Global medical spa market to reach $25.9 billion by 2026
DUBLIN, August 5, 2022 /PRNewswire/ — The “Medical Spa – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.
Global medical spa market to reach US$25.9 billion by 2026
Medical Spa, also known as MedSpa, is a leading contemporary provider of a wide range of therapies ranging from Botox treatments and liposuction to hair regeneration and hair removal. They are the latest niche in cosmetic surgery and medicine, and arguably the fastest growing segment of the global cosmetic surgery market. The medical part of the MedSpa is ensured by the presence of a specialized medical practitioner who must always be present on the premises.
Since medical spas converge spa treatments and medical treatments, they offer the widest range of services possible. As medical spas emerge, they are rapidly gaining popularity among those who are financially well-disposed and have a penchant for beauty and wellness. Their success has created quite a stir, encouraging corporations, large hospital chains and major pharmaceutical companies to invest funds in various MedSpas.
Over the years, advancements in technology have played a major role in shaping the MedSpa industry, not only increasing the availability of treatments, but also making non-invasive treatments (eg Botox) more affordable. Digital technology is currently one of the main growth drivers for medical spas and is expected to remain so for years to come as technology allows people to look younger without undergoing painful procedures.
Amid COVID-19 crisis, Global Medical Spa Market Estimated at US$14.4 billion in 2022, is expected to reach a revised size of US$25.9 billion by 2026, growing at a CAGR of 13.5% over the analysis period.
The US market is estimated at $5.4 billion in 2022, when China is expected to reach $3.8 billion by 2026
The Medical Spa market in the United States is estimated at US$5.4 billion in 2022. The country currently accounts for a 37.72% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$3.8 billion in 2026 with a CAGR of 18.2% over the analysis period. Other notable geographic markets include Japan and Canadaeach predicting growth of 10.3% and 12.2% respectively over the analysis period.
Hair removal segment to reach $3.8 billion by 2026
The growing acceptance of professional hair removal services is driving the medical spa market. Hair removal technologies offer women and men convenient and effective options for removing hair from specific parts of the body for natural, hair-free skin. Continuous advancements in these technologies have resulted in sophisticated products that work for different skin types and hair colors.
- Aesthetic Medispa
- Allure Medical Spa
- Medi-Spa Jewelry
- Biovital Medspa, LLC
- Canyon Ranch, Inc.
- Chic la Vie Med Spa
- Chiva Som
- La Prairie Clinic
- Cynosure, Inc.
- Hyatt Corporation
- Lanserhof Lans
- Lily’s Medi Spa
- Lumenis, Ltd.
- Mandarin Oriental Hotel Group Limited
- Sciton, Inc.
- Serenity Medical Spa
- Sha Wellness Clinic
- Syneron Candela Medical
- The DRx Clinic
- Real skin care center
- Vilalara Longevity Thalassa & Medical Spa
- Westchase Medspa, LLC
Main topics covered:
1. MARKET OVERVIEW
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND DRIVERS
- Growing popularity of beauty and wellness tourism and post-pandemic optimism for an auspicious recovery for medical spas
- Efforts to push beauty and wellness tourism, a boon for medical spas
- Beauty and wellness tourism will reach greater heights in the post-pandemic era
- The Rise of Traditional Holistic Medicine Encourages Medical Spas to Focus on Alternative Health
- Medical spas are incorporating herbs into all aspects of the spa experience, encouraged by growing consumer acceptance of herbal medicines
- The high acceptance of herbal medicines is leading medical spas to incorporate herbs into the entire treatment experience
- The desire to look youthful among the world’s rapidly aging population is driving demand for anti-aging services and treatments at medical spas
- The rapid aging of the population highlights the potential for massive demand for anti-aging treatments
- Robust growth in spending on anti-aging solutions to support the rise of anti-aging medical spas
- Rising demand for aesthetic services illuminates prospects for non-invasive and minimally invasive medical spa treatments
- Medical spas expand services to include dermal fillers and Botox treatment, spurred by strong demand
- Soaring demand for cosmetic procedures amid the pandemic bodes well for market growth
- Thalassotherapy harnesses the healing properties of seawater to provide holistic spa treatments
- Growing acceptance of male aesthetics presents untapped opportunities for growth
- The importance of mental well-being and stress management in the aftermath of the pandemic in triggering demand for spa therapy
- Hair removal, a popular service offering in medical spas
4. GLOBAL MARKET OUTLOOK
III. MARKET ANALYSIS
For more information on this report, visit https://www.researchandmarkets.com/r/9hhjs8
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