Medical Spa Market Size, Share & Trends Analysis Report By Service (Facial Treatment, Body Shaping & Contouring), By Age Group, By Gender, By Service Provider, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global medical spa market size was valued at USD 16.4 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 14.97% from 2023 to 2030. The market growth can be attributed to factors such as increasing consumer awareness about self-care and anti-aging services and a rapid expansion of the wellness tourism sector. According to the American Med Spa Association (AMSA), there is a high demand for minimally invasive treatments, such as chemical peels and non-surgical skin tightening, along with body sculpting and tattoo removal. Moreover, wellness packages offered in hotels create a fast-growing demand for wellness-themed vacations.

The medical spa has been shaped by constantly changing customer demands. With customers becoming more social media savvy, awareness about anti-aging solutions is on the rise. Increasing demand for anti-aging skincare solutions remains the key driver in this market. According to the 2021 plastic surgery statistics by the American Society of Plastic Surgeons, people aged 30 to 39 accounted for 45% of cosmetic surgeries in the U.S., with 6.1 million total cosmetic procedures, including 684,000 surgical procedures and 5.4 million minimally invasive surgeries.

The rising consumer disposable income, especially in emerging countries, and the expansion of the tourism sector are also boosting the demand for such services. Key companies offer personalized beauty treatments to justify premium prices and aim to leverage their position. An emerging trend in the sector is the incorporation of biophilic design and wellness architecture into the complete structural design of the property.

COVID-19 Medical Spa Market Impact: 13.8% increase from 2020 to 2021

Rapid growth in the wellness tourism industry is creating potential growth opportunities for new entrants that offer a unique integration of business areas, such as hospitality, travel, beauty treatments, and fitness. Furthermore, the increasing adoption of dermal fillers among women in their late 20s and the rising demand for laser hair removal and facial procedures are likely to fuel the market growth.

Age Group Insights

The adult segment dominated the market in 2022. The majority of the medspas have their customers in their mid-30s, 40s, and 50s due to the increasing focus of adults on body contouring and anti-aging treatments. Nearly 26.0% of all the female customers in the U.S. belonged to the age group of 35-54 as per the 2022 AmSpa Medical Spa State of the Industry Report. The high spending capacity of people aged 35 to 50 and increasing demand for dermal fillers among this age group are propelling the segment's growth.

The high influence of social media is increasing the demand for facial treatments among adolescents. Teenagers are increasingly incorporating anti-aging products and treatments into their beauty regimes. Moreover, they want scar-less skin permanently and are opting for nonsurgical scar revisions.

The geriatric segment is estimated to witness substantial growth during the forecast period. As per WHO, the share of people aged above 60 will increase to 1.4 billion by 2030. The desire to look young and attractive even in old age is favoring the growth of the geriatric segment. People aged above 60 are more interested in maintaining a healthy lifestyle, which leads to an increase in the number of medspa visits.

Gender Insights

The female segment accounted for the largest revenue share in 2022. Women being the primary customers, various women-oriented services are being increasingly designed, which is positively impacting segment growth. The rising adoption of various esthetic treatments by females is boosting segment growth. As per The Aesthetic Society 2021, women accounted for approximately 94.0% of all esthetic procedures.

Women use spa services to boost physical happiness and self-esteem as well as gain self-confidence. Many women want to enhance their facial appearance, which has resulted in an increased number of visits for Botox and dermal injections. According to the AmSpa 2022 Medical Spa State of the Industry Report, in the U.S., around 88.0% of medspa goers were females.

The male segment is expected to witness lucrative growth during the forecast period. The adoption of medical spa services among men has increased as they have realized that these treatments are healthy and relaxing. As a result, the industry is developing skin care products and services focused on men. An increasing number of male customers and the development of targeted market strategies for males are likely to boost segment growth.

Service Provider Insights

The single ownership segment held the largest revenue share in 2022. According to American Med Spa Association report estimates, over 66% of the medical spas were under single ownership, employing eight employees on average. Around 63% of these are owned by non-MDs/surgeons.

The industry is dominated by single-owned, small-sized, and single-location medical spa facilities equipped with the latest technology. In addition, rising burnout rates and decreasing reimbursement rates are driving more physicians to either become medical spa directors or the sole owners or co-owners of the facility.

