Medical Spa Market Forecast 2023-2027 By The Business Research Company
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s medical spa market report forecasts the medical spa market size to grow to $26.72 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.
Learn More On The Medical Spa Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-spa-global-market-report
Medical Spa Market Size Forecast
The global medical spa market is expected to grow from $14.58 billion in 2022 to $16.49 billion in 2023 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical spa market size is expected to grow to $26.72 billion in 2027 at a CAGR of 12.8%.
North America held the largest medical spa market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Medical Spa Market Driver – Rise In Demand For Aesthetic Procedures
According to The American Society for Aesthetic Plastic Surgery, in 2021, facial procedures increased by 54 percent and aesthetic body procedures shot up by 63 percent from 2020. Thus, the rise in demand for aesthetic procedures will drive the medical spa market.
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Key Medical Spa Market Trend – Technological Advancement
Medical spa service providers are moving toward technologically advanced treatments to make the experience for customers more effective. Some of the new technological innovations in medical spas are radiofrequency body contouring, radiofrequency microneedling, BTL aesthetics emsculpt, hydrafacial or dermal infusion toning, and muscle-sculpting treatment. In January 2022, Renew Medical Aesthetics, a Wisconsin-based provider of medical spa services, launched a new range of lip filler aesthetic treatments in two options mini (half syringe) and full syringe.
Medical Spa Market Segment
1) By Serice: Skin Rejuvenation, Facial Injectable, Body Shaping, Hair Removal, Other Services
2) By Age: Adolescent, Adult, Geriatric
3) By User: Women, Men
Medical Spa Market Major Players and Strategies
Major players in the medical spa market are Allure MedSpa, ?Chic La Vie, Clinique La Prairie, Biovital MedSpa LLC, Canyon Ranch, Hyatt Corporation, True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa, Westchase Medspa LLC, Kurotel Longevity Medical Center and Spa, Sha Wellness Clinic, Cocoon Medical Spa, Dermani Medspa, Spa Vitoria, and Bijoux Medi-Spa.
In October 2021, Laser MD Medspa, a US-based premier medical spa services company acquired Young Medical Spa for an undisclosed amount. As a result of this acquisition, Laser MD Medspa is planning to grow its business in four locations across Pennsylvania. The company is also focusing on expanding its business footprint in more than 15 locations within the northeastern and Mid-Atlantic regions of the USA. Young Medica Spa is a USA-based provider of medical spa services.
The Medical Spa Global Market Report 2023 covers regional data on medical spa market size, medical spa market trends and drivers, opportunities, strategies, and medical spa market competitor analysis. The countries covered in the medical spa market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Medical spa refers to a unique combination of medicine and aesthetics that offers high-quality cosmetic treatments in a pleasant and soothing setting that are medically advised and overseen. These therapies are aesthetic and are primarily used to rejuvenate or enhance a person’s appearance.
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