Latin America Medical Spa Market Size & Outlook, 2023-2030
Latin America medical spa market, 2018-2030 (US$M)
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Latin America medical spa market highlights
- The Latin America medical spa market generated a revenue of USD 764.3 million in 2023.
- The market is expected to grow at a CAGR of 15.1% from 2024 to 2030.
- In terms of segment, facial treatments was the largest revenue generating service in 2023.
- Body Shaping & Contouring is the most lucrative service segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 764.3 million |
| Market revenue in 2030 | USD 2,041.5 million |
| Growth rate | 15.1% (CAGR from 2023 to 2030) |
| Largest segment | Facial treatments |
| Fastest growing segment | Body Shaping & Contouring |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Facial Treatments, Body Shaping & Contouring, Hair Removal, Scar Revision, Tattoo Removal |
| Key market players worldwide | Eli Lilly and Co, ADF Group Inc Shs Subord.Voting, Mandarin Oriental International Ltd, Chic La Vie, Clinique La Prairie, Lanserhof, Orchard Wellness, Angel Longevity Medical Center, Allure MedSpa, Longevity Wellness Worldwide, Serenity MedSpa, Spa & Hôtel le Finlandais, Park Hotel Group, SHA Wellness Clinic, Aesthetic Business Transformations, Gentle Touch MediSpa & Wellness, MedSpa.com, Chiva-Som International Health Resorts |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.1% of the global medical spa market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 13,580.7 million by 2030.
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Medical Spa Market Scope
Medical Spa Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America medical spa market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical spa market will help companies and investors design strategic landscapes.
Facial treatments was the largest segment with a revenue share of 54.26% in 2023. Horizon Databook has segmented the Latin America medical spa market based on facial treatments, body shaping & contouring, hair removal, scar revision, tattoo removal covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America medical spa market is primarily driven by high demand for aesthetic treatment in Brazil, Mexico, Argentina, and Colombia. In addition to local consumers, medical tourism for wellness services is also driving the market in this region.
Lack of defined regulatory guidelines has resulted in increased availability of spa facilities, leading to competitive pricing. Thus, large corporations provide complementary services to sustain their position in growing competition. Brazil dominated the Latin American market in 2021 and is expected to maintain its position during the forecast period.
Major investments by key market players in emerging economy, presence of a large target population, and availability of well-equipped medical spas are among factors expected to drive the market in Brazil. However, low affordability of advanced technologies by small and medium-sized medical spas may hinder market growth in Latin America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America medical spa market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America medical spa market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America medical spa market size, by country, 2018-2030 (US$M)
Latin America Medical Spa Market Outlook Share, 2023 & 2030 (US$M)
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