Prevalence of skin diseases is constantly on
the rise, globally. This is constructing major health encumbrance on most
economies. A healthcare facility that is supervised by a licensed healthcare
provider, full time, is termed as a medical spa. The objective of the industry
is to offer medical education and care in a setting that includes spa
facilities as well as conventional, complementary, and/or alternative therapies
and treatments. Botox injections, anti-wrinkle and fine line reduction
therapies, acne surgery, and fillers are some of the latest laser procedures
offered at medical spas. Facials and massages are provided at conventional
spas, but in medical spas, these treatments are performed with highly
specialized lasers and instruments to permit for larger penetration of
medical-grade skin items.
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According to a report published by Persistence
Market Research, the global medical spa
market is expected to
be valued at US$ 30 Bn in 2021, and is predicted to expand at an impressive
CAGR of more than 15% over the forecast period (2021–2031).
Key Takeaways from Market
Study
- Facial injectables are expected to contribute more than
45% of the revenue share in the market by 2031, owing to their wide
availability intended to achieve one or more goals such as wrinkle
reduction and lip augmentation.
- The adult age group is expected to account for 40% of
the global market share.
- Among the service providers, single ownership spas are
contributing maximum value share for the market.
- North America holds the highest share in the global
medical spa industry, owing to the presence of big market players, high healthcare
expenditure, and increasing technological advancements and efforts in the
country.
- Key players are focused on mergers and acquisitions and
increasing technological advancements.
- The market in the U.S. is projected to be the
fastest-growing at a CAGR around 18% through 2021-2031. The U.S. holds a
big portion of global revenue and accounts for more than 90% share in the
North American market.
“Strong growth in demand for medical spas
owing to increasing consumer awareness about self-care and anti-aging services,
along with rapid expansion of the wellness tourism sector,” says an analyst of Persistence Market
Research.
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Increased Marketing & Branding to Promote
Services
Exponential growth of cosmetic procedure
advertising and marketing poses possible ethical issues as well as patient care
concerns. Rising number of cosmetic physicians use blogs and social media
networks to promote their practices. Providers strive to gain customers through
advertisements and marketing. Traditional print media, radio, television
advertisements, “advertorials” (paid editorials usually in magazines), and
digital social media advertising and marketing are all used, with the latter
being increasingly important. In this industry, celebrity endorsements, whether
direct or indirect, are extremely relevant. The med spa industry is quickly
expanding and will continue to do so at a rapid pace in the future. With this
in mind, every medical spa should focus on its brand image and raising the
responsiveness of medical aesthetic procedures, treatments, and specialist
products.
What Does the Report Cover?
Persistence Market Research offers a unique
perspective and actionable insights on the medical spa market in its latest
study, presenting historical demand assessment of 2016 – 2020 and projections
for 2021 – 2031. The research study is based on service (skin rejuvenation,
facial injectable, esthetician services, body shaping & contouring, hair
removal, scar revision, and tattoo removal), age (adolescents, adults, and
geriatric), and service provider (single ownership spas, group ownership spas,
free-standing spas, and medical practice associated spas), across seven key
regions of the world.
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in gathering appropriate feedback after getting through personalized customer
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