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April 2025
The thermal spa and wellness market accounted for USD 287.19 billion in 2024 and is expected to reach around USD 422.67 billion by 2034, with a CAGR of 3.94% from 2025 to 2034. The demand for thermal spas and wellness is rising due to the rising stressful lifestyles that lead towards the increasing stress relief therapies.
A thermal spa and wellness refers to the use of a facility that uses the therapeutic properties of heated mineral water for relaxation and health purposes. These facilities usually include minerals like sulfur, magnesium, bicarbonate and calcium, which help in providing therapeutic benefits. The thermal spa & wellness market is growing rapidly due to the rising consumer awareness regarding the benefits of spas.
The demand for wellness is also increasing due to the rising focus on emotional, physical and mental health. These facilities include saunas, massage therapy, movements like yoga, Pilates and many more. The rising urban stress and lifestyle among individuals are playing a transformative role in the growing popularity of therapeutic solutions.
| Report Attributes | Details |
| Market Size in 2025 | USD 298.51 Billion |
| Expected Size in 2034 | USD 422.67 Billion |
| Growth Rate | CAGR of 3.94% |
| Base Year in Estimation | 2024 |
| Forecast Period | 2025-2034 |
| Dominant Region | North America |
| Segment Covered | By Treatment Type, By Facility Type, By Age Group, By Consumer Preference, By Consumer Group, By Region |
| Key Companies Profiled | Aman Resorts, Blue Lagoon, Brenners Park-Hotel & Spa, Caribbean Thermal Spa, Chiva-Som International Health Resort, Spa Resorts International, Steiner Leisure Limited, The Ritz-Carlton Hotel Company, L.L.C., The Wellness Source, Thermae Bath Spa, Voya Organic Beauty, Four Seasons Hotels Limited, Kempinski Hotels, Lanserhof, SIX Senses Hotels Resorts Spas |
Growth of Medical Wellness Tourism
The rapid shift in lifestyles has created various business opportunities in the healthcare and wellness services. The thermal spa and wellness market has been attracting significant demand in recent years due to the rising healthcare costs in developed countries, which are providing business opportunities for companies in other regions. Additionally, the global companies are entering these regions that provide various services at lower costs. Additionally, the individuals in these regions are taking preventive healthcare, which creates a rapid demand for various therapies. The governments in these developing regions are also promoting wellness tourism to boost their economic growth.
Limited awareness in rural areas
The major reason behind the growing popularity of spa and wellness therapies is the rising digital presence of these services. The majority of these services are based in the urban areas, which restricts the accessibility to the rural population. The limited social media awareness in these regions are the major restraining factors which hamper the market growth. Additionally, companies are not expanding in these regions due to the lower social acceptance rate in the rural areas.
North America dominated the global thermal spa and wellness market by generating the highest revenue share in 2024. The dominance of the region is attributed to the established business base of the wellness resorts, which attracts a wider population from the region. The demand for wellness trends has significantly risen in recent years due to the rising disposable incomes in countries like the United States and Canada. The individuals are preferring these therapeutic solutions that can help in maintaining their physical and mental health.
The United States stands as a dominant player in the North American market due to the higher number of international tourists. For instance, in 2023, the country witnessed 66.5 million international tourists, a rapid boost from 50.87 million in 2022. These factors are creating a significant demand in the thermal spa and wellness market due to the rising opportunities for the resorts and other wellness centers.
Additionally, the U.S. government and health insurance companies are also focusing on promoting these treatments that can help improve the overall well-being of individuals. Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period of 2025 to 2034. The growth of the region is attributed to the increasing urbanization in countries like China, Japan and India, which attracts a significant consumer base towards health and wellness.
The thermal spa and wellness market is expanding rapidly due to the increasing popularity among the younger population, which are preferring thermal spas to boost their mental and physical health. The rising disposable incomes are also attracting business from the elderly population, which increases investments in luxury trends. Japan stands as a promising country in the Asian market due to the dominance of its rich culture of natural hot springs (onsen). Additionally, the rising tourism in the country is also leading towards the rising demand for luxurious resorts which provide these services.
The government in the country is also taking initiatives to promote wellness tourism, which aims to boost the strategies to attract a significant consumer base. The country also witnessed around 25.07 million tourists in 2023, which is helping in the increasing popularity.
The massage therapy segment accounted for the highest revenue share in 2024. The therapy includes engaging the muscles and soft tissues of the body by using hands, elbows, fingers and other devices, which helps in improving the blood circulation and also promotes relaxation. The thermal spa and wellness market is growing rapidly due to the wider appeal of the segment, which is popular among various populations.
