It is estimated that the global medical spa market will witness a promising growth in the next few years. Medical spas are now being considered as an exclusive form of treatment and care and are quite different from the other types of healthcare services. However, the popularity of these medical spas is slowly picking up the pace. It requires a technologically advanced set up along with necessary medical expertise to offer the soothing and relaxing spa experience to the consumers. Medical spas also provide customized skin care and healthcare solutions such as nutrition tips, dermatological solutions and exercise advice, among others.
Customer Satisfaction and Market Growth
Medical spas are generally targeted by a certain group of clients or patients who have great expectations from such services. This is the reason marketing and promotions of medical spas are executed differently than regular healthcare services or products. Similarly, the global medical spa industry faces multiple challenges than those faced by the regular healthcare sector. Roughly all of the patients opting for medical spa treatments pay their bills from their own pockets. Insurance generally doesn’t cover medical spas. Thus, customer service of highest order becomes a critical aspect of the global medical spa market.
There are multiple factors that are responsible for fueling the overall development of the global medical spa market. One of the biggest driving factors for the development of the global market is the recent growth of consumers use of cosmetic medicines and treatments for the purpose of beauty enhancement. This trend is particularly popular across the developed nations because of the availability of high-tech facilities for skin care and constant technological advancements that complement the same. Moreover, in recent years, there has been a considerable rise in the number of dermatological disorders. This has prompted a large number of end users to turn to medical spas for treatment.
Another important factor that has been pushing the development of the global medical spa market has been the growth in medical tourism in different nations such as India, Brazil, Singapore and China, among others. Such developments are projected to create ample business opportunities for the growth of the global medical spa market in the near future.
The Dangers of High Costs
There are a few factors that are impeding the overall development of the global medical spa market. One of the primary restraining factors for market growth has been lack of skilled professionals. There is a big lack of skilled labor in the global market and is one of the reasons why the cost associated with medical spas is on the higher side. As a result, the industry is yet to reach the common masses and thus, the medical spa market is experiencing an impeded growth.
The competitive landscape of the global medical spa market is fragmented one with multiple companies in the fray. The leading players in the market are concentrating on providing world class services and high levels of customer satisfaction. The competition in the market is high and is projected to increase further into the forecast period. Some of the notable names in the global medical spa market are Allure Medspa, Sciton Inc., Clinique La Prairie, Vilalara Longevity Thalassa & Medical Spa, Westchase Medspa, True Skincare Center, Chiva Som and Canyon Ranch Inc. among others.