In today’s competitive aesthetic industry, staying informed about key trends and benchmarks is crucial. The American Med Spa Association (AmSpa) recently released its comprehensive 2024 Medical Spa State of the Industry Report, providing valuable insights into how medspas across the country are performing.
Here, we’re sharing highlights to help you see where your business stacks up—and to give you a quick look into what’s trending.
Key Stats and Industry Benchmarks
1. Revenue Trends and Growth Opportunities
The report reveals that medspa revenues continue to grow steadily. According to AmSpa, the average medspa now generates around $1,398,833 per year, which is a 6.98% increase from 2022 findings.
- Pro Tip: Think about how your revenue aligns with this benchmark. Are you above, below, or on par with the average? Knowing where you stand can highlight new growth opportunities.
2. Most In-Demand Treatments
Certain treatments are trending more than others. For example, injectables and laser treatments are top choices among clients.
- Consider focusing on these treatments in your marketing if you offer them, as client interest is likely high.
3. Demographics: Who’s Your Audience?
The average medspa client is between 35 and 55 years old at 54%. 89% of all medspa clients are female. Understanding your client demographics can help refine your messaging and service offerings.
- Knowing your audience helps in tailoring your offerings and content for better engagement and satisfaction.
4. Patient Retention: Building a Loyal Clientele
One key measure of success for medspas is patient retention, and the latest numbers show a promising trend. According to the AmSpa report, 73% of medspa patients are now repeat clients, up from 65% in 2022. This significant increase suggests that medical aesthetics are becoming an established part of many people’s routines, with more clients viewing medspa treatments as essential to their self-care and wellness practices.
- Retention Insight: As this trend continues, medspas with strong client loyalty programs and consistent quality in services are likely to see even higher retention rates, setting them apart in a competitive market.
By focusing on retention, medspas can ensure that they’re building lasting client relationships, which, in turn, leads to greater revenue stability and client satisfaction.
How to Compare Your Medspa
Take a moment to assess how your business compares to these industry benchmarks. Knowing your standing can help you make informed decisions on where to invest time and resources for maximum growth.
See How You Compare:
For an interactive snapshot of these numbers and to see where your medspa stands, check out The Medspa Health Check. It’s a great way to benchmark yourself in just a few clicks.
Access the Full AmSpa Report for Comprehensive Insights
The AmSpa report dives deep into much more than just these highlights. If you’re looking for detailed data to shape your business strategy, explore the full report here. It’s an investment that can provide actionable insights for the year ahead.
Disclosure: This summary is based on information shared by AmSpa. For more in-depth data, we recommend purchasing their complete report.
