The global tattoo removal market was estimated at $11.6 billion in 2017 and is expected to hit $27.3 billion by 2023, growing at a CAGR of 12.7% during the forecast period, according to the report published by Allied Market Research. The report, titled, “Tattoo Removal Market by Procedure (Laser, Surgical, Creams, and Others) and by End User (Hospitals, Clinics, and Others) – Global Opportunity Analysis and Industry Forecast, 2017-2023.”
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It enables the interested business owners and individuals understand the entire market with the help of key industry insights. It provides an overview of the drivers, restraints, and opportunities impacting the industry. It discusses the market size and share, top pocket investments, segmentation, and technology trends that are currently dominating the market. It also provides information about the leading players operating in the market.
Changes in lifestyle & trends and rising vogue to remove tattoo for various social as well as personal reasons have fueled the growth of global tattoo removal market. On the other hand, high prices associated with tattoo removal have happened to curb the growth to some extent. However, high-end technological advancement in tattoo removal methods has created multiple opportunities in the segment.
The report emphasizes on the various segments of global tattoo market. The market is segmented into Procedure, End User, and Region. Based on Procedure, the market is divided into Laser, Surgical and Creams and Others. The report splits the Laser segment into Active Laser and Passive Laser, and the Surgical segment into Dermabrasion and Surgical Excision. The End User analysis of the market covers the divisions such as Hospitals, Clinics and Others. The market is analyzed across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA).
Based on region, North America accounted for nearly half of the total market share in 2016, registering the highest CAGR of around 13.3% during the forecast period. Europe grew at a significant CAGR of 12.8% and emerged as the second highest share holder in the global market, owing to rise in regrets for tattoos followed by increase in demand for its removal.
The key players in the global tattoo removal market are extending the scope of their business operations in the developing countries by including innovative products in their product portfolios. The report includes a detailed competitive analysis of the major market players, such as Asclepion Laser Technologies GmbH, Fotona d.o.o. lma Lasers, Cutera, Inc., Cynosure, Inc., Cryomed Aesthetics, Eclipse Lasers Ltd., LUMENIS, BISON MEDICAL, and Syneron Inc. These market players have adopted various strategies including expansion, mergers & acquisitions, partnerships, collaborations, and others to gain a strong position in the market. The other players include Quanta Aesthetic Lasers USA, Astanza Laser, AYALASERS, LUTRONIC, Light Age Inc., Advance Medical Systems, WONTECH, Yuwei Laser Technology Co., Ltd., and Dimyth Beauty Equipment Manufacturer.
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