Medical Spa Market Size, Share & Trends Analysis Report By Service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal), By Age Group, By Gender, By Service Provider, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the medical spa market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for medical spa market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of medical spa market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Medical Spa Market Categorization:

The medical spa market was categorized into four segments, namely service (Facial Treatment, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal), gender (Male, Female), age group (Adolescent, Adult, Geriatric), service provider (Single Ownership, Group Ownership, Free-standing, Medical Practice Associated Spas), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The medical spa market was segmented into service, gender, age group, service provider, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The medical spa market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; South Korea; Australia; Thailand; Brazil; Argentina; Saudi Arabia; UAE; Kuwait; and South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Medical spa market companies & financials:

The medical spa market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• CHIC LA VIE - Chic La Vie is one of the top medical spa providers in the world offering non-invasive cosmetic procedures designed to restore youth, beauty, and weight loss. Chic La Vie has experienced physician assistants, aestheticians, and nurses trained in advanced best-in-class technology for optimum results.

   

• CLINIQUE LA PRAIRIE - Clinique La Prairie is a world-class medical spa provider offering advanced health & wellness programs. Clinique La Prairie follows a holistic approach combining advanced preventative medicine & well-being with nutrition plans. With around 50 medical specialists & holistic experts, Clinique La Prairie successfully offers optimum services, such as exceptional diagnostics, a complete regenerating detox experience, innovative technologies, and a highly stimulating environment to re-energize.

   

• KUROTEL - LONGEVITY MEDICAL CENTER AND SPA - Kurotel - Longevity Medical Center and Spa is the top medical spa in Brazil. Kurotel provides knowledge about lifestyle management to its clients. A pioneer in healthcare, the company offers a unique experience with a combination of predictive medicine, healthy gourmet food, physical activities, aesthetic therapies, and relaxation. An interdisciplinary team of 150 employees is ensuring that clients experience the ultimate vitality of the body & mind.

   

• LANSEROHF LANS - Lanserohf Lans has been actively operating over the past 35 years, Lanserohf Lans is a symbol of innovative medicine and prevention & health regeneration. The company has a holistic approach combining naturopathy and the latest medical findings to help clients achieve physical, mental, and spiritual regeneration & get rid of unnecessary ballast.

   

• THE ORCHARD WELLNESS RESORT - The Orchard Wellness Resort provides high-quality services that have long been proven to get the best results for consumers. The medical spa facility facilitates men & women to have the best experience and feel great by having individualized health & beauty procedures designed to meet specific individual needs.

   

• BIOVITAL MEDSPA - Biovital MedSpa is one of the top medical spa providers globally. Biovital MedSpa is facilitating natural beauty preservation through preventative & corrective skincare. At Biovital MedSpa there is an expert team that provides superlative service achieving the best results for consumers. Individualized health & aesthetic procedures are designed to meet specific individual requirements.

   

• ALLURE MEDSPA - Allure MedSpa is a world-class, renowned MedSpa center facilitating various aesthetic treatment procedures. Allure MedSpa is among the most preferred destinations for cosmetic procedures even preferred by celebrities for transformation. Allure MedSpa has expert healthcare professionals & licensed aestheticians committed to providing customized approaches for enhancing skin & body features using clinically developed advanced skincare services and products.

   

• LONGEVITY WELLNESS WORLDWIDE - Longevity Wellness Worldwide is a global leader in medical spa services providing unique wellness experiences to clients in Portugal's Algarve region. The company's main objective is to promote a deep understanding of the root cause of imbalance and offer individuals strategies for improving health and well-being. In 2013, Longevity was acknowledged at the prestigious World Travel Awards with nominations for Europe’s Leading Spa & Wellness Resort.

   

• SERENITY MEDSPA - Serenity MedSpa is a premium medical spa destination with the most advanced & comprehensive procedures, products, and services. Serenity MedSpa is engaged in research & testing of the most advanced minimally invasive cosmetic procedures available, and only the ones with proven quality are included in the Medspa menu. Serenity MedSpa has an expert team of highly qualified, experienced, and friendly nurses and support staff, all committed to helping you reveal your ultimate beauty from the inside out.

   

• VICHY CELESTINS SPA HOTEL - Vichy Celestins Spa Hotel is one of the top spa destinations in the world. Vichy Celestins Spa Hotel is a pioneer in thermal bath spas. The company’s thermal baths were truly developed in the time of emperor Napoleon the Third and since then a royal service limited to kings only for many years. In 1872, Vichy Celestins Spa Hotel became a public company and developed a high-end thermal spa facility, the largest in Europe intending to provide an improved spa experience to clients.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Medical Spa Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Medical Spa Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.