The treatment helps in targeting pain management and injury recovery, which helps in gaining wider popularity. Many individuals are purchasing monthly and annual packages for these therapies, which provides a significant business ground for the emerging companies, especially in developing economies.
The hydrotherapy segment is anticipated to grow at a notable CAGR during the forecast period of 2025 to 2034. The therapy uses hot, cold, ice or steam water for muscle relaxation and pain relief. The rising popularity of mineral spring bathing is growing due to the rise of social media platforms, which attract a wider consumer base.
The thermal spa and wellness market is expanding rapidly due to the rising tourism, which leads towards the adoption of hot spring centers. Many scientific studies and reports are also promoting these therapies as they help in curing joint pain, mental health and many more.
The thermal spa segment marked its dominance by generating the highest revenue share in 2024. These facilities are based around natural thermal springs that provide various treatments like mineral baths, mud therapies, steam rooms and many more. The dominance of the segment is attributed to the rising digital presence of these companies, which are playing a vital role in promoting their cultural significance.
These factors are resulting in the growth of the region, which boosts tourism in the country and also promotes its economic health. Many countries in the Asian region are building luxurious resorts and wellness centers that are attracting a wider tourism population from European and North American countries.
The medical wellness segment is anticipated to grow at the fastest CAGR during the forecast period of 2025 to 2034. These facilities include various services like physiotherapy, hydrotherapy, detox and many others. The thermal spa and wellness market is growing rapidly due to the rising consumer health awareness, which leads towards various initiatives to manage their lifestyles.
The aging population is helping in attracting significant revenue for physiotherapies and other wellness programs, which boosts the business among the medical wellness providers. Many insurance companies are aiming to cover these initiatives, like rehabilitation and detox, which will help in future growth.
The 19 to 35 segment marked its dominance by generating the highest revenue share in 2024. The dominance of the segment is attributed to the higher focus on self-care that promotes businesses in the thermal spa and wellness market. The age group is also the highest among the working professionals, which creates a wider base for various physical and mental well-being.
The corporate sector is also promoting these health initiatives by implementing various programs that help the market grow more rapidly. Additionally, the region also dominates in the social media user base, which creates a higher willingness to spend on self-care therapies. The growing travel and tourism trend is anticipated to mark more revenue in the coming years.
The 36 to 50 segment is anticipated to grow at the fastest CAGR during the forecast period of 2025 to 2034. The rising focus on preventive healthcare is one of the major factors that is playing an influential role in the market growth. The higher disposable income of the age group is also promoting their willingness to spend on their physical and mental health. Additionally, the changing lifestyles are creating various conditions like joint pain, muscle pain and others, which helps in creating a business ground for the wellness providers
The budget-friendly experience segment marked its dominance by generating the largest revenue share in 2024. The dominance of the segment is attributed to the wider target population of these pricings, which helps individuals to opt for these services. The thermal spa and wellness market is expanding rapidly due to the frequent visits for budget-friendly services, which help individuals manage their expenses. The rising consumer preferences for massages, thermal baths and other services are increasing rapidly in developing economies, which is expected to target a wider consumer base in the coming years.
The luxury experience segment is anticipated to grow at the fastest CAGR during the forecast period of 2025 to 2034. The rising demand for wellness tourism is anticipated to play a vital role in creating business opportunities for companies to mark significant revenue through premium offerings. The rising focus on the quality of these services is expected to use advanced technologies and products to target a wider user base.
The women segment stood the dominant one as it accounted for the largest revenue share in 2024. The dominance of the group is attributed to the higher interest in self-care and wellness, like massages, thermal baths and other therapies. The thermal spa and wellness market has managed to attract significant revenue through women's spa services, which is still managing to rapid at rapidly. The cultural dominance and social acceptance also stand as major factors, especially in the underdeveloped and developing regions, which play a vital role in the market. The rising developments in various treatments, like anti-aging, are also expected to attract significant revenue in the future.
The male segment is observed to grow at the fastest CAGR during the forecast period of 2025 to 2034. The rising social acceptance of male grooming services like spas and wellness is anticipated to create a rapid revenue ground for the emerging companies. The changing work lifestyles are also attracting men to invest in these therapies that help them enhance their mental and physical health. The thermal spa and wellness market is innovating various services for men that include sports massages, physiotherapies and many others.
Therme Group:
Chalet Hotels
April 2025
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