The laser method is the predominant procedure in tattoo removal market owing to the advancement in laser technology including Q-switched ruby laser, Q-Switched Nd-YAG Laser and Q-Switched Alexandrite Laser, which has made tattoo removal easier and less painful apart from erasing different colored pigments effectively.
The leading key players in the global Tattoo Removal Market report are Asclepion Laser Technologies GmbH, Cutera Inc., Cryomed Aesthetics, LUMENIS and Fotona d.o.o., Alma Lasers, BISON MEDICAL, Cynosure Inc., Eclipse Lasers Ltd., Syneron Inc.
These market players adopted several market strategies such as partnerships, mergers & acquisitions, and new product launch to maintain their foothold in the market.
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According to the report, the global tattoo removal market was pegged at $11.61 billion in 2016 and is estimated to reach $27.32 billion, registering CAGR of 12.7% from 2017 to 2023.
Increase in number of people who wish to remove tattoos owing to personal reasons and ethical issues against tattooing have boosted the growth of the global tattoo removal market. However, high cost of tattoo removal procedures hampers the market growth. On the contrary, rapid technological developments in tattoo removal procedures such as intense pulsed light therapy expected to create lucrative opportunities for the market players in the coming future.
According to tattoo removal procedures, the report splits into laser, surgical, creams, and others. The laser procedure segment held the largest share in the market, contributing more than half of the total market revenue, owing to various advantages offered by laser machines making the procedures safer and reliable. The other segments are also expected to portray gradual growth during the forecast period.
Based on end user, the report is bifurcated into hospitals, clinics, and others. The tattoo removal clinics segment is expected to garner largest market share and portray the fastest growth rate, owing to better service quality and skilled personals to remove tattoo available in the clinics.
On the basis of region, the report is divided into North America, Europe, Asia-pacific, and LAMEA. In 2016, North America and Europe together garnered about half of the total market share. In fact, the U.S. has held the largest market share and manifested the fastest growth rate during the forecast period, owing to high disposable income and rapid technological advancements. The global tattoo removal market report analyzes other regions including Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA).