According to a new market research report “Medical Aesthetics Market by Product (Facial Aesthetics, Cosmetic Implants, Skin Aesthetic Devices, Thread Lift Products, Body Contouring Devices, Hair Removal Devices), End User (Hospitals, Medical Spas, Home Care Settings)–Global Forecast to 2025”, published by Meticulous Research®, the global medical aesthetics market is expected to grow at a CAGR of 11.5% from 2019 to reach $22.2 billion by 2025.
Medical aesthetics market comprises advanced products and technologies used by skilled medical professionals or aesthetic specialists for improving physical appearance of patients. Various invasive and noninvasive procedures are primarily designed for the significant enhancement and cosmetic change in patient’s appearance, and these are collectively termed as medical aesthetics procedures. Currently, there is an increasing demand of cosmetic procedures among the millennials and younger generation with increasing influence of social media, which is driving the growth of the medical aesthetics products market. Growing technological advancements and wider acceptance of cosmetic procedures among the diversified geographies across the globe is also contributing to the growth of the medical aesthetics market. The innovation in this market is primarily focused towards developing convenient, faster, and low risk products and procedures for patients. Furthermore, the growth of the medical tourism industry in APAC and Latin America region focused towards cosmetic procedures is also expected to create a greater demand for technologically advanced medical aesthetic products in these regions, thereby supporting the growth of the global medical aesthetics market over the forecast period.
The spa industry has gone through a bit of a renaissance over the last decade or so. Once primarily the preserve of the rich and famous, a visit to the spa is now more affordable and accessible.
We have also seen a surge in the rise of the middle class, which has allowed for a shift in consumer habits. What we’ve seen, particularly in the last decade, is a rise in wellness and self care.
How is the current fashion for wellness changing the spa industry even further? Let’s take a look.
Wellness travel boom
A quick trip to the local day spa is no longer enough. There’s a burgeoning market for wellness tourism today. Millenials have become much more lifestyle focused in recent years, and with that we’ve seen a rise in the number of trips being taken – over the purchase of physical goods.
Combined with the impact of social media, millennials use their social platforms to celebrate and showcase their travels. Platforms like Instagram have made spa vacations not only aspirational, but a priority for the majority of users. The wellness market is growing rapidly through travel, with spas offering bespoke packages, engaging with social media to promote it’s aesthetics and investing in influencer marketing.
Time spent during a single stay is increasing, with customers opting for spa weekends and staycations. When traveling, guests are opting to continue to use the fitness facilities and as a result, the wind down spa facilities too.
In 2017 the world’s wellness tourism market was worth a huge $639.4 billion, with an annual growth rate of 6.5%. As discussed, much of the market was in ‘secondary wellness tourism’, with people traveling domestically to hotels and utilising the spa facilities. For some time a spa was simply considered an add on to hotels, however with today’s traveller, it’s often an essential.
Focus on ingredients and ethical produce
Consumers are focused on nutrition more than ever. They want to know exactly what they’re putting in and on their bodies. Not only this, they also want to know how and where it was produced. Social responsibility and consciousness has become another trend that spas have the ability to harness. From offering packages that include a vegan afternoon tea, to workshops that allow customers to create and make their own face masks.
Spas are offering more experiential and transformative treatments to allow customers to feel involved and in control of the process. As the wellness trend continues to flourish, customers will seek the new and exciting, as well as the ethical. This is an opportunity for spas to establish their brands and experiment themselves with the treatments and packages they provide.
In addition to spa treatments, people are opting for self care products and practices they can administer at home. This will increase the opportunities to up-sell and cross sell products in your spa. While customers may only be able to afford to visit quarterly, this is an opportunity for spas to continue to build the momentum and a sense of loyalty.
There are a number of treatments that can be done in the comfort of people’s homes, including facemasks, hair masks, aromatherapy baths and steam facials. Building a reputation for caring about your clients will encourage brand loyalty. Focus on equipping your clients with knowledge and expertise, so that they feel compelled to return out of appreciation for your support and the services you provide.
