Medical Spa Market to hit USD 55.3 billion by 2032, says Global Market Insights Inc.

Medical spa industry is projected to witness a CAGR of 13.3% during the period 2024-2032. This growth can be attributed to the increasing adoption of non-invasive procedures.

Selbyville, Delaware, Oct. 29, 2024 (GLOBE NEWSWIRE) —

Medical Spa Market size is projected to be worth USD 55.3 billion by the end of 2032. The surging adoption of new technologies, such as advanced laser systems, radiofrequency devices, and ultrasound technologies, for enhancing the effectiveness of treatments and improving patient outcomes.

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Of late, medical spas are increasingly blending traditional medical treatments with wellness and holistic services. These include combining cosmetic procedures with services like nutritional counseling, stress management, and fitness programs. The strong focus on personalized treatment plans tailored to individual patient needs will also boost industry expansion. For example, in August 2023, Moxies secured $15.7M to drive empowering independent med spas.

Geriatric segment to record significant CAGR

The geriatric age group segment in the medical spa market generated notable revenue in 2023 and is likely to register notable progression by 2032. The desire to maintain a youthful appearance and healthy skin is pushing older adults to seek treatments that address age-related concerns, such as wrinkles, sagging skin, age spots, and pigmentation. Medical spas provide a variety of such options, including Botox, fillers, laser therapy, and skin rejuvenation, which are suitable for the aging skin of the geriatric population. Moreover, older adults further prefer non-invasive or minimally invasive treatments that have lower risks, shorter recovery times, and less discomfort as opposed to surgical procedures.

Rising preference for free-standing medical spas

In terms of service provider, the medical spa market from the free-standing segment is poised to witness a considerable CAGR up to 2032. The development can be attributed to the strong demand for non-invasive and minimally invasive procedures, such as chemical peels, microneedling, and non-surgical body contouring. Free-standing medical spas are well-positioned to offer these treatments as they attract clients who prefer alternatives to surgical procedures with shorter recovery times and lower risks. Ease of accessibility, specialization, comprehensive service offerings, and enhanced client experience are other factors driving segment expansion.

Asia Pacific to offer lucrative growth opportunities

APAC medical spa market size will account for a significant revenue share by 2032 on account of rapid growth of urban population and increasing awareness of aesthetic treatments, mainly in China, Japan, South Korea, and India. Consumers in the region are increasingly opting for non-invasive and minimally invasive aesthetic treatments, such as Botox, fillers, laser hair removal, and chemical peels due to their lower risk and shorter recovery times. Growing government support to ensure the safety and efficacy of aesthetic treatments will also define regional market progression.

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Medical Spa Market Participants

Some of the prominent industry players are AbbVie Inc., Candela Corporation, Alma Lasers LTD, Cutera, Inc., Cynosure, Solta Medical Inc., American Laser NW, Hand & Stone Franchise Corp., Ideal Image, ME SPE Franchising, LLC, Skin Laundry Holding, LLC, and Sono Bello.

These firms are focused on investment initiatives and partnership strategies to proliferate their offerings. For example, in June 2024, a major national med spa acquisition platform Princeton Medspa Partners collaborated with Kansas-based Mirabile Beauty, Health & Wellness to expand its existing footprint while entering new markets.Top of Form

Partial Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Market scope & definitions

1.2    Base estimates & calculations

1.3    Data collection

1.4    Forecast parameters

1.5    Data validation

1.6    Data sources

1.6.1    Primary

1.6.2    Secondary

1.6.2.1   Paid sources

1.6.2.2   Public sources

Chapter 2   Executive Summary

2.1    Industry 360⁰ synopsis

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Industry impact forces

3.2.1    Growth drivers

3.2.1.1   Increasing demand for aesthetic procedures

3.2.1.2   Technological advancements in aesthetic procedures

3.2.1.3   Increasing adoption of non-invasive procedures

3.2.1.4   Rising prevalence of obesity globally

3.2.2    Industry pitfalls & challenges

3.2.2.1   High cost of spa equipment

3.2.2.2   Lack of reimbursement and stringent regulatory scenario

3.3    Growth potential analysis

3.4    Technological landscape

3.5    Regulatory landscape

3.6    Porter’s analysis

3.6.1    Supplier power

3.6.2    Buyer power

3.6.3    Threat of new entrants

3.6.4    Threat of substitutes

3.6.5    Industry rivalry

3.7    PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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