Tattoo Removal Market to Estimated USD 4,794.9 Million Growth by 2027
Research Reports
Apr 12, 2022
Market Research Future (MRFR) projects the Tattoo Removal Market to be valued at USD 4,794.9 Million by 2027. The tattoo removal industry benefits from the escalating demand for laser therapy, rapid increase in aesthetics procedures, and the emerging demand for non-invasive procedures.
‘Tattoo regret’ has become a common occurrence among millennials, which should propel the market demand in the ensuing years. The B&T Magazine has revealed that close to 30.6?males and roughly 28.7% males opt for tattoo removal while over 40.0% of those aged between 18 and 21 with tattoos regret their decisions.
A vast range of tattoo removing techniques, including pulsed light therapy, laser therapy, plastic surgery, chemical peels, and dermabrasion are gaining prominence among consumers. Most of these techniques are safe, non-invasive, and effective. As a result, the mounting popularity of the said techniques and the emerging demand for non-invasive procedures are bound to create a favorable business scenario for the tattoo removal market in the future.
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Market Segmentation
There are a series of treatment methods available in the market, some of which are laser therapy, topical creams, surgical method, and many more. Laser therapy has grabbed the biggest portion of 66% in the worldwide industry, resulting from the emergence of innovative laser devices, and the benefit of precise tattoo removal with lower invasiveness. Laser therapy is touted to be the future of tattoo removal, considering the surging trend of minimally invasive procedures.
Major end-users in the global market for tattoo removal include dermatology clinics, laser centers, among others. Laser therapy has garnered significant popularity in the tattoo removal market. As a result, the laser centers section touched USD 895.2 Million in 2016 and will remain in the lead all through the appraisal period.
Regional Insight
North America will be covering considerable grounds in the next several years, and attain the highest position in the global market. At present, the region accounts for the highest share of 39.6%, thanks to the soaring number of tattoo parlors that use cutting-edge technologies and products. The high disposable incomes of the consumers in the region coupled with the booming sales of the latest tattoo removal products will also favor the regional industry in the coming years. On the other hand, the South American market for tattoo removal will be quite lucrative in the years ahead, as a result of the mounting popularity of beauty centers and medical spa, as these are generally located close to well-frequented coffee shops, clubs, and several youth attractions.
APAC can be a promising market, given the companies’ rising focus on adopting strategies including partnership, mergers and acquisition to strengthen their position in the region. The huge demand for tattoos in Japan and China combined with the improving financial conditions in these countries can be accredited for the business growth. A burgeoning population is looking for different designs to replace the existing tattoos, in the wake of evolving art trends. India happens to be another lucrative market in the region, due to the mounting number of youths going for modern designs and the rising awareness about the latest devices. In view of these growth boosters, it is expected that the Asia Pacific market will be thriving at a rate of 16.2% from 2020 to 2027.
Top Firms
Quanta System SpA (Italy), Cutera Inc (US), Dimyth (China), Lutronic (US), Astanza (US), Cynosures (US), Syneron Medical Ltd (US) are the top tattoo removal products and solutions developers considered in the MRFR study.
Latest Developments
October 2021
LaserAway, an eminent developer of aesthetic dermatology, has confirmed its partnership as well as funding by the Private Equity Group of Ares Management Corporation. LaserAway is known for its extensive portfolio of services, including laser tattoo removal, laser hair removal, body contouring, laser skin rejuvenation, injectables, and skin tightening across 74 clinics in the United States.
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