The global medispa market is on track to reach a value of £20,916m by 2025, according to new figures.
The Medical Spa Market by Service report: Global Opportunity Analysis and Industry Forecast, 2017-2025, published by Allied Market Research, predicts the market will grow at a rate of 12.2 per cent between 2018 and 2025.
Defined by the researchers as properties that blend medicine and aesthetics to provide quality cosmetic treatments, key players in the global medispa market include Allure Biovital Medspa, Canyon Ranch, Chiva Som, Clinique La Prairie, Sciton, Vilalara Longevity Thalassa & Medical Spa, Spa Vitoria and Lanserhof.
The body-shaping segment of the market accounted for a fifth revenue share of the global market in 2017, driven by advances in non-invasive techniques. Further advances are anticipated to fuel future market growth, as is increasing use of aesthetic medicine and cosmetic treatment options for beauty enhancement and a growing wellness trends in developed countries. The expansion of medical tourism in developing countries is also expected to create lucrative opportunities for key market players.
In 2017, North America was the dominant revenue contributor, owing to early adoption of novel technologies. However, Asia-Pacific is expected to witness the highest growth during the forecast period, due to the presence of high-populace countries. India is the fastest-growing country in the Asia-Pacific medical spa market.
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