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Report
Medical Spa - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The Medical Spa Market has generated a revenue of USD 15.43 billion in the current year and is poised to grow at a CAGR of greater than 6.2% during the forecast period.
The medical spa industry has been steadily growing over the past decade, driven by increasing consumer demand for non-surgical cosmetic procedures, wellness treatments, and anti-aging solutions. Non-surgical procedures such as Botox injections, dermal fillers, laser hair removal, chemical peels, and microdermabrasion are some of the most sought-after treatments in medical spas. These procedures provide less invasive alternatives to surgical treatments and often require little to no downtime.
Medical spas not only offer cosmetic procedures but also emphasize overall wellness. They may provide services like massage therapy, acupuncture, nutritional counseling, and stress management programs. One of the differentiating factors of medical spas is the presence of licensed healthcare professionals, such as doctors, nurses, and aestheticians, who oversee and administer the treatments. This ensures a higher level of safety and expertise compared to traditional spas.
Many medical spas were temporarily closed or operated at reduced capacity during the height of the pandemic due to lockdowns, social distancing measures, and restrictions on non-essential services. This led to a significant decline in consumer demand for medical spa treatments and services. During the pandemic, people's priorities shifted towards health and safety concerns, and elective procedures often took a backseat. Non-essential cosmetic treatments typically offered by medical spas, such as injectables, laser treatments, and facials, were largely postponed or canceled as individuals focused on essential healthcare needs.
Medical Spa Market Trends
Increasing Demand for Non-Invasive Cosmetic Procedures
In recent years, there has been an increase in demand for non-invasive cosmetic operations, and this trend is anticipated to continue during the projection period. Many people are drawn to non-invasive cosmetic procedures because they provide a means to improve look without surgery or a drawn-out recovery period. These treatments are frequently less expensive and dangerous than surgical procedures, making them a common option for those looking to enhance their looks.
Injectables like botox and fillers, laser treatments, and skin rejuvenation procedures like microdermabrasion and chemical peels are all offered by some of the most well-known non-invasive medical spas. These procedures aim to improve skin quality, lessen aging symptoms, and treat a range of skin issues include acne, uneven skin tone, and UV damage. As a result, a major factor in the expansion of the medical spa industry is the surge in demand for minimally invasive procedures.
Growth in Popularity of Wellness and Self Care Among Individuals
The emphasis on wellness and self-care among people has been advantageous for the medical spa industry. People are increasingly searching for noninvasive cosmetic procedures to help them appear their best as they become more concerned with living a healthy and balanced lifestyle. They tend to favor procedures that enhance their looks and make them feel calm and refreshed.
Medical spas provide a variety of services that make people feel pampered and rejuvenated, like body wraps and massage therapy. In addition, people are becoming more conscious of the value of maintaining good skin health and appearance.
Medical spas provide a variety of services and goods, including chemical peels and medical-grade skincare products including retinoids, vitamin C serums, and hyaluronic acid serums. These assist people in enhancing their physical appearance and skin health, which is anticipated to boost the growth of the medical spa industry.
Medical Spa Industry Overview
The report covers the major players operating in medical spa market. The market is fragmented, and the market is expected to grow during the forecast period due to social media and celebrity influence, increase in disposable income and many other factors driving the market. Some prominent players include Qazi Cosmetic Clinic, Willow Med Spa, The Biomed Spa, Beauty Fix, and Nassif Medical Spa.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Social Media and Celebrity Influence
4.2.2 Increasing Disposable Income
4.3 Market Restraints
4.3.1 Cost of Services is a Restraining Factor for the Market
4.3.2 Limited Insurance Coverage is Restraining the Market
4.4 Market Opportunities
4.4.1 Targeting Male Clients
4.4.2 Collaboration with Medical Professionals
4.5 Industry Attractiveness - Porters' Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Services
5.1.1 Facial Treatment
5.1.2 Body Shaping and Contouring
5.1.3 Laser Hair Removal
5.1.4 Tattoo Removal
5.1.5 Scars & Striae
5.1.6 Other Services
5.2 By End User
5.2.1 Male
5.2.2 Female
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Qazi Cosmetic Clinic
6.2.2 Willow Med Spa
6.2.3 The Biomed Spa
6.2.4 Beauty Fix
6.2.5 Nassif Medical Spa
6.2.6 Canyon Ranch
6.2.7 Clinique La Prairie
6.2.8 Four Seasons Hotels and Resorts
6.2.9 Cocoon Medical Spa
6.2.10 Hilton*
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