Tattoos are a public display of cultural artistry and significance to the people in the region. Lately, making of tattoos have evolved into a mammoth industry with large number of studios and tattoo artists rising to prominence. Removal of tattoos or markings etched on the skin has become a large concern as young adults join the corporate or military sector. The global tattoo removal market report by Market Research Future (MRFR) contains strengths, weakness, opportunities, and threats which have been compiled by analysts and cross-checked against respected databases.
Tattoo Removal Market Overview
Global tattoo removal market is slated to display a CAGR of 15.6% from 2017 to 2023 (forecast period). It can touch a value of USD 4,794.9 million by 2023. Major drivers include quality of tattoo ink, employment policies regarding tattoos, changing attitudes pertaining to getting tattoos, and personal preferences. Stringent corporate policies and military recruitment polices are other drivers which can create demand in the market. Errors during physical scans due to tattoos is one of the reasons for its ban in the military.
However, high expenses for laser therapy and concerns of attaining scars after treatment are factors which can hamper the market growth.
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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. The laser therapy accounts for the largest market share of 66%, of 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, and the effective removal of the tattoos using these lasers as compared to other methods.
On the basis of the end user, the tattoo removal market has been segmented into laser centers, dermatology clinics, and others. The popularity of the laser therapy over other methods for the tattoo removal and services provided by the specialty laser centers over regular dermatology clinics are responsible for the growth of this segment during the forecast period. On the other hand, the laser centers segment accounted for a market value of USD 895.2 million in 2016. The use of Q-switched lasers for removing tattoo pigments are likely to drive the segment growth during the forecast period.
Tattoo Removal Market Regional Analysis
Asia Pacific (APAC), North America, Europe, and the Middle East & Africa (MEA) are the regions discussed with respect to the market report.
North America accounted for 39.6% share of the market in 2016 and touted to dominate as the leading region. The large number of tattoo parlors and tattoo studios are evidence of the large potential for the global tattoo removal market. High disposable income levels of customers can also play a major role in the market growth. The region of Europe is likely to showcase a CAGR of 15.8% during the forecast timespan.
The APAC region is likely to exhibit 16.2% CAGR during the forecast period due to economies of Japan and China and high frequency of customers getting inked. However, the MEA region may experience dull growth due to limited access to lasers and low volume of studios.
Tattoo Removal Market Competition Outlook
CynoSure, Astanza, Dimyth, Cutera Inc., Quanta System SpA, Syneron Medical Ltd, and Lutronic are noteworthy participants of the global tattoo removal market. Launch of novel products and acquisitions are strategies adopted by players in attaining a larger market share.
Tattoo Removal Industry News
The development of picosecond lasers is likely to culminate in heightened growth in the global tattoo removal market. The process is known to cause transdermal elimination of tattoos with the rest of the markings being eliminated by rephagocytosis. Nd:YAG lasers are used for handling red and black colors, while alexandrite lasers work for blue and green inks.
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