Latest News- Medical Spa Market: Adults is expected to lead the Age Group segment during 2024-2028

The Medical Spa Market is being driven by Rise in geriatric population

The Medical Spa Market is expected to grow at a CAGR of 19.94% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 27554.5 million. The medical spa market has experienced substantial technological progressions, particularly in the realm of equipment. These advancements have given rise to innovative tools and machinery, enhancing the efficacy and efficiency of treatments for patients. One such technology is laser technology, which has revolutionized the industry by providing a multitude of treatments previously unattainable. Lasers are now utilized for diverse skin treatments, such as rejuvenation, hair removal, tattoo removal, and skin tightening. Modern laser devices offer heightened accuracy, precision, and safety. Another technique gaining popularity is microdermabrasion, a skin resurfacing method that employs a machine to eliminate the outermost layer of skin, thereby enhancing skin texture and appearance. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Age Group
  • Adults
  • Adolescents
  • Geriatric
• Technology
  • Facial treatment
  • Body shaping and contouring
  • Tatoo removal
  • Others
• Geography
  • Europe
    • Germany
    • France
  • APAC
    • China
    • Japan
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in geriatric population
• Rising disposable income and changing lifestyle trends
• Growth in medical tourism

However, the market also witnesses some limitations, which are as follows:

• High cost of medical spa equipment
• Lack of skilled professionals
• Stringent regulations on medical spa equipment

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Market Scope in Medical Spa Market Research Report

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Research Analysis Overview

The medical spa market encompasses various minimally invasive treatments and personalized beauty services, including chemical peels, body sculpting techniques like radiofrequency body contouring and Coolsculpting, and tattoo removal. Wellness tourism sector integrates these offerings with wellness-themed vacations at hotels. Providers include medispas, dermatologists, doctors, plastic surgeons, aesthetician's doctors, wellness coaches, and offer treatments such as Botox injections, anti-wrinkle therapies, acne therapy, laser procedures, non-surgical lifts, and hydrafacial infusion toning from brands like BTL Aesthetics and Renew Medical Aesthetics.

Market Research Overview

The medical spa market, a segment of the global wellness tourism sector, is experiencing significant growth within the larger leisure facilities market. This market encompasses businesses offering minimally invasive treatments such as chemical peels, body sculpting, tattoo removal, and personalized beauty treatments. Technavio, a leading market research firm, classifies this market as part of the global hotels, restaurants, and leisure industry. Key growth drivers include the rise in disposable income, leading to increased spending on wellness-themed vacations, biophilic design in wellness architecture, and the integration of hospitality, travel, fitness, and beauty treatments, including dermal fillers, laser hair removal, and facial procedures. The global leisure facilities market size is determined by the combined revenue generated by companies in casinos and gaming, hotels, resorts, and cruise lines, leisure facilities, and restaurants.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/