Spas aren’t going anywhere
Now’s the time to really optimise your spa offering. Follow trends, plug yourself into lifestyle influencers and engage with the audience you hope to convert to customers. The wellness trend will only grow and amplify, with the demand for spas and health treatments increasing daily.
Selfcare looks different to each individual. While one might favour ethical, natural remedies to improve health and optimise beauty, another may favour non-surgical treatments including the likes of collagen fillers and microdermabrasion. Establish the business you identify most with and invest in online marketing efforts to drive your business forward.
NEW YORK — Spa visits and the money they generate reached record highs last year in the US with $18.3 billion in revenue driven by 190 million pampering trips, according to the International Spa Association.
The leading industry group for spa professionals recently held its 25th annual event for media to show off trends and services among its 2,300 members. Garrett Mersberger, the association’s board chairman, broke down a few highlights for The Associated Press:
A march of men
“We’re seeing a lot more men going to spas,” Mersberger said. “It used to always be a female-driven thing. We’re now seeing 50-50, if not swinging more toward the males.”
The trend took off as long ago as 2017, when the association reported 49 percent of spa customers were men, up from 29 percent in 2005.
“They’re much more aware that it’s not just a thing I go to to get pampered. It’s an actual lifestyle choice with benefits to my body, to my wellness. It’s part of my routine now. It’s not just about going for relaxation,” Mersberger said.
Every detail we hear about this Google summit only serves to make it more intriguing. Bradley Cooper helped Oprah on a bike? Bradley Cooper helped Katy Perry off a boat? (OK — it’s mostly about Bradley Cooper.) But a new detail has emerged: Meghan Markle and Prince Harry got pedicures before Harry’s (alleged) barefoot speech at that same summit. That’s right! For a brief moment of time, Bradley Cooper, Prince Harry and Oprah were all in the same room (possibly barefoot). What a sight that must have been — and joyously, Harry’s feet were appropriately groomed for the occasion.
If you’re wondering where Duchess Meghan is in all of this, she reportedly did not attend the summit, but enjoyed a spa day with husband Harry at a UK hotel before he flew off to Italy. A source told Entertainment Tonight that Meghan and Harry received pedicures and massages at Coworth Park, a high-end hotel in Ascot. Page Six reports that Harry gave a barefoot speech about climate change once he arrived at Google Camp, but the extreme secrecy surrounding the goings-on there make it impossible to confirm. This is the seventh year running for the Google event, which always attracts A-list stars eager to discuss climate change, human rights and other pressing issues affecting the world today.
Spas across the US generated $18.3B in revenue in 2018 and have seen a steady growth across key financial indicators in the last nine years.This is according to data from the International Spa Association (ISPA) which released the 20th edition of its ISPA US Spa Industry Study yesterday (6 August).
Revenue in US spas increased by 4.7 per cent between 2017 and 2018 and this has been attributed to a growth in revenue per visit which has seen an uptake of 3 per cent – from $93.70 to $96.50– over the same time.
Technology can be considered a disruptor to a healthy, balanced life – but new technologies like virtual reality are actually being used to enrich the spa and wellness industries and add an extra dimension to wellbeing.
Esqapes Immersive Relaxation is a virtual reality experience that replicates a day spa – without the massage tables – and transports you to another world without leaving LA. Michah Jackson, a former game producer at Disney, created the programs and spa environment so people could take a break from their daily grind by putting on a VR headset.
Through the technology, you can escape from the real world to a tropical island, and even feel the heat of the sun, all while your body is being relaxed by a high-end massage chair. In total, there are ten experiences to choose from, including a ‘heavenly garden’ and ‘snowbank cabin’ which leave you feeling like you’ve had a mini-vacation. You can book a slot via the website – 30 minutes costs you $45.
While bespoke VR experiences like Esqapes are popping up, virtual reality is also being incorporated into traditional spas. Relax VR presents clients with various options: combining VR with existing treatments e.g. get customers relaxed and present before their massage; using it as a standalone treatment on their menu, or using it as a promotion to entice new customers or reward existing customers.