Medical Spa Market Expected to Reach $29,542.33 Million by 2030 At A CAGR of 9%

 According to a new report published by Allied Market Research, titled, "Medical Spa Market by Service: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global medical spa market size was valued at $12,438 million in 2020, and is estimated to reach $29,542.33 million by 2030, growing at a CAGR of 9% from 2021 to 2030.

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A health spa combines medical expertise and technology with the relaxing experience of a spa. The health spa offers a full body treatment, which also includes nutritional advice. These spas are a unique blend of medicine and beauty, to provide quality beauty treatments in a relaxing environment. In addition, these treatments are recommended in medical care.

According to the report of the American Society of Plastic Surgeons (ASPS) in 2020, it is estimated that in America 15.6 million cosmetic procedures were performed, including 2.3 million cosmetic surgeries and 13.2 million minor cosmetic procedures. Additionally, approximately $16.7 billion was spent on cosmetic procedures in the United States.

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Also, the progress of various techniques based on technology for the removal of tattoos, scars, and striae. In addition, the increasing focus of health spas continues to offer cosmetic treatments solely on promoting health and wellness. Developed countries are expected to witness the growth of the health spa industry during the forecast period.

By function, the market is divided into body treatments, hair removal, facial treatments, tattoo removal, scars and striae, etc. The facial care segment generated the highest revenue in 2020 accounting for $4,050.55 and is expected to witness the highest CAGR of 10.3% during the forecast period.

Main results of the study -

By function, the facial care sector is the largest contributor to the health spa market in 2020.

Regionally, North America posted the highest revenue in 2020, while Asia-Pacific is expected to grow at the highest CAGR during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various research data tables and confirms utmost accuracy in our market forecasting. Each and every us companies and this helps us in digging out market data that helps us generate accurate y data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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