The spa services market is expected to reach $ +160 billion by 2024. Medical Spa is expected to witness the fastest growth in 2019-2024. Spa Services is a collective application for a variety of services offered under the facial, body massage, craft, pedicure, body care and specialist administration of brain and body rejuvenation.
These personalized services are efficiently designed to provide end-users with the ultimate level of fitness, peace of mind, happiness, health, and wellness. Moreover, they are beneficial for stress management, medical treatment, detoxifying the body, weight loss and boosting the immune system. The global spa services market is seeing constant innovations, such as the use of hybrid spa technology, which utilizes the gas-generating hybrid system for heating the spa. Compared to such heating systems, this technology involves less use of carbon and other chemicals and is cheaper.
The market is driven by a busy lifestyle in urban areas, rising demand from emerging markets, new developments in spa services, and rising demand for teenage children. The spa industry has lucrative opportunities due to the increase in the percentage of the aging population and the increasing demand from emerging markets. However, the high cost of skilled therapeutic professionals and the low penetration of developed countries can hamper market growth.