Global Tattoo Removal Devices Market: Snapshot
Various tattoo removal devices are witnessing rising demand among adult populations of all ages for the partial or complete removal of tattoo pigments. The demand for dermatology aesthetics is gaining traction in various emerging and developed economies, which in turn has propelled the demand for tattoo removal technologies. The rising need for multicolor tattoo removal that can remove a wide range of pigments for various skin types with minimal discomfort has bolstered the demand for more efficacious devices. Advancements in tattoo removal technologies has led to safe tattoo treatments in less number of sessions, thereby boosting the uptake. Furthermore, the use of better tattoo inks and dermal clearing agents is expected to boost the outcome of tattoo removal devices. The growing adoption of tattoo removal devices in dermatology clinics in numerous developed and developing nations is a significantly trend that augurs well for the market. The market is witnessing the prominence of laser-based tattoo removal devices that can generate potentially high energy and enable large areas of tattoo pigments to be treated.
The tattoo removal devices market stood at US$219.1 Mn in 2016 and is projected to be worth US$321.9 Mn by 2022 end. The market is anticipated to expand at a CAGR of 6.7% during 2017 - 2022.
Laser-Based Devices Anticipated to be Most Attractive Segment
The various product types of tattoo removal devices are laser-based devices, RF devices, and ultrasound devices. Of these, the laser-based tattoo removal devices segment holds the dominant share and is expected to witness prominent demand throughout the forecast period. The segment is forecast to generate US$ 142.6 Mn in the global market, accounting for the leading share of 61.3% by 2017 end. Rising at a CAGR of 6.4% during 2017–2022, the segment will reach a valuation of US$194.6 Mn by 2022 end, representing a share of 60.5% in the market. The annual growth of the segment is pegged annually at US$10.4 Mn over 2017–2022. The dominance of the segment is attributed to an extensive demand for these devices world over for populations of all skin types. Substantial technology advancements in laser-based devices are further fueling the growth of the segment during the forecast period.
North America to Provide Most Lucrative Avenues throughout Forecast Period
The various regional markets for tattoo removal devices are North America, Latin America, the Middle East and Africa, Asia Pacific excluding Japan, Japan, and Europe. Of these, North America is predicted to stay ahead of the pack, holding the major revenue share of the global market. The regional market is projected to rise from US$79.9 Mn in 2017 to reach US$114 Mn by 2022 end. The North America market is projected to rise at a CAGR of 7.4% during 2017–2022. The burgeoning demand for laser-based tattoo removal devices in various parts of the region is a key factor fueling the growth of the regional market.
Europe Market to Rise at Promising Pace
Europe is a promising market for tattoo removal devices and the regional market holds a significant share of 26%, vis-à-vis revenue, by 2017 end. The revenue of the regional market will increase by at almost three times from 2017 to 2022. However, the share of the segment is likely to decline by 68 BPS in its market share by the end of the forecast period.
Some of the key players operating in the tattoo removal devices market are Alma Lasers, Ltd., Fotona d.d., Sciton, Inc., EL.En. S.p.A., Lynton Lasers Ltd., Solta Medical Inc., Lumenis Ltd., Cynosure, Inc., Syneron Medical Ltd., Lutronic Corporation, and Cutera Inc. Several companies are focused on developing advanced devices that enable fast and the safe removal of a variety of tattoo inks, in order to stay ahead of others.
Global Tattoo Removal Devices Market: Overview
The report on the global tattoo removal devices market offers a critical evaluation of key factors and notable trends influencing the growth of the market. The study offers detailed insights into emerging opportunities, major technological advances, prevalent regulatory structure in major regions, prominent pricing and cost strategies, and competitive landscape. The analysis tracks recent developments in major countries that are likely to affect the demand for tattoo removal devices along the forecast period. The research offers intensity map of key participants in various regions to get a critical insight into emerging opportunities and strategic landscape. Furthermore, the findings offered in the study assist market participants to capitalize on emerging opportunities in untapped markets and to strengthen their presence in various regions. The year-over-year (YoY) growth statistics of various product segments during the historical period (2012–2016) across regions help them to have a cursory look at promising segments in these regions. In addition, the market projections of various segments during the forecast period help them identify imminent investment pockets.
The tattoo removal devices market is projected to rise from a valuation of US$232.4 Mn in 2017 to reach a valuation of US$321.9 Mn by 2022 end. The worldwide market is projected to expand at a CAGR of 6.7% during the forecast period (2017–2022).
Global Tattoo Removal Devices Market: Dynamics
The global tattoo removal devices market report provides in-depth assessment of key drivers and restraining factors, notable trends, lucrative avenues, share and size of various segments, their YoY growth across major regions, and changing competitive dynamics. The study offers a granular analysis of recent technological advancements and the strategies adopted by key market players to consolidate their shares. The insights are helpful for an impactful strategy formulation.
The global tattoo removal devices is mainly driven by the rising demand for safe methods for the removal of various types of tattoo inks among adult populations of all age groups. The availability of minimally invasive technologies that cause less discomfort and help in at least partial removal of tattoos with minimal risk of blisters and scarring bodes well for the market. The dissatisfaction caused by post-treatment complications, as well as the elevated cost of unexpected number of sessions, is a crucial factor negative impacting the market to an extent. Nevertheless, in recent years, substantial advancements in laser-based devices have boosted the outcome of tattoo removal procedures, thereby catalyzing the growth of the market over the forecast period.
Global Tattoo Removal Devices Market: Segmentation
The report segments the overall tattoo removal devices market on the basis of product, end user, and region.
Based on product, the report divides the global market into laser-based devices, RF devices, ultrasound devices, and others. Of these, the laser-based device segment dominates the market, vis-à-vis revenue, and is anticipated to hold its dominance among all product types.
On the basis of end use, the report bifurcates the global market into dermatology clinics and beauty clinics.
The various regions covered in the report are Latin America, North America, the Middle East and Africa (MEA), Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, North America is expected to lead the market throughout the forecast period, accounting for the major regional revenue share in the market.
Companies profiled in the report are:
The report offers an extensive profiling of the companies, their offerings, and the strategies adopted by them to consolidate their presence. The revenue share and size of prominent companies and the analysis of threats by new entrants help in assessing the intensity of the competition over the forecast period. Some of the prominent companies profiled in the report are Alma Lasers, Ltd., Fotona d.d., Sciton, Inc., EL.En. S.p.A., Lynton Lasers Ltd., Solta Medical Inc., Lumenis Ltd., Cynosure, Inc., Syneron Medical Ltd., Lutronic Corporation, and Cutera Inc.