By Michael Meyer, Content Manager, American Med Spa Association (AmSpa)

The American Med Spa Association (AmSpa) has released the 2024 Medical Spa State of the Industry Report. This report is designed to help medical aesthetic and medical spa professionals understand the realities of the industry and make more informed decisions using data collected from providers across the industry.

Among the most significant findings in the report is that while revenues have settled down a bit since the artificial highs of the immediate post-pandemic period, the medical aesthetics industry continues to grow at a steady, yet impressive pace.

“I’m continually blown away by the incredible growth and resilience of the med spa industry,” says AmSpa founder and CEO, Alex Thiersch, JD. “After robust growth and rebound after the pandemic, the industry continues to thrive and shows no signs of stopping anytime soon. I’m excited to release AmSpa’s 2024 Medical Spa State of the Industry Report, which is by far our most robust and complete industry study to date. Not only do we capture valuable insight into the size and breadth of the industry, but we’ve also drilled down to uncover what types of treatments and patients are driving this growth.”

From September 2023 to March 2024, AmSpa, along with partner Gordian Solutions Group (GSG), conducted an online survey of U.S.-based medical spa owners, and that information makes up the analytics in the report. The topics discussed in the report include:

• Demographic information for medical spa professionals and patients;
• Medical spa ownership structure;
• Business statistics and benchmarks;
• The impact of M&A;
• Patient spending habits;
• And much, much more.

“We are so excited to have worked with GSG again to launch the biennial Medical Spa State of the Industry Report,” says AmSpa President, Cathy Christensen. “In this report, you will find a plethora of information about the current state of the medical spa industry, covering favorites such as compensation, the most popular and profitable medical spa treatments, and the size, makeup and growth of the industry, as well as new insights, such as the true impact of M&A and investment activity in the space. As usual, this industry is fascinating, and the 2024 Medical Spa State of the Industry Report does a great job on condensing so much information into a consumable format.”

Prior to the COVID-19 pandemic, the medical aesthetic industry was growing at a remarkable rate. The 2024 Medical Spa State of the Industry Report outlines the aftermath of the pandemic and where medical aesthetics stands today. It reveals that the industry continues to grow at a steady pace despite the pandemic’s unquestionable impact on numerous economic factors, which is a positive sign for the field. The information in the report is designed to help readers understand how their business operations compare to the rest of the industry and how they can improve their bottom line.

“We have added more than $4 billion in total revenue and more than 30,000 jobs in the past three years,” says Thiersch. “Med spas now employ more than 100,000 employees across more than 11,000 med spas in the U.S., and it’s clear we still haven’t begun to reach our potential capacity.”

The 2024 Medical Spa State of the Industry Report also reveals how female-centric medical aesthetics is, in terms of its owners and providers as well as its patients. This aspect of the industry truly helps to set it apart from most other professions, both in health care and in general.

“One of the statistics I’m most proud of is the fact that nearly 70% of med spa owners are women,” says Thiersch. “And, considering that close to 90% of patients are women, and that the overwhelming majority of providers are women, the medical spa industry continues to carry the banner for female entrepreneurs in both business and health care. As the leading resource for the industry, AmSpa is extremely proud and grateful to represent the women—and men—who work in medical spas, and we will continue to promote and advocate for a safe, responsible industry.”

An executive summary of the 2024 Medical Spa State of the Industry Report is available for free to non-members and AmSpa Basic Members, and the full report is available for free to AmSpa Plus Members and 50% off for Basic Members; non-members can purchase the report at full price. Go to https://www.americanmedspa.org/resources/med-spa-statistics to download or purchase the full report or visit https://www.americanmedspa.org/become-a-member to become an AmSpa Plus member.