Tattoo Removal Market Overview
Tattoo removal is a process of removing tattoos without leaving any scars or other visible marks on the body. Tattoos are used as a medium of expression by men and women alike. But the strict regulations on its display by corporations and firms have led to demand for tattoo removal processes. The global tattoo removal market report by Market Research Future (MRFR) takes a look at the various policies enforced by corporations, processes for ink removal, and other challenges for the period of 2018 to 2023 (forecast period). The sudden outbreak of the COVID-19 virus and its impact on the industry is a point of discussion in the report.
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Tattoo Removal Market Dynamics
As per MRFR analysis, the global tattoo removal market is expected to reach USD 4,794.9 million by 2023. It is pegged to display a CAGR of 15.6% over the forecast period.
The market is set for a momentous growth streak owing to strict policies regarding body inks in the corporate sector. The exponential increase of tattoos among the young and old and the decisions to remove tattoos can be lucrative for the market. Emergence of tattoo parlors and the large potential for removing tattoos per customer will lead to high investments.
Huge demand for non-invasive and minimally invasive treatments for tattoo removal can be opportune for the market. Laser systems such as Q-Switched Alexandrite, Q-Switched ruby laser, and Q-Switched Nd-YAG lasers have been introduced in the market for safe removal of colored tattoos.
But complications pertaining to tattoo removal and risk of acquiring diseases can hamper the market growth.
Tattoo Removal Market Segmentation
The global tattoo removal market has been segmented into treatment method and end-user.
By treatment method, the market has been divided into laser therapy, surgical method, and topical creams & others. Laser therapy accounts for the largest market share of 66% in the global tattoo removal market. By treatment method, laser therapy holds maximum market share in 2016 due to the widespread availability and use of the laser devices. Its use in the effective and safe removal of tattoos can spur the segment growth till 2023.
End-users of tattoo removal devices include laser centers, dermatology clinics, and others. Laser centers are expected to dominate the global tattoo removal market. It accounted for a market value of USD 895.2 million in 2016. The popularity of the laser therapy over other methods for tattoo removal and services provided by specialty laser centers over regular dermatology clinics are responsible for the growth of this segment during the forecast period. On the other hand, dermatology clinics can garner significant revenue for the market owing to skilled professional ensuring minimal scarring, no loss of skin texture, and avoidance of wounds.
Tattoo Removal Market Regional Analysis
The global tattoo removal market, based on region, is divided into the North Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America is estimated to dominate the global tattoo removal market during the forecast period and accounted for the largest market share of 39.6% in 2016. This large share is majorly due to the presence of a large number of tattoo parlors in the region. There are approximately 12,000 tattoo studios in just the US. Moreover, high disposable income levels of the population and availability of advanced tattoo removal procedures can foster the market in the region.
Asia Pacific (APAC) is estimated to be the fastest-growing market at 16.2% CAGR due to the importance of tattoos in countries such as China and Japan as a part of their tradition and increasing per capita disposable income levels.
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Tattoo Removal Market Key Players
The leading participants in the global tattoo removal market are Dimyth, Lutronic, Astanza, Cutera Inc., CynoSure, Quanta System SpA, and Syneron Medical Ltd.
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