According to the report published by MarketDataForecast, the global Medical Spa Market was valued at USD 13.54 Billion in 2022 and is projected to reach USD 25.19 Billion by 2027 at a CAGR of 13.22% during the forecast period. forecast.
Medical spas, also called Medi-spas. It is the combination of certain medical procedures performed by doctors. Medical spa treatments can include treatment methods for lines, wrinkles, laser hair removal treatments and sun spots. Additionally, medical spa services include weight loss and stress reduction programs, health checkups, and beauty treatments. A medical spa is for both men and women. Medical spas are an easy way to achieve non-surgical cosmetic enhancements with the comfort of a trained professional. These services take less than an hour and require limited recovery time once the services are complete.
Covid-19 has affected all industries around the world. Many initiatives are focused on the development of vaccines and devices related to the covid-19 pandemic. COVID-19 has increased public understanding of the importance of health and wellness, but at the same time the pandemic has caused spas and wellness centers to close. As a result, supply and demand have changed in recent years. After the lockdowns are lifted, many medical spas or medical spas across the country are looking to cash in on the beauty procedure trend.
One of the driving forces behind the evolution of the medical spa market is the increase in anti-aging treatments.
Aging is because the skin naturally becomes less elastic and more fragile, and the decreased production of natural oils dries out your skin and makes it appear more wrinkled. The most common signs of skin aging are fine lines and wrinkles. Anti-aging treatments are designed to brighten dull skin and make it look younger. Anti-aging facials can also be a great way to improve skin tone and reduce the appearance of wrinkles.
Rise in cosmetic treatments and cosmetic drugs is further expected to drive the medical spa market.
Medical spas combine medicine and aesthetics to provide cosmetic treatments in a spa environment. Treatments such as acne treatment, botox injections, and laser treatments are types of cosmetic treatments. These therapies are intended to improve an individual’s appearance. Additionally, the World Health Organization (WHO) has released a training manual that aims to make it easier for healthcare professionals to recognize the visual symptoms and indicators of neglected tropical skin diseases and other skin conditions. common. Nearly 900 million people worldwide are currently affected by skin conditions.
Booming new technologies provide opportunities for commercial expansion of the medical spa market.
The use of advanced technology in medical spa treatments has increased its appeal to consumers. Companies in the medical spa industry have automated parts of their business processes using machine learning and artificial intelligence (AI) (ML). For example, some companies have developed booking software that allows customers to independently identify available appointment times. Medical spas can improve customer satisfaction, increase customer service efficiency, and reduce error rates with AI. Employees can create customer accounts on smart desktop apps and save essential customer data such as contact details, medical history and payment details. Medical spas are designed to treat more clients with fewer devices and address multiple skin care concerns simultaneously. Purchasing power belongs to the younger and middle-aged generations. The International Society for Aesthetic Plastic Surgery reported in 2019 that it had a higher propensity to view medical spas as a chance for “digital detox.”
On the other hand, the major impediment to market growth is the high cost of treatments. Since equipment costs are high and technology is constantly changing, continuous upgrades are required. Also, lack of skilled professionals and low salaries are the challenges facing the market.
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ANALYSIS OF THE DIFFERENT SEGMENTS INVOLVED IN THE MEDICAL SPA MARKET:
The facial care segment holds the highest market share based on services. Dermaplaning is a simple and frequently used technique. This treatment helps the regeneration of the upper layers of the skin. Plus, it removes accumulated dead skin, dirt, and makeup. Another fantastic technology that manually exfoliates dead skin is microdermabrasion. The latest technologies, such as Advanced Serum Infusion Facial and RF Microneedling for Skin Tightening & Rejuvenation, are advanced facial treatments.
Based on end-user, women segment held the largest global medical spa market share in 2021. Medical spas can treat and help various problems, such as acne, cellulite, damage by the sun, non-surgical skin tightening, body sculpting and tattoo removal. Moreover, laser hair removal is also one of the main treatments that women take in a medical spa.
North America dominated the global medical spa market in 2021, owing to the presence of key players and increasing government funding. The United States dominates the North American market. The most popular minimally invasive cosmetic procedure performed in the United States is Botox. Up to 50 million Americans suffer from acne each year, making it the most common skin condition in the country. Many teenagers and young adults suffer from acne, which often begins during menstruation. Between the ages of 12 and 24, 85% of people develop at least moderate acne. The American Med Spa Association (AmSpa), the only group in the United States that provides legal and business resources for medical spas and aesthetic services, in 2018.
The Asia-Pacific region is expected to have the fastest growing CAGR during the forecast period due to medical tourism, increasing wellness tourism spending and increasing health tourism spending. welfare. 2021 will see Clinique La Prairie Bangkok’s flagship product upgraded with new medical wellness technologies and procedures. These treatments complement existing beauty and wellness solutions already available, such as signature healing therapies and high-tech cellular treatments for face and body. India is a very populated country. The growing influence of social media is increasing the focus on self-improvement in the ket. Hence, the need for medical spas is expected to increase as Indian population’s focus on fitness and wellness increases.
Key Market Players in Medical Spas Market:
Kurotel – Medical Center and Longevity Spa
Biovital Medical Spa
Allure Medical Spa
Serenity Medical Spa
Hotel Spa Vichy Celestins
Brenners Park-Hotel & Spa
Sha Wellness Clinic
Cocoona Aesthetic Transformation Center
Mezzatorre Resort & Spa
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