June 12, 2024

Global Medical Spa Market Is Expected To Be Flourished By Growing Demand For Noninvasive And Minimally Invasive Procedures

The global medical spa market includes a range of cosmetic medical treatments such as body shaping, hair removal, facial treatments, botox injections and other services aimed at improving appearance, well-being and health. Medical spas are designed to provide services like therapeutic massages, skin rejuvenation treatments, and other minimally-invasive cosmetic procedures in a relaxing environment. Medical spas have shifted focus from cosmetic treatments alone to overall wellness services including nutrition guidance, detoxification programs, and physical therapies.

The global Medical Spa Market is estimated to be valued at Us$ 16.58 Bn in 2024 and is expected to exhibit a CAGR Of 14.% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Growing demand for noninvasive and minimally invasive cosmetic procedures is expected to drive the global medical spa market growth over the forecast period. The increasing preference for aesthetic treatments that are less painful and require shorter recovery periods has accelerated the demand for medical spa services. Furthermore, rising health awareness and growing disposable income have fueled the adoption of various anti-aging and rejuvenation treatments offered at medical spas. Additionally, high availability of skilled professionals and technicians to perform non-surgical treatments has boosted the market growth. However, risks and complications associated with certain cosmetic procedures and high costs involved in treatments may restrain the market growth.

 

Segment Analysis

The global medical spa market can be segmented into hydromassage facilities, body shaping facilities, relaxation facilities, facial equipment, and others. The relaxation facilities segment dominated the market and accounted for over 30% market share in 2024 due to the increasing stress levels among people globally. The relaxation facilities offer services such as dry float therapy, massage therapy, and aroma therapy to reduce stress.

PEST Analysis

Political: The growth of the medical spa industry is positively influenced by the supportive government policies and regulations related to medical tourism in various countries. However, stringent regulations in some countries may hinder the market growth.

Economic: Rising income levels and growing medical tourism are fueling the demand for medical spa services globally. Additionally, increasing health awareness among consumers is augmenting the market growth.

Social: Changing lifestyles and rising awareness about wellness practices are contributing to the market growth. Moreover, growing concept of maintaining youthful appearances is driving people towards various medical spa treatments.

Technological: Incorporation of advanced technologies such as laser treatments, IPeel, Botox treatments, and microdermabrasion in spa services are enhancing the experience of customers. This is positively impacting the market growth.

Key Takeaways

The Global Medical Spa Market Demand was valued at US$ 16.58 bn in 2024 and is projected to reach US$ 37.32 bn by 2031, expanding at a CAGR of 14% during the forecast period.

Regional analysis shows that North America dominated the global market in 2024 with over 35% share owing to the growing culture of enhancing appearances and presence of major key players in the region.

Key players operating in the medical spa market are Longevity Wellness Worldwide, The Orchard Wellness Resort, Biovital Medspa, Allure Medspa, Serenity Medspa, Vichy Celestins Spa Hotel, Sha Wellness Clinic, Brenners Park-Hotel & Spa, Mezzatorre, Cocoona Centre Of Aesthetic Transformation, Lily’s Medi Spa, Aesthetics Medispa, The Drx Aesthetics, Mandarin Oriental, Westchase, Lisse, Medspa, Chiva Som, Chic La Vie,Kurotel-Longevity Medical Center and Spa, Clinique La Prairie and Lanserhof Lans. Key players are focusing on mergers, acquisitions, and partnerships to expand their businesses and gain a competitive edge in the market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it