Medical practice-associated spas are offering an integrated, holistic healthcare and wellness approach coupled with the involvement of highly-skilled and experienced practitioners. These facilities align their wellness therapies and treatments with other specialties of the hospital, offering integrated care. Hence, such facilities are witnessing high demand in recent years.

Service Insights

The facial treatment segment dominated the market with a revenue share of over 50.0% in 2022. The dominant share of the segment is mainly attributed to the increasing demand for antiaging treatment options such as Botox and dermal fillers. According to ISAPS, botulinum toxin and hyaluronic acid injections were among the top non-surgical aesthetic procedures globally. In 2020, a total of 6,213,859 botulinum toxin and 4,053,016 hyaluronic acid procedures were performed worldwide.

The body shaping and contouring segment are anticipated to witness the fastest growth during the forecast period. Noninvasive fat reduction procedures are anticipated to surpass surgical methods such as liposuction. According to the American Med Spa Association’s 2017 State of the Medical Spa Industry report, 54.07% of medical spas in the U.S. offer body contouring services. Advancements in energy-based minimally invasive devices perfectly fit within the medspa model and are anticipated to open new opportunities for aesthetic enhancement.

The medical spa includes high revenue-generating treatment services, the cost of which continues to rise. For instance, according to the Supplement to Modern Aesthetics by the American Med Spa Association, the average price of laser hair removal in the U.S. rose by around 51% in 2016 than in 2011, whereas the cost of tattoo removal increased by 42%. This trend is supported by increasing out-of-pocket expenditure worldwide, thereby propelling the market growth.

Regional Insights

North America dominated the market with a share of over 40.0% in 2022 owing to higher expenditure on wellness tourism (domestic and international traffic) than other regions. The easy availability of different services and products for various aesthetic procedures in the U.S. and Canada is expected to further boost market growth. However, in 2020, the sudden onset of the COVID-19 pandemic led to a decrease in the number of aesthetic surgeries, which may hamper the growth of the market in the region.

Asia Pacific is anticipated to register the highest CAGR over the forecast period due to the increasing popularity and growth of the wellness tourism sector and rising wellness tourism expenditure. Increasing interest in experiential travel and the growing affordability of flights and travel options will drive the regional market further.

The presence of various large and small players and an increasing presence of global players are anticipated to promote the growth of the market in the Asia Pacific. In June 2021, Clinique La Prairie launched a new medical menu at its Bangkok Medical Spa & Aesthetics destination. In March 2021, the company partnered with St. Regis Bangkok owned by Minor Hotels to open a new medical spa facility.

Key Companies & Market Share Insights

Product and service development using novel technology, partnerships with other firms, outlet expansion, and business investments are some of the strategies undertaken by these companies to strengthen their market position. For instance, in November 2021, Chic La Vie launched a Botox skin rejuvenating procedure for men aimed at starting a new revolution where skin rejuvenating spa procedures will not be limited to females only.

In August 2019, Longevity Health & Wellness Hotel expanded its service unit in Portugal. The spa center is equipped with advanced wellness and preventative diagnostics, therapies and programs, and modern integrative and regenerative medicine.

In September 2018, Bliss, a manufacturer of spa and beauty products, launched 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 its Manhattan locations. Some prominent players in the global 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

• Serenity Medspa

• Vichy Celestins Spa Hotel

• Brenners Park-Hotel & Spa

• Sha Wellness Clinic

• Cocoona Centre of Aesthetic Transformation

• Mezzatorre

• Aesthetics Medispa

• Lily's Medi Spa

• Lisse

• DRX Clinic

• Westchase Medspa

• Chiva Som

• Mandarin Oriental Hotel Group Limited

Medical Spa Market Report Scope

Global Medical Spa Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global medical spa market report based on service, age group, gender, service provider, and region:

• Service Outlook (Revenue, USD Million, 2018 - 2030)

  • Facial Treatment

  • Body Shaping & Contouring

  • Hair Removal

  • Scar Revision

  • Tattoo Removal

  • Other Services

• Age Group Outlook (Revenue, USD Million, 2018 - 2030)

  • Adolescent

  • Adult

  • Geriatric

• Gender Outlook (Revenue, USD Million, 2018 - 2030)

  • Male

  • Female

• Service Provider Outlook (Revenue, USD Million, 2018 - 2030)

  • Single Ownership

  • Group Ownership

  • Free-standing

  • Medical Practice Associated Spas

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • India

    • Australia

    • China

    • Thailand

    • Indonesia

    • South Korea

    • Malaysia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait