The global medical spa market size was valued at around USD 12 billion in 2018 and is expected to register a CAGR of 13.8% over the forecast period. The market growth can be attributed to factors, such as increasing consumer awareness about self-care and anti-aging services along with 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 vacation.
Moreover, rising consumer disposable income, especially in emerging countries, and expansion of tourism sector are also boosting the demand for such services. Key companies offer personalized medical spa treatments and aim to strengthen their market position to justify premium prices. An emerging trend in the sector is the incorporation of biophilic design, wellness architecture into the complete structural design of the property.
Rapid growth in the wellness tourism market is creating potential growth opportunities for new entrants that offer a unique integration of business areas, such as hospitality, travel, spa, and fitness. North America was the dominant regional market in 2018 due to technological advancements and increasing number of new entrants in the medical spa industry. However, Asia Pacific is anticipated to witness the fastest CAGR from 2019 to 2025 owing to the presence of a well-established beauty market.
Based on service, the medical spa market is segmented into facial treatment, body shaping & contouring, hair removal, scar revision, tattoo removal, and others. Facial treatment led the market in 2018. However, body shaping and contouring is anticipated to witness the fastest CAGR over the forecast period. 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 market growth.
North America led the overall market in 2018 owing to higher expenditure on wellness tourism (domestic and international traffic) than other regions. Asia Pacific region is anticipated to witness the fastest CAGR over the forecast period due to the popularity and growth of spa tourism sector and rising wellness tourism expenditure.
Increasing interest in experiential travel and growing affordability of flights and travel options will drive the regional market further. Moreover, aesthetic procedure market is expanding with the rising demand for Botox and collagen injections, chemical peels, cellulite treatments, hair removal, facial rejuvenation, and liposuction, thereby boosting market development.
Some of the major companies in the global 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. Some of the strategies undertaken by these companies are product and service development using novel technology, partnerships with other firms, outlet expansion, and business investments.
For instance, 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 December 2016, private equity firms, DW Healthcare Partners, and Linden Capital Partners jointly acquired Edge Systems, a manufacturer of non-invasive equipment & consumables for aesthetic skin treatment.
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 their Manhattan locations. In addition, in July 2017, Hyatt Hotels acquired Miraval for USD 215 million to target the wellness tourism sector.
Report Attribute |
Details |
Market size value in 2020 |
USD 15.5 billion |
Revenue forecast in 2026 |
USD 33.9 billion |
Growth Rate |
CAGR of 13.8% from 2019 to 2026 |
Base year for estimation |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2026 |
Quantitative units |
Revenue in USD million and CAGR from 2019 to 2026 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Service, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; UK; Germany; France; Italy; Spain; Japan; China; India; Thailand; Brazil; Mexico; South Africa |
Key companies profiled |
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. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global medical spa market report on the basis of services and region:
Service Outlook (Revenue, USD Million, 2015 - 2026)
Facial Treatment
Body Shaping & Contouring
Hair Removal
Scar Revision
Tattoo Removal
Others
Regional Outlook (Revenue, USD Million, 2015 - 2026)
North America
The U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Thailand
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
b. The global medical spa market size was estimated at USD 13.6 billion in 2019 and is expected to reach USD 15.5 billion in 2020.
b. The global medical spa market is expected to grow at a compound annual growth rate of 14.1% from 2019 to 2027 to reach USD 39.1 billion by 2027.
b. North America dominated the medical spa market with a share of 42.7% in 2019. This is attributable to the higher expenditure on wellness tourism (domestic and international traffic).
b. Some of the major companies in the medical spa 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.
b. Key factors that are driving the medical spa market growth include factors such as increasing consumer awareness about self-care and anti-aging services along with the rapid expansion of the wellness tourism sector.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.