Home Press Releases Medical Spa Market Size Worth $63.79 Billion By 2032 | CAGR: 14.6%

Medical Spa Market Size Worth $63.79 Billion By 2032 | CAGR: 14.6%

The global medical spa market size is expected to reach USD 63.79 billion by 2032, according to a new study by Polaris market research. The report “Medical Spa Market Share, Size, Trends, Industry Analysis Report, By Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal); By Age Group; By Service Provider; By Region; Segment Forecast, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Growing consumer awareness of self-care and anti-aging services, as well as the quick development of the wellness tourism industry, are some of the reasons that contribute to the market growth. This is due to several factors, including the advancement of skincare technology, an increase in disorders related to the skin, and the demand for improved medical spa treatments. The substantial demand for non-invasive procedures including chemical peels and non-surgical skin tightening, as well as body sculpting and tattoo eradication.

 

According to the Solomon Cosmetic 2022 research, Botox is unquestionably the number one non-invasive therapy in 2022. In the US, Botox is administered to more than 7.4 million patients. While considering international treatments, the market for Botox is considerably bigger at roughly USD 4.4 billion.

 

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The main focus of concern in the US is branded medical spa service providers looking to introduce novel products in order to meet updated regulatory standards. Additionally, government financing for ongoing clinical research has allowed the US to dominate the global market for medical spa services. For example, on April 2022, the FDA approved the most recent neurotoxin, Dermatox, for use in facial injections. This neurotoxin is recognized as a real game-changer for aesthetic procedures.

 

Medical Spa Market Report Highlights

  • In 2022, the market was led by the facial treatment category. The significant market position is primarily driven by the rising popularity of anti-aging treatments like Botox and dermal fillers.
  • In 2022, the Adult category lead the market due to growing adult interest in body sculpting and anti-aging therapies is the primary factor driving the industry.
    • In 2022, the single ownership segment had the largest revenue share. The primary drivers for market expansion because the small-sized, and single-location medical spa supplied with the most modern technology.
    • North America is expected to dominate the market. The region’s easy availability to a variety of services and goods for various cosmetic procedures is expected to boost market expansion even further.
    • The global players with global presence include Lily Medical and Spa, The Drx Aesthetics, Mandarin Oriental, Westchase, Lisse, Medspa, Chiva Som, and Mandarin Oriental.

 

Polaris Market Research has segmented the Medical Spa Market report based on service, age group, service provider, and region:

 

Medical Spa, Service Outlook (Revenue – USD Billion, 2019 – 2032)

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

Medical Spa, Age Group Outlook (Revenue – USD Billion, 2019 – 2032)

  • Adolescent
  • Adult
  • Geriatric

Medical Spa, Service Provider Outlook (Revenue – USD Billion, 2019 – 2032)

  • Single Ownership
  • Group Ownership
  • Free-standing
  • Medical Practice Associated Spas

Medical Spa, Regional Outlook (Revenue – USD Billion, 2019 – 2032)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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