Tattoo Removal Market 2018 Global Shares USD 4,794.9 million with CAGR of 15.6% by 2023
Aug 1, 2018
Exclusively Available at MarketResearchFuture.com with titled Tattoo Removal Market. By Major Industry Trends, Business Analysis, Major Segments and Sub segments. Tattoo Removal Market is expected to grow at the rate of about 15.6% from 2018 to 2023.
Pune, India - August 1, 2018 /MarketersMedia/ —
Market Highlights:
Market Research Future (MRFR) analysts forecast that the global market for tattoo removal is projected to reach the value of USD 4,794.9 million by 2023. The market is exhibited to have a brilliant run registering CAGR of about 15.6% during the forecast period (2017-2023). The tattoos market is expanding at a remarkable rate which leads to an upsurge in the tattoo removal market as well. Many of the tattoo removal cases are due to tattoos being made due to hasty decisions. Moreover, as the body grows older, the shape and size of the tattoo changes as well, this triggers the need to remove it. In addition, changing trends also affect the market for tattoo removal positively. Furthermore, employment policies in many offices around the world regarding tattoos, military recruitment policies, errors caused by the tattoo ink in digital body sensing devices, and poor artwork leading to bad quality tattoos have resulted in continuously evolving market. On top of this, changing lifestyle and modern technology for tattoo removal appeals to the customers to get rid of their tattoos, positively shaping the global market size.
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Although the market is soaring high globally due to many positive factors, side effects associated with tattoo removal procedures can impede this growth in the coming years. On the other hand, technological advancement of laser methods results in the development of new ways to remove tattoo like intense pulsed light therapy, which unlocks new opportunities for the growth of the market.
Market Segmentation:
The global tattoo removal market is segmented on the basis of treatment method, and end-user.
The treatment methods mentioned in the report are laser therapy, surgical method, topical creams and others. Among these, the laser therapy claimed the largest market share of a whopping 66% of total market in 2016. Laser therapy is continuing to grow in popularity as it is the only safe and non-invasive solution to unwanted ink and deal with tattoo regret.
The end-users in the global market are laser centers, dermatology clinics, and other. The segment of laser centers dominated the global market claiming the largest market share of 60.9% in 2016. The laser centers deal with a large population who want to remove tattoos due to the immense popularity of the laser therapy. Laser therapies are cost-effective, and are non-invasive, on account of these advantages a large number of population prefer laser techniques and make way to laser centers to get the treatment done.
Tattoo Removal Market - Regional Analysis:
The global tattoo removal market is split amongst regions namely North America, Europe, Asia Pacific and Middle East & Africa.
Among all regions, North America is the largest market for tattoo removal. The market is thriving in the region primarily due to the large number of tattoo studios in the United States and the immense popularity of tattoo among a large population in the region. The awareness about tattoo removing procedures shifts the focus from invasive to minimally invasive (MI) and non-invasive procedures in the region. Furthermore, presence of large population consisting of youth who show interest in getting tattooed and hasty decisions also affect the market size positively in the region.
Globally, the Europe market has secured the second position with the second-largest market, reason being recent advancements in the laser technology and the increasing popularity of the laser technology in countries in the region.
The MRFR experts also estimate that the Asia-Pacific market is bound to grow the fastest due to continuous technological developments in developing economies such as India and China. The fact that China and Japan have historical cultural connection with tattoos works in favor of the regional market growth. Burgeoning population regretting and demanding to get their tattoos removed is boosting the tattoo removal market in the region.
However, the Middle East & Africa regions discourage and to some extent, prohibit the art of tattoo making, which is one of the major reasons for the poor performance of tattoo removal market in the region. Moreover, being price-sensitive regions, affordability issues crop up along with exhibition of hesitation by people towards body aesthetics, factors which have led to the sluggish market growth in the region.
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Source: MarketersMedia
Release ID: 386882
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