The U.S. Medical Spas Industry

The U.S. Medical Spas Industry

This groundbreaking new report by Marketdata LLC examines the booming $17.5 billion business of medical spas. Industry revenues have more than tripled since 2012. There are now 8,800 medical spas operating in the United States—an interesting hybrid niche healthcare/cosmetic facility that straddles the medical and business fields. Many nurses and clinicians entering the field don’t have adequate business skills. That’s why they sell to private equity investors, who can handle marketing better.

As primary care MDs seek to replace lost income, and as Baby Boomers and Millennials age, demand is growing for non-invasive cosmetic procedures for women and men, made possible by new laser equipment.

This new study examines the med spas’ industry structure and history, revenues/growth, 13 major market trends and issues, effects of the pandemic, consumer demand factors and demographics, extensive med spa operating metrics, why franchising has grown so slowly, investment by private equity firms, and more. National $ revenues (2002-2022, with 2027 forecasts).

The following are new analyses, most not found elsewhere:

2022 operating metrics

Market potential, by STATE

Market potential, by type of service (injectables, hair removal, etc.)

Financial/operations data from 2022 Company Franchise Disclosure Documents

Industry Profit & Loss Statement, profit margins

Esthetician, other staff salaries

Interviews with industry consultants

The top surgical & non-surgical cosmetic procedures, average costs.

Marketdata has performed a thorough search of data, member surveys, podcasts and articles from AMSPA, ISPA, Aesthetic Plastic Surgery Assn., Medical Spa Physician Report and other sources to create the most comprehensive analysis of the industry to date.

