-of-the-art equipment to provide the latest treatments and stay at the forefront of cosmetic advancements.

The increasing acceptance and normalization of aesthetic procedures have also contributed to the growth of the medical spa market. Aesthetic treatments that were once seen as taboo or reserved for the wealthy are now more widely accepted and accessible. Celebrities and influencers openly discuss their experiences with medical spa treatments, reducing stigma and encouraging others to explore these services. The democratization of aesthetic enhancements has led to a broader customer base for medical spas.

Regulatory factors and safety standards have also influenced the medical spa market. Medical spas operate under the supervision of licensed healthcare professionals, ensuring that treatments are performed safely and in compliance with regulatory guidelines. This oversight provides reassurance to consumers and fosters trust in the industry. Additionally, the adoption of standardized protocols and quality control measures contributes to the overall safety and credibility of medical spas.

Competitive Landscape

Through acquisitions and joint ventures, key firms increase their footprint in growing regions and broaden their service offerings on the global market.

To bring technological advancements to this service industry, market players also bolster their research and development capabilities.

For instance:

U.S. FDA approved SkinPen® Precision for the treatment of neck wrinkles in April 2021, according to an announcement made by Crown Laboratories, Inc., the US market leader in microneedling technology.
After a ceremony in Dubai, the World Spa Awards 2019 crowned Lanserhof Tegernsee the World's Best Medical Spa for the fifth consecutive year in October 2019.

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Key Segments Covered in Medical Spa Industry Research

By Service:

Skin Rejuvenation
Facial Injectable
Aesthetician Services
Body Shaping & Contouring
Hair Removal
Tattoo Removal
Others

By Age:

Adolescent
Adult
Geriatric

By Service Provider:

Single Ownership Spa
Group Ownership Spa
Free-Standing Spa
Medical Practice associated Spa

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

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This release was published on openPR.