Medical Spa Market

Global Medical Spa Market Size (2024 to 2029)

The global medical spa market is estimated to grow to USD 32.27 billion by 2029 from USD 17.35 billion in 2024, expanding at a CAGR of 13.22% during the forecast period.

Medical spas combine a spa's relaxing and calming experience and the treatment of many skin-related problems and cosmetic skin care under medical guidance. The medical spas perform skin treatments and enhancements using medical equipment and formulations. For example, the professionals at what is also called medispa inject botox, anti-aging medicine, fillers for better features, acne removal, pimples, and blemishes treatment, and overall ensure healthy and glowing skin with dermatological assistance and supervision. These medical spas also provide serums and creams for skin care.

MARKET DRIVERS

The growing geriatric population, along with the rising awareness about self-care and the need for aesthetic beauty care, especially among the women of the 30-40 age group, are majorly promoting the growth of the medical spa market.

The increase in the popularity of non-invasive and minimally invasive surgeries is also anticipated to drive the growth of the medical spa market. As a result, procedures such as tattoo removal, skin tightening, body sculpting, fat reduction, and others are becoming increasingly popular among the population. Furthermore, in the era of the rise of social media, the generation is becoming more aware and concerned about their external appearance and maintaining themselves, consequently leading to market growth. In addition to the above points, the increasing disposable incomes on the rising prices for treatments are propelling the market growth. For instance, the prices for laser hair removal increased by 51% in 2016 from 2016. additionally, spa packages by hotels and expanding medical tourism market also support the market's prominence.

Growing technological advancements and increasing procedures to boost the medical spa market growth.

Medical spas are continuously developing based on consumer reviews and needs. The innovative new technologies like laser technology, ultra-therapy, and fillers, along with the wide range of treatments offered by medispas such as injectable treatments, biophilic design, cryolipolysis, abdominoplasty, red light therapy, and others, are driving markets growth. In addition, the rising cases of people opting for plastic surgery are leading to market development. For example, the American Society of plastic surgeons shows that around 6.1 million cosmetic procedures occur annually. Furthermore, personalized beauty treatments and attractive discount offers by beauty companies on various products have increased the market.

MARKET RESTRAINTS

The high costs of professionals and treatment procedures, along with the low demand and awareness about self-care in low-economic countries, are expected to restrain the growth of the medical spa market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Medical Spa Market Analysis By Service

Based on the service, the facial treatment segment is expected to dominate the medical spa market during the forecast period due to the rising demand for facial cosmetic treatments and better beauty and aesthetic appearances, especially by enhancing facial features. In addition, hyaluronic acid and botulinum toxin are rising due to the high demand for anti-aging treatments and making the skin look more youthful and wrinkle-free. Furthermore, another part of appearance that is expected to be maintained to be deemed beautiful aside from the face is the body. Therefore, the body shaping and contouring market are also expected to grow during the forecast period. as more people look for options for reducing body fat through minimally invasive techniques without going through surgeries like liposuction are preferring medical spa treatments. Therefore, the market is expected to be dominated by these two segments.

REGIONAL ANALYSIS

Due to higher domestic and international spending on wellness tourism than in other areas, North America held most of the market in 2023. In addition, the market is anticipated to be boosted by the simple accessibility of various services and items for various aesthetic operations in the United States and Canada. The unexpected commencement of the COVID-19 pandemic in 2021, however, resulted in a decline in the number of cosmetic procedures, which may impede the expansion of the market in the North American region. Nevertheless, this region is expected to continue dominating the market during the forecast period. This dominance is ascribed to rising self-awareness about beauty, a significant rise in the baby boomer generation, the use of cutting-edge medical procedures, and increasing healthcare costs in the area. 

Due to the increased demand for wellness tourism, the expansion of the wellness tourism market in this region, and rising wellness travel expenses, Asia Pacific is expected to see the most significant CAGR throughout the projected period. In addition, the regional market will be further fueled by rising demand for experiencing travel and rising airfare and lodging costs in countries like China, India, Japan, South Korea, etc. The market growth in the Asia Pacific is due to the existence of numerous large and small businesses and an expanding number of international players. For instance, a new medical menu was introduced by Clinique La Prairie in June 2021 at its Bangkok Medical Spa & Aesthetics location. In addition, the business collaborated with Minor Hotels' St. Regis Bangkok to launch a brand-new medical spa facility in March 2023. This region contributes significantly to the global market because of its high rate of population aging, rise in disposable incomes, and establishment of numerous spas providing a wide range of medical treatments. India and China are additionally anticipated to have rapid CAGR growth in the Asia-Pacific medical spa market.

KEY MARKET PARTICIPANTS

Lanserhof Tegernsee, ‎Chic La Vie, SHA Wellness Clinic, Dermani Medspa, Crown Aesthetics, Willow Medspa, Allure MedSpa, Cienega Med Spa, Inc., and Clinique La Prairie are  few of the leading companies in the global medical spa market and profiled in this report.

DETAILED SEGMENTATION OF THE GLOBAL MEDICAL SPA MARKET INCLUDED IN THIS REPORT

This research report on the global medical spa market has been segmented and sub-segmented based on service, end-user, and region.

By Service

• Facial Treatment
• Body Shaping & Contouring
• Hair Removal
• Scar Revision
• Tattoo Removal

By End-User

• Men
• Women

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa