The Medical Spa Global Market Report 2023 by The Business Research Company, provides medical spa market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Medical Spa Global Market Report 2023, the market size grew from $14.58 billion in 2022 to $16.49 billion in 2023 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global medical spa is expected to grow to $26.72 billion in 2027 at a CAGR of 12.8%.
The rise in demand for aesthetic procedures is expected to propel the growth of the medical spa market. The aesthetic procedure refers to procedures that improve the face and body appearance. There has been a growing emphasis on the body and beauty for identity and self-expression.
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The medical spa market is segmented:
1) By Serice: Skin Rejuvenation, Facial Injectable, Body Shaping, Hair Removal, Other Services
2) By Age: Adolescent, Adult, Geriatric
3) By User: Women, Men
Technological advancement is a key trend gaining popularity in the medical spa market. Medical spa service providers are moving toward technologically advanced treatments to make the experience for customers more effective. Some of the new technological innovations in medical spas are radiofrequency body contouring, radiofrequency microneedling, BTL aesthetics emsculpt, hydrafacial or dermal infusion toning, and muscle-sculpting treatment. In January 2022, Renew Medical Aesthetics, a Wisconsin-based provider of medical spa services, launched a new range of lip filler aesthetic treatments in two options mini (half syringe) and full syringe.
The medical spa market report table of contents includes:
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