With the rapid advancement in medical technology and rising awareness among the population regarding skincare. With the surging demand for non-invasive skin treatments and the continuous launches of the product by the major players have a significant impact on the medical spa industry. For instance, In 2022, Maya Medi Spa launched BTL EMSCULPT- technology that is approved by FDA that strengthens your muscle & burn fat. It is a non-invasive body-shaping procedure that simultaneously addresses both Muscle and Fat and it helps patients build muscle and sculpt the body. EMSCULP targets the Abdomen, Butt Lift, Biceps, Triceps, Calves & Thighs and it is painless, with no anesthesia and no needles are required.
According to UnivDatos Market Insights (UMI)’ research report “Global Medical Spa Market Analysis, 2021”, the market is projected to grow at a CAGR of ~13% during 2021-27F. The increasing prevalence of alopecia and other hair loss conditions along with the rising adult population is one of the major reasons of concern across the globe owing to the significant growth of the medical spa market.
Based on the service type, the market is segmented into facial treatment, body shaping & contouring, hair removal, scar revision, tattoo removal, and others. The facial treatment sheld a significant market share in 2020 and is anticipated to witness lucrative market growth during the forecast period. This is mainly due to the availability of different facial treatments such as chemical peel-offs, steam treatments, and facial massages. Furthermore, the factors such as celebrity endorsements and social media accelerate the market growth of the segment. The tattoo removal segment is also expected to witness robust growth due to the increasing trend of tattoo printing and the associated errors is responsible for the segmental growth in the forecast period.
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Adult Segment to Witness Robust growth
Based on age, the market is segmented into adults, adolescents, and geriatrics. The adult grabbed a significant market share in the medical spa market in 2020. This is mainly due to the social influence on beauty and personal care along with the changing hormone levels among the adults are responsible for different skin problems such as acne, dark spots, wrinkles, and others. For instance, as per AAD, Acne occurring in adults is increasing, affecting up to 15 percent of women.
North America to Grab Lion’s Share, and witnessed Explicit Growth
Based on the region, North America dominated the global Medical Spa market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the well-established market players and frequent product launches. North America is expected to skyrocket with a robust CAGR during the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Medical Spa Market Analysis, 2021”.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Medical Spa Market include Chic La Vie, Clinique La Prairie, Kurotel - Longevity Medical Center and Spa, Lanserhof Lans, The Orchard Wellness Resort, Biovital Medspa, Allure Medspa, Longevity Wellness Worldwide, and Serenity Medsp., among others. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
“Global Medical Spa Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Medical Spa providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Service Type (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal, and Others)
2. By Age (Adults, Adolescents, and Geriatrics)
3. By Region (North America, Europe, Asia-Pacific, Rest of the World)
4. By Company (Chic La Vie, Clinique La Prairie, Kurotel - Longevity Medical Center and Spa, Lanserhof Lans, The Orchard Wellness Resort, Biovital Medspa, Allure Medspa, Longevity Wellness Worldwide, and Serenity Medspa., etc.)
Key questions answered in the study:
1. What are the current and future trends in the medical spa industry?
2. How the industry has been evolving in terms of service type and age?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the medical spa industry?
5. What is the customer orientation, purchase behavior, and expectations from the medical spa firms across various regions?
Table of Content –
1. MARKET INTRODUCTION
2. RESEARCH METHODOLOGY OR ASSUMPTION
3. MARKET SYNOPSIS
4. EXECUTIVE SUMMARY
5. GLOBAL MEDICAL SPA MARKET COVID-19 IMPACT
6. GLOBAL MEDICAL SPA MARKET REVENUE, 2019-2027F
7. MARKET INSIGHTS BY SERVICE TYPE
8. MARKET INSIGHTS BY AGE
9. MARKET INSIGHTS BY REGION
10. MEDICAL SPA MARKET DYNAMICS
11. MEDICAL SPA MARKET OPPORTUNITIES
12. MEDICAL SPA MARKET TRENDS
13. LEGAL & REGULATORY FRAMEWORK
14. DEMAND AND SUPPLY-SIDE ANALYSIS
15. VALUE CHAIN ANALYSIS
16. COMPETITIVE SCENARIO
17. COMPANY PROFILED
18. DISCLAIMER
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