The medical spa market refers to the segment of the beauty and wellness industry that offers medical-grade treatments and procedures in a spa-like setting. These facilities are often owned and operated by licensed healthcare professionals, such as doctors, nurses, and aestheticians, who provide non-surgical medical treatments to improve the appearance and health of their clients.
The global medical spa market is expected to continue growing in the coming years, due to increasing demand for minimally invasive cosmetic procedures and rising awareness of the benefits of wellness and self-care. Technological advancements, such as the development of new and improved medical devices and treatments, are also driving growth in this market.
Some of the most common treatments offered at medical spas include injectables (such as Botox and dermal fillers), laser hair removal, skin resurfacing and rejuvenation, and body contouring. Medical spas may also offer more traditional spa services, such as facials and massages, but with a medical focus.
The medical spa market is highly competitive, with many established players and new entrants vying for market share. Factors such as location, pricing, reputation, and the quality of services offered are all important considerations for consumers when choosing a medical spa. Additionally, regulations and licensing requirements vary by region, so it’s important for medical spas to comply with local laws and regulations to ensure safety and quality of care.
Competitive Landscape
Through acquisitions and joint ventures, key firms increase their footprint in growing regions and broaden their service offerings on the global market.
To bring technological advancements to this service industry, market players also bolster their research and development capabilities.
For instance:
- U.S. FDA approved SkinPen® Precision for the treatment of neck wrinkles in April 2021, according to an announcement made by Crown Laboratories, Inc., the US market leader in microneedling technology.
- After a ceremony in Dubai, the World Spa Awards 2019 crowned Lanserhof Tegernsee the World’s Best Medical Spa for the fifth consecutive year in October 2019.