Global Tattoo RemovalMarket – Overview
Tattoo is an indelible design (skin work) made on the body by inserting ink, dyes and pigments, into the dermis layer of the skin. On basis of its type tattoos are of 3 types: pictorial (a depiction of particular thing); purely decorative (no meaning); symbolic (has a special meaning to the wearer). Historically, tattoos were considered uncivilised art, however this stigma has been dismissed and now is accepted by the all people of different strata of society. Earlier, tattoos served as identification marks, marks of rank, religious and devotional symbols, decorations for bravery, sexual lures and marks of fertility, pledges of love, and symbols for protection and punishment. Now days, tattoos symbolize religious, cosmetic, artistic, sentimental/memorial, and magical reasons. Previously, tattoo removal methods were acid treatments, dermabrasion, cryosurgery, and skin grafting. However due to technological advancements tattoo removal is now even more easy.
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Global tattoo removal market is expected to grow at a CAGR of 15.6% during forecasted period 2017-2023.The tattoo removal market is going to grow rapidly during the forecast period. The key factor influencing the growth of the market is high prevalence of “tattoo regret”. Also, the increasing tattoo trend will enhance the growth of tattoo removal market. According to Astanza Lazers, 45 millions of Americans sport atleast one tattoo, 36% of 18-25 years old, 30 % of college graduates, and 40% of 25- 40 years old people possess a tattoo. Inked Mag reported that annually Americans spend one thousand, six hundred and fifty billion dollars on their tattoo addiction. Advanced technology and reduced side effects of tattoo removal is likely to enhance the market growth. However, the cost of tattoo removal is many times higher that tattoo application, therefore high cost of the treatment and associated side effects may hinder the growth of the market.
Prominent market players:
WONTECH, Astanza, Cutera Inc, CynoSure, Dimyth, Lutronic, Syneron Medical Ltd., and Quanta System S.p.A…
Global Tattoo Removal Market – Competitive Analysis
There are various market players operating in tattoo removal market. The tattoo removal market appears to be highly competitive. Tattoo removal market can be segmented into laser therapy, bisphosphonate liposomal tattoo removal, nanotechnology tattoo removal and cryogenic devices. The companies are building up their market by producing innovative solutions for tattoo removal treatment. Some of the prominent market players are Extatin, WONTECH and Cutera Inc.
Founded in 2008, Extatin a biotechnology company, headquartered in Toronto, is developing a topical cream for tattoo removal treatment using nanotechnology. The company boasts about its topical tattoo removal treatment which is non-invasive and non-ablative (scar-free). The company’s research consortium includes Sunnybrook Research Institute, the MaRS Innovation Centre and Discovery District advisory services, and other major research institutes. In October 2017, the company completed its phase 1 of its 3 phased pilot study project. This accomplishment of phase 1 studies would increase research grants for the company thus enhancing its product development process.
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WONTECH, established in 1998, is a laser and energy-based aesthetic device company. In June 2017, The Company announced U.S. Food and Drug Administration 510(k) clearance of picosecond laser device, PICOCARE, for tattoo removal treatment. PICOCARE features multiwavelength 1064nm, 532nm, 595nm, and 660nm and erases pigments with minimum skin damage. With this development WONTECH emerges as a dark horse in U.S. market. This will enable the company to widen its geographical boundaries and ehance its product portfolio.
Founded in1998, Cutera Inc., a biotechnology company, headquartered in California, U.S. is a pioneer in cosmetic & aesthetic laser equipment. In December 2016, the company announced the launch of PICO Genesis procedure. Pico Genesis is the laser equipment that enables longer (2 nanoseconds) as well as shorter (750 picoseconds) pulse durations; thus allowing tattoo removal treatment at every spot. A picosecond duration is thousand times shorter than the nanosecond pulse duration that is used in existing lasers for tattoo removal. Enlighten Pico Genesis have proven to remove tattoos more efficiently and in less treatment sessions than traditional lasers. Furthermore, in November 2014, the company announced U.S. Food and Drug Administration 510(k) clearance for its Enlighten laser platform. The system possesses a dual wavelength and dual pulse duration laser, which operates at pico-second and nano-second to remove a boad variety and colour range of tattoos, ink components and even other skin discolorations. Enlighten system takes around 3-6 sessions to erase the tattoo, it is pain less and less destructive tattoo removal treatment. With this approval, the company aims to focus on patient needs and increase its customer base.
Major TOC of Tattoo Removal Market Research Report – Global Forecast to 2023:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Tattoo Removal Market, By Treatment Method
7 Global Tattoo Removal Market, By End User
8 Global Tattoo Removal Market, By Region
9 Competitive Landscape
10 Company Profile
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