Medical Spa Market is forecast to reach USD 11.72 billion by 2030

The Global Medical Spa Market held USD 11.72 billion in 2019 and is predicted to reach USD 42.40 billion by 2030 with a CAGR of 12.4% from 2020-2030.

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A medical spa is a technique used to take care and treatment using medical technology providing with the relaxing experience of a spa. The medical spa is related to technology and involves medical expertise for providing the relaxing experience of a spa to patients.

The medical spa also provides personalized health care and skin care solutions such as exercise advice, facial treatments, nutrition advice, etc. The medical spa is taken by the people who have high expectations form this medical service.

The factors including the increasing use of aesthetic medicine and cosmetic treatment options for beauty enhancement and aging baby boomer population has majorly driven the medical spa market. Further, growth in wellness trend among developed nations has led to a rise in the demand of medical spa. However, the dearth of trained professionals especially in the developing economies and the high cost of procedures is hampering the growth of the medical spa market size. The increase in medical tourism will create new opportunities for market growth in the future.

The medical spa market is segmented on the basis of service and geography. On the basis of services, the market is classified into body shaping, facial treatment, hair removal, scars & striae, tattoo removal, and others. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and ROW.

North America denotes a higher adoption of the medical spa and is anticipated to hold the highest medical spa market share during the forecast period. This is attributable to the factors including enhanced developments in healthcare and related infrastructure, high consumer awareness, and technological advancements.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to improvement in public & private healthcare facility, and increasing acceptance of medical spa techniques.

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Comprehensive competitive analysis and profiles of the major market players such as Biovital Medspa, Canyon Ranch, Inc., Allure Medspa, Chiva Som, True Skin Care Center, Vilalara Longevity Thalassa & Medical Spa, Clinique La Prairie, Hyatt Corporation, Sciton, Inc., Westchase Medspa, and others are provided in the medical spa market report.