According to a study published by Insure Insights, the global medical spas market is estimated to grow at a CAGR of 14.4% during the forecast period.  Medical spas are the combination of medical procedures normally performed in a doctor’s office with a day spa experience. It is also referred to as medi-spas or medspas. Medical spas can help treat various problems, such as sun damage, acne, and cellulite. Many medical spas offer traditional spa amenities, such as facials. Other treatments, such as vein treatment, laser skin rejuvenation, chemical peels, laser hair removal, and others, are also offered by medical spas. Medical spas are helpful in achieving non-surgical cosmetic changes with the support of a trained professional and the comfort of a spa. Services generally take less than an hour and require limited recovery time after services are completed.

Top Driver: The Increasing Adoption of Cosmetic Treatment and Medicines for Beauty Enhancement

The increasing adoption of cosmetic treatment and medicines for beauty enhancement in developed countries is the primary driver propelling the growth of the global medical spas market. Other factors such as a rise in the number of skin-related diseases, technological advancement in skincare devices, an increase in demand for better medical spa services, and growth in the aging population are stimulating the growth of the market. In addition to this, the growth of medical tourism in developing economies, such as India, Brazil, China, and Singapore, is likely to create lucrative opportunities for the global medical spa market. On the other hand, the high cost associated with medical spas procedures and lack of skilled professionals is estimated to hamper the growth.

Facial Treatment Segment Anticipated to Grow at Significant Pace

The market can be classified into tattoo removal, facial treatment, hair removal, scars and striae, body shaping, and others based on the service. The facial treatment and hair removal segments are estimated to grow significantly during the forecast period. A significant driver of the segment is the growing awareness among people concerning the enhancement of self-appearance. In addition to this, novel facial treatments delivered in medical spas, such as HydraFacial MD, ultrasonic fountain, nature signature facial, oxygen facial, and derma wave are also fueling the growth of the segments.

  Developed Health Care Infrastructure and Rapid Adoption of Novel Medical Spa Techniques to Benefit North America Market

The global medical spa market is segmented into North America, Europe, Asia Pacific, and SAMEA based on geography. North America is estimated to hold the largest share of the global medical spa market during the forecast period. Major factors boosting the growth of the market in the region are growing awareness among people concerning the possible benefits of medical spa treatment procedures, developed health care infrastructure supported by reimbursement policies, and rapid adoption of novel medical spa techniques. Following North America, the global medical spa market is expected to be dominated by Europe and the Asia Pacific. An increase in investment in research and development, the presence of prominent players, and collaboration among market players are few factors driving the global medical spa market.

Players to Focus on Expanding Applications in Complex Computing, Healthcare, Finance

The global medical spa market is estimated to stay fragmented during the forecast period owing to the possible new entrants. The major market players operating in the market are Chic La Vie; Clinique La Prairie; Kurotel – Longevity Medical Center and Spa; Lanserhof Lans; The Orchard Wellness Resort; BIOVITAL MEDSPA; Allure MedSpa; and Longevity Wellness Worldwide.

Intel: In September 2018, Bliss, a manufacturer of spa and beauty products, introduced Medical spa services in their New York locations. Bliss collaborated with Ideal Image, a provider of laser hair removal and aesthetic services, to further incorporate aesthetic services in their Manhattan locations.

Scope of the Report

By Service

• Tattoo removal
• Facial treatment
• Hair removal
• Scars and striae
• Body shaping
• Others

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.