Industry Analysis & Industry Trends
In the years since the recession, industry revenue has gradually recovered with improving per capita disposable income and consumer confidence. To generate growth, spas have expanded their array of service offerings, particularly their range of antiaging and medical treatments. The baby-boomer generation is expected to take advantage of expanding antiaging services over the next five years, making the demographic an especially important source of industry growth.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Health and Wellness Spas industry is in the mature stage of its industry life cycle. In the 10 years to 2019, industry value added, which measures the industry's contribution to the overall economy, is forecast to rise at an annualized rate of 4.2%. Comparatively, GDP is projected to rise 2.7% per year on average during the same period. As a result, the industry is growing relatively in line with the overall economy, a key indicator of its mature life cycle stage.
Although hardly a nascent industry, the Health and Wellness Spas industry came into greater prominence in the 1990s and 2000s with the proliferation of day and medical spas. The number of medical spas has grown strongly; from 2002 to 2010 more than 1,500 medical spas opened in the United States... purchase to read more