Market Drivers and Restrains
The surge in ‘tattoo regret’ trend among millennials and Gen Z is observed to drive the demand for tattoo removal procedures. Several companies across the world are enforcing strict corporate policies regarding tattoos, especially those are visible, as they come across as unprofessional. The increase in social issues due to tattoo can contribute to the tattoo removal market upsurge. The increase in the utility of tattoo removal lasers due to the introduction of pulsed light therapy, dermabrasion, plastic surgery, and chemical peels solutions and their growing popularity owing to non-invasive, safe, and effective benefits can favor the tattoo removal market growth. On the contrary, scar and pain-related problems can weaken the demand for tattoo removal procedures as they involve several sessions for one treatment. In addition, even after removal of tattoo, tissue damage that occurs during the process can remain as scars, which, in turn can impede the tattoo removal market rise. Solutions to this surfacing problems remain as a challenge to top players in the near future. Thus, they are funding extensive research to develop effective technologies that can address the issues.
Market Research Future (MRFR) assessed the global tattoo removal market 2021 through the analysis period. As MRFR finding, the tattoo removal market is expected to touch USD 4,794.9 Mn by 2023. The report on the tattoo removal market published by MRFR offers insights that assist start-ups in expanding their business and existing giants to garner high revenue.
The segment evaluation of the tattoo removal is done by end users and treatment. The treatment-based segments of the tattoo removal market are topical creams, surgical method, and laser therapy among others. The end-users-based segments of the tattoo removal market are dermatology clinics and laser center.
The laser therapy segment is expected to gain considerable traction due to the non-invasive nature of the treatment method. The growing sales of topical creams and inclination towards laser therapy can promote the market growth. The laser therapy segment is expected to hold about 66% share of the global market due to the increasing availability of advanced laser devices and the provision it offers to provide effective tattoo removal solutions. Numerous brands are investing in robust marketing strategies for promoting laser tattoo removal facilities and boost their customer base to gain global foothold.
In North America, the tattoo removal market is expected to expand at high pace and acquire 39.6%. CAGR in the years to come. The rapid expansion of the tattoo removal market in the region can be attributed to the surge in count of well-equipped tattoo parlors. The rise in number of people purchasing innovative tattoo removal products is expected to benefit the market in North America region. In South America, the tattoo removal market is expected to surge at expand with decent CAGR. The rising popularity of medical spa and increase in number of beauty centers in can favor the regional tattoo removal market expansion. In addition, the introduction of new tattoo removal services in clubs, coffee shops, and different youth attractions can promote the market upsurge in the approaching years.
The tattoo removal market in Asia Pacific is expected to benefit the market rise in the years to study tenure. China is expected to contribute largely to the regional tattoo removal market. A large pool of people are contributing to replace existing tattoos. The evolving of tattoo art and design trends and their growing demand among youngsters can favor the regional market. MRFR data suggests that APAC market is expected to thrive at 16.2% CAGR in the near future.
Innovations launched by new marketers is intensifying competition with existing players those trying to extend their global reach. Firms are are deeply involved improving their existing technologies and products to provide better facilities to customers. This can benefit the tattoo removal market in the near future. Dimyth (China), Cutera Inc (US), Syneron Medical Ltd (US), Cynosures (US), Quanta System SpA (Italy), Astanza (US),and Lutronic (US) are some major players in the tattoo removal market that are listed by MRFR.