Market Research Future has released a new report on the Global Tattoo Removal Market which reveals a notable CAGR of 15.6% during the forecast period of 2018 to 2023 with an estimated competitors by the end of 2023.
The Tattoo Removal Market is growing with the rapid pace; mainly due to changing trends, and poor artwork. According to a recent study report published by the Market Research Future, the tattoo removal market is booming and expected to gain prominence over the forecast period growing rapidly.
Tattoos are permanent markings in the skin made by injecting ink using needles into the second layer of skin called dermis. The practice of tattooing is now an acceptable form of body art. Tattoo is sported to mark special events, to pay honor or respect, to celebrate life, choices, and to pay tribute and memorial to life’s purpose and companions. Over the past years, the tattoo has become an attractive, artistic, and expression among the people. Having said that, most of the people getting their skin inked are between the ages 18 to 24. About 80% of these decisions are made from immaturity.
Notably, increasing errors in digital body sensing device monitoring is the key factor driving the tattoo removal market. It is believed that, having a tattoo on the body interferes with the sensor causing difficulty in reading the pulses and other parameters. This leads to the incorrect diagnosis and incorrect results. One of such case is with Apple’s heart rate monitor watch. The apple claims that the heart rate monitor watch cannot detect the correct heart count when the tattoos are there. Other factors such as strict corporate employment policies regarding tattoos, military recruitment policies regarding tattoos, and changing trends, and poor artwork are also fuelling the growth of the market.
Despite these significant driving factors, high of laser procedures, and scars left after the surgical removal of tattoo, and number of sittings for laser treatment are expected to decline the market growth. Among the several types of tattoo removal treatments available in the market, the most effective and most commonly used tattoo removal method is Laser Therapy. However, the Laser therapy is time consuming and it takes multiple sessions to remove the tattoo based on the size and the colour of the tattoo. The more the number of sessions, higher the cost of treatment.
Globally the market for tattoo removal is growing rapidly. Globally the market for tattoo removal is expected to grow at the rate of about 15.6% from 2017 to 2023.
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Global Tattoo Removal Market – Key Players
The major participants of this market are Astanza, Cutera Inc, CynoSure, Dimyth, Lutronic, Syneron Medical Ltd., and Quanta System S.p.A.
Global Tattoo Removal Market – Competitive Analysis
There are numerous large scale and small scale players operates in this market all over the globe.
The companies mainly include the manufacturers of the equipment such as Laser systems, and some of the manufacturers of the topical aesthetic products such as tattoo removal creams and ointments. The major revenue in the market is generated by the Laser centers and cosmetic surgeons working at the dermatology clinics.
Cutera Inc. is one of them by holding a strong share in the market. The veteran laser and optical engineers founded this company. The Cutera is involved in medical aesthetic devices. Company has a wide range of products for face and body medical aesthetic medical devices. Introduction of innovative products have been Cutera’s’s key growth strategy. For instance, in the year 2016, the company has received FDA approval for enLighten III laser.
CynoSure is also one of the leading market player in tattoo removal market. Cynosure is highly innovative company that has 37 U.S patents and markets over 14 different light based systems, representing advanced levels of solid-state, liquid and semiconductor laser technologies. On March, 2017, CynoSure was acquired by Hologic The Science of Sure.
Global Tattoo Removal Market – Segmentation
Tattoo removal market has been segmented on the basis of treatment method which comprises of laser therapy, surgical method, topical creams and others. Laser therapy accounted for the largest market share of 66% of total market in 2016. On the basis of end user, market is segmented into Laser centers, dermatology clinics, and other. Laser centers dominated the global market with the largest market share of 60.9% of the total market in 2016.
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Global Tattoo Removal Market – Regional Analysis
Depending on geographic region, tattoo removal market is segmented into four key regions: North America, Europe, Asia Pacific, and Middle East & Africa. Globally North America is the largest market for tattoo removal. The North America market for tattoo removal is expected to reach at USD 1,944.4 million by the end of the forecasted period. Europe is the second-largest market for tattoo removal which is expected to grow at a CAGR of 15.8%. Asia pacific region is expected to be fastest growing region in tattoo removal market. Middle East & Africa is expected to have limited but steady growth in the market due to the affordability issues and hesitant approach of people towards body aesthetics.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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