Medical Spa Market Forecast
Medical spas, also known as medi-spas or med spas, involve medical technology and expertise along with the relaxing experience of a spa. It provides overall skin care services, including fitness guidance and nutrition. It can treat and help with a variety of problems, such as acne, cellulite, and even sun damage. The market has been segmented based on service, age, and gender. Factors driving the market include the increasing use of cosmetic treatments, rising demand for minimally invasive solutions, and a rise in per capita income. However, the prohibitive cost of the procedures and the lack of skilled professionals are the major market growth restraints.
COVID-19 Analysis
The pandemic has raised awareness regarding health & wellness and nutrition among people who used to overlook their health. However, at the same time, due to the pandemic, the lockdown and temporary ban happened. Furthermore, the market experts were forced to close the medical spa offices during the pandemic due to the decrease in cosmetic treatments, minimally invasive procedures, and a substantial reduction in revenue.
Market Opportunities
Medical tourism is growing rapidly and grabbing attention across the world due to highly engaged governments and business strategies such as how to define, organize, and promote medical tourism. Medical spa and aesthetics play an integral role in the medical tourism industry. The countries with well-developed public-private collaborative bodies, including associations with broad participation or medical tourism cluster networks, are promoting, and developing medical tourism capabilities. Moreover, the rising number of healthcare facilities getting international accreditation to ensure patient safety and provide care is projected to create opportunities during the forecast period.
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