Introduction: Study Scope and Methodology, Sources Used
Executive Overview of Major Findings
Highlights of all study chapters: nature/description of the industry, medical spas market structure, growth/demand drivers, key operating metrics, $ market revenues/growth (2002 – 2023, 2027 forecast), major trends (consolidation, diversification, mobile med spas, and factors affecting consumer demand, effects of the pandemic, recovery, results of Marketdata and other surveys, top aesthetic procedures, market history and development, growth markets (tattoo removal).
Number of med spas: 2005-2022
Industry average income & expense statement
Number of Non-surgical Procedures and Value: 2022 & 2021
Total Surgical & Non-surgical Procedures Performed
Nature of the Industry
Market history, medical spa definition, legal guidelines and typical settings
Number of med spas in operation, industry structure, fragmented market, private pay, single-location operations, avg. revenues, recession-resistant business
Major trends: Discussions of: aging population, higher demand for non-invasive procedures, mobile med spas, IV therapy, private equity investor interest, laser equipment technology innovation, entry into weight loss services, membership models, patient financing,
Liability issues and staff qualifications
Industry regulation: ethical dilemmas
Types of non-surgical aesthetic procedures for improving skin appearance: hair removal, leg and facial veins, skin rejuvenation – in-depth descriptions
Medical spa practitioners – training, number, typical procedures performed: estheticians, laser technicians, cosmetic surgeons, dermatologists.
Consumer Demand: The Top Cosmetic Procedures
Summary of number of procedures performed: data from American Society for Aesthetic Plastic Surgery (2022), surge in non-surgical procedures in 2021.
Discussion of top 5 procedures surgical & non-surgical procedures for women, men (breast augmentation, liposuction, eyelid surgery, abdominoplasty, breast reduction) and top 5 minimally-invasive procedures (botox, laser hair removal, laser skin resurfacing, chemical peel, hyaluronic acid) – number of procedures and spending
Highlights of ASAPS 2022 survey on cosmetic surgery: men vs. women, by age, top procedures. Comparison to historical surveys in 2005 and 2000
Procedure descriptions, costs
Facial treatments
Dermal fillers
Chemical peels
Laser hair removal
Liposuction and body contouring
Varicose vein removal (sclerotherapy)
Tattoo removal (why demand is increasing, trends, value of the industry)
Number of cosmetic procedures performed in U.S., by type: 2022 vs. 2021, revenues/mkt. value
Average Cost of Procedures -2022
Plastic surgeon fees, by type procedure, total expenditures: 2011 vs. 2000
Total Surgical & Non-surgical Procedures Performed: 2019-2022
U.S. National Number of Cosmetic Procedures: 2022 vs. 2011, % change
Range of Physician/Surgeon Fees, by Type Procedure: 2022 vs. 2011
Industry Structure & Operating Ratios
AMSPA – Major Findings of 2022 member survey: patient demographics (by sex, age), patient visits per month, no. of med spas, avg. annual revenues per med spa, avg. spend per visit, ownership, repeat patients, percent single location operations, staff avg. salaries)
ISPA Surveys: data, major findings of 2023 U.S. Spa Industry Study: total no. of spas, total spa visits, Avg. visits per establishment
Medical spas: revenue per visit, per sq. ft., per staff person, visits per spa, sq. footage per spa, employees per spa
Discussion of Key Financial Formulas for Med Spas
Average cost of new med spa equipment:
Discussion of Operations Pitfalls – Opinions of Acara Partners
The Medical Spa Physician Report: major findings of Jan. 2012 survey – not updated (med spa income, % spent on marketing, value of new patients, type marketing used, obstacles to growth, most profitable treatments, etc.)
Marketdata online Med Spa Survey results (Aug-October 2012)
How owners characterize their med spa (part of day spa, med spa, etc.0
Type of staff employed at the med spa, percent employing
Revenue mix (procedures vs. retail products)
Services offered, by type, % offering (16 types)
Profile of typical customer (% men/women, avg. age, % repeat clients)
Percent of spas with MD on premises. If not on premises, no. of hrs. they provide supervision
Identify reasons why you call your facility a med spa (all responses listed)
Average annual revenues (group avg.): 2009, 2010, 2011 - % increase
Expected revenues growth in 2012: Percent expecting decrease, same level, increase
How the last recession affected med spa business – all responses listed
Greatest concerns in growing the med spa’s practice - all responses listed
Sample income, expense and profit margin statement – market average, estimated by Marketdata - % of sales for variety of expenses
Acara Partners: med spa operations pitfalls to avoid, Groupon deals, marketing, budgets, etc.
Geographic Analysis – Market Potential, By State
Staffing – The Estheticians Outlook: average yearly salaries, projected job growth, regional demand, demographic profile
Medical Spa Nurse Jobs: avg. salaries, U.S. and regional
Average Salaries for:
Injection Specialist
Skin Care Consultant
Beauty Therapist
Skin Therapist
Licensed Esthetician
Spa Therapist
Master Esthetician
Lead Esthetician
Hair Removal Specialist
Wax Specialist
Medical Esthetician
Number of U.S. Med Spas, Average Annual Revenues: 2007-2022
Number of all types of spas: 1999-2022
U.S. Spa Industry Revenues (all types of spas): 2010-2022
Total Spa Visits in the U.S: 1999-2022
Revenues Per Spa Visit: 2018-2022
Med Spa Average Start-up Costs
Sample Income & Expense Statement for a Stand-alone Med Spa
Geographic Data – Estimated No. of Med Spas & Revenues, By State: 2023
Industry Size and Growth
Summary: Discussion of market history and reasons for recent growth
Factors affecting demand for med spa services: aging of population, state regulations, broader range of treatments available, broader customer base, technology-driven market
Current market status: Effects of the Covid-19 Pandemic, how consumer attitudes have changed
Effects of the Great Recession of 2008
Sources of market estimates: limitations and benefits, lack of government Census data, AMSPA, ISPA, primary research
ISPA surveys: 2023 Spa Industry Report findings
Discussion: 2020-2021: Performance During and After The Pandemic
Discussion: 2022- 2023 Performance
2027 Forecast: Key growth drivers over the next 5 years, rationale,
Growth markets:
Analysis of the Tattoo Removal Market – Reasons for growth, mkt. $ size estimates
Analysis of Facial Treatments Market, injectables - Reasons for growth, mkt. $ size estimates
laser Hair Removal Market - Reasons for growth, mkt. $ size estimates
Total spas industry – number of spas (1999-2022)
Total spa industry revenues (2010-2022)
Total spa industry - average revenues per spa (1999-2022)
Number of medical spas as a percent of all spas (2005-2022)
Estimated value of the medical spas market (2002-2022, 2023 & 2027 Forecasts)
Medical spas number vs. ALL types of spas (2005 – 2027 F)
GLOBAL Med Spas Market Forecasts by other research firms
Market Potentials by Type Service: 2022 (body shaping, injectables, hair removal, tattoo removal, membership programs, retail products, massage/wellness)
Franchising In The Industry: Company Profiles
Reasons why franchising has not worked for some in this market: management, state regulations, pricing, botched treatments, overly optimistic earnings claims, recession, etc.
Company profiles (history, services provided, no. of units, purchase costs, royalty rates, 2022 FDD data about average revenues per franchise, parent company revenues, etc.)
Radiance Medspa
Sona Med Spa (defunct)
Dermani Med Spa
VIO Med Spa
MedSpa810 Franchising
Face To Face
Ideal Image Development Corp.
American Laser Skincare (defunct)
Venus Med Spa (not a franchise)
VIO Med Spa: gross sales by category, company-owned outlets (2022)
VIO Med Spa: Average yearly sales per franchise (average, median, high, low - 2022)
VIO Med Spa: Average yearly sales per franchise - Franchised outlets open for two or more years (2021, 2022)
VIO Med Spa: Annual gross sales per outlet, 7 individual outlets: 2021 & 2022
VIO Med Spa: parent company revenues, by Type – 2020-2022
MedSpa 810: parent company revenues, by type: 2019, 2020, 2021
Dermani Med Spa: company-owned outlets performance: revenues, gross profit - 2022 (5 sites)
Dermani Med Spa: gross revenues of franchised outlets (6 sites)
Dermani Med Spa: Parent company revenues: 2022
Reference Directory of Information Sources
Name/address/phone/key contacts: trade groups, journals, magazines, directories, special surveys, consultants, etc.

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