Global Tattoo Removal Market: Information By Treatment (Laser Therapy, Surgical Method, Topical Creams and others), By End-User (Laser Center and Dermatology Clinic) - Forecast till 2027
Global Tattoo Removal Market to Demonstrate a CAGR of 15% From 2017 to 2023
Over the years, skin tattoo as fashion trend as grown considerably all over the world. This has also led to an increased demand for tattoo removal procedures. Market Research Future (MRFR) is expected to exhibit a compound annual growth rate (CAGR) of 15.6% between 2017 and 2023. The market is expected to surpass a valuation of USD 4,700 Mn towards the end of forecast period.
Tattoo culture is present all over the world in various forms such as body art, fashion, tradition, etc. It is popular among both young generation and elderly popularly. However, many a times, the tattoos may not give the desired satisfaction which subsequently requires removal procedures. The reasons for tattoo removal can vary from person-to-person. Advances in removal technologies has encouraged more people to opt for such procedures. Emphasis is being placed on developing effective laser technologies that are less painful and cost-effective. The aforementioned factors are propelling the global tattoo removal market.
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Global Tattoo Removal Market: Segmental Overview
The segmental analysis of the market has been conducted on the basis of treatment method and end user.
Based on treatment method, the market has been segmented into topical creams, surgical method, laser therapy and others. The laser therapy segment is expected to remain highly attractive during the forecast period. The segment accounted for close to 66% market share in terms of revenue in 2016. Based on end user, the market has been segmented into dermatology clinics, laser centres and others. In terms of revenue, the laser centers segment make a significant contribution to the global tattoo removal market. In 2016, the segment represented 60.9% share of the market.
Global Tattoo Removal Market: Regional Segmentation
The regions discussed in the report include North America, Asia Pacific (APAC), Europe, the Middle East & Africa (MEA), and South America. Off these, the North America tattoo market is expected to post a strong growth rate during the forecast period. A strong tattoo culture in the countries such as the U.S. and Canada is somewhat attributed to the high demand for tattoo removal procedures in the region. In Addition to that, the presence of most of the major market players in the region remain favourable for the North America market. The region boasts a high service quality and access to latest removal technologies. By the year 2023, the market in North America is expected to touch a valuation of USD 1,944.4 Mn. Europe also represents a fast-growing market for tattoo removal. Having tattoos continues to be a prominent fashion trend among many Europeans, which also creates demand for tattoo removal procedures. The Europe tattoo removal market is expected to witness a sound growth during the forecast period. Asia Pacific (APAC) is the third largest market for tattoo removal. Growing influence of western fashion and increased popularity of tattoo in countries such as China and India are some of key factors supporting the market growth in APAC. During the forecast period, the market is expected to grow at 16.2% CAGR in APAC.
Global Tattoo Removal Market: Competitive Landscape
Cutera Inc, Astanza, Dimyth, Syneron Medical Ltd., CynoSure, Quanta System S.p.A., and Lutronic are among the leading companies operating in the global tattoo removal market.
- Soliton, Inc. (“Soliton” or the “Company”), a Canadian medical technology company has reportedly developed a second-generation acoustic shockwave device. This device can be used for delivering a variety of treatment, which tattoo removal and cellulite reduction. The device is expected to undergo clinical trials and yet to receive premarket approval by the U.S. food & drugs administration.
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