Medical Spas Market Rebounds From Recession
$1.9 Billion Niche Healthcare Market Poised For Strong Growth, Says Marketdata
Tampa, FL (PRWEB) November 05, 2012
Tampa FL, November 5, 2012: Marketdata Enterprises, Inc., a leading independent market research publisher of “off-the-shelf” studies about service industries since 1979, has released a new 127-page report entitled: Medical Spas: A Market Analysis . This is a new market study about a growth market that has become more mainstream. The study examines the operations of medical or “med spas”, an interesting hybrid niche healthcare/cosmetic facility that straddles the medical and business fields.
There are the about 2,100 “medical spas” or “med spas” now operating in the United States. Medical spas only emerged ten years ago and exploded in number between 2007 and 2009. However, a major shake-out took place as franchises failed and the recession hit—exposing overoptimistic revenue assumptions and poor management.
As primary care MDs seek to replace lost income, and as baby boomers age, demand should grow for minimally or non-invasive cosmetic procedures made possible by an ever-developing generation of laser equipment.
“Headwinds that have limited med spa success in the past have included widely varying state regulations, botched procedures resulting from improper use of laser machines, poor expense controls, and a spate of failed franchises. However, most of these issues have been resolved and the business lessons have been learned.”, according to Research Director, John LaRosa.
- Marketdata estimates that revenues of the 2,100 U.S. medical spas will reach $1.94 billion this year, and $3.6 billion by 2016. Average revenues per facility are $924,000. Sales are forecast to grow 18% per year.
“There are many positives contributing to strong growth for med spas: the market for aesthetic procedures among 18-25 year olds is growing, especially for hair removal and tattoo removal, more MDs are looking to replace lost income with elective private pay services, and technical developments have enabled practitioners to offer a broader range of treatments. These technical developments have reduced the required treatment and recovery times, which in turn have led to greater patient demand.” according to John LaRosa.
ABOUT THE STUDY
Medical Spas: A Market Analysis, published in November 2012, is an independently researched “off-the-shelf” study. The study is 127 pages in length, has 32 tables, and costs $1,495. It is also sold by individual chapters at lower cost. For the research, Marketdata interviewed market consultants, owners/operators of med spas, laser equipment manufacturers, trade associations, spa industry magazines, and many others, in conjunction with custom Marktdata online and secondary sources.
This study examines the med spas market structure and history, revenues/growth, key market trends and issues, effects of the recession, consumer demand factors and demographics, extensive med spa operating ratios--results of three separate surveys, laser technology and suppliers, why franchising failed, investment, etc. Covers national revenues (2002-2011 estimates, 2012, 2013 & 2016 forecasts).
Marketdata Enterprises, Inc., is a 33-year old independent market research and consulting firm that publishes market studies and industry studies covering a wide range of service businesses. John LaRosa is available for interviews (813-907-9090). A free report table of contents is available by mail, fax., email or the Web. Contact: Marketdata Enterprises, Inc., 8903 Regents Park Drive, Suite 120, Tampa, FL 33647, or see http://www.marketdataenterprises.com
Marketdata Enterprises, Inc., Tampa, FL
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