Wednesday, 08 December 2021 03:58 GMT

Tattoo Removal Market Outlook By Size, Share, Future Growth and Forecast

(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 26, 2021, 06:58 /Comserve / -- Tattoo Removal Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The tattoo removal market is expected to register a CAGR of 8.5% during the forecast period.

Like many other industries that require person-to-person contact, the tattoo industry also shut down during the COVID-19 pandemic 2020. In the initial days of the pandemic, several countries were facing lockdowns. They suspended trade with other countries and implemented travel restrictions, leading to the decline in tattoo removal procedures in the first half of 2020.

Moreover, the rising cases of COVID-19 are expected to have a significant short-term negative impact on tattoo removal procedures. The short-term effects on the surgical segment are less prominent. However, the adverse impacts of COVID-19 on the global economy can have significant indirect effects on the market.

A tattoo is a temporary or permanent mark made on the body, which is inked by inserting pigment or ink under the skin. Tattoos are associated with various sentimental and ritual beliefs among people since ancient times. Nowadays, the tattoo market is growing at a phenomenal rate, leading to the upsurge of tattoo removal procedures. There are several tattoo removal procedures that are included in two broad categories: laser and surgical procedures.

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People tend to get rid of their tattoos for various reasons, like career purposes, social environments, and personal situations, which are the key driver for the tattoo removal market. Moreover, change in lifestyle and constantly changing trends increased the demand for tattoo removal.

In France, the Centre Hospitalier Universitaire de Nice is conducting a phase I/II clinical trial to assess the efficacy and tolerance of a new ultra-speed picosecond laser for tattoo removal. The trial started in January 2018, and it is expected to complete in May 2020, but as per the National Clinical Trial (NCT) registry trial is in progress. The positive outcome of the trial will help the market grow in the near future.

Various tattoo removal devices are witnessing growing demand among adult populations for the complete or partial removal of tattoos. The demand for dermatology aesthetics is gaining traction in various developed and emerging economies, which is boosting market growth. However, the high cost of the procedure primarily hinders the growth of the tattoo removal market.

Key Market Trends

The Laser Devices Segment is Expected to Hold a Significant Market Growth Over the Forecast Period

Laser therapy has become one of the more preferred treatments for tattoo removal since it offers a low-risk option with minimal side effects. The procedure uses high-intensity laser (light amplification by stimulated emission of radiation) beams to break up the pigment colors of a tattoo.

Globally, the COVID-19 pandemic has significantly affected tattoo removal procedures. During the COVID-19 pandemic 2020, the tattoo removal device manufacturers faced challenges in their manufacturing and supply chain, such as delivering products on time and attending to an uneven demand for products and services.

The market faced a period of short-term negative growth in 2020, which can be attributed to factors, such as a decline in the product demand from major end users, limited operations in most of the industries, temporary closure of major end-user facilities (including laser and tattoo centers and dermatology clinics), disrupted supply chain, and challenges in terms of providing essential/post-sales services.

The type of laser used generally depends on the pigment colors. Different lasers or different settings of the same laser are needed for different colors. A Q-Switched laser is commonly used to remove tattoos. The laser selectively targets and removes the tattoo without damaging the surrounding tissue, which greatly decreases scarring. Most tattoos do require multiple treatments.

The introduction of new advanced laser products by the market players is also driving the market growth. For instance, in March 2018, 3D-lipo Ltd launched a new tattoo removal machine, '3D-NanoSure dual wavelength laser,' offering an affordable solution for removing unwanted tattoos across a full spectrum of ink colors.

The increasing research and development activities to introduce new and advanced products are boosting the market growth. For instance, according to a research article by W Bäumler et al., published in Photochemical and Photobiological Sciences February 2019, picosecond technology is a new strategy for more effective removal of tattoo pigments with a lower rate of side effects. Hence, there is an urgent need for more well-designed and randomized controlled trials to compare the treatment modality to the traditional nano-second technology regarding the efficacy and adverse reactions.

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Thus, the above-mentioned factors are expected to drive the segment growth over the forecast period.

North America is Expected to Hold a Significant Share in the Market Over the Forcast Period

The major factors driving the market growth in North America include well-established healthcare systems, the presence of key market players, and increasing investment in research and development activities.

In the United States, the outbreak of COVID-19 in 2020 showed an impact on the market studied, as tattoo removal procedures were kept on hold to prevent the spread of the COVID-19 virus. There was tremendous pressure on the hospitals and other healthcare centers in providing services to COVID-19 patients, which is one of the factors inhibiting the hospitals from delivering services.

According to a research article by Dana E Bregman et al., published in Aesthetic Surgery Journal July 2020, in the United States, the total surgeons' fees derived from both surgical and minimally invasive procedures in 2018 was approximately USD 5 billion. The pandemic resulted in a 20% decrease in collected fees, which showed a negative impact on the market in 2020.

With the increasing change in lifestyles, many have been opting for tattoo removal procedures in these countries. With the technological advancement in these countries, the demand for innovative tattoo removal procedures is expected to increase in the region.

The market players in the United States are adopting various strategies, such as partnerships, collaborations, and merges, to increase their market shares. For instance, in May 2019, Soliton Inc. launched a Rapid Acoustic Pulse tattoo removal device designed to remove black ink tattoos from legs, arms, and torso for people with fitzpatrick skin type I-III. Thus, the above-mentioned factors it is expected to drive market growth over the forecast period.

Competitive Landscape

The tattoo removal market is consolidated competitive. The majority of the tattoo removal procedure equipment are manufactured by global key players. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-Pacific is witnessing an emergence of some small players due to the rise of awareness, which has helped the market growth. Some market players include Alma Lasers Ltd, Asclepion Laser Technologies Gmbh, Lumenis Ltd, Cutera Inc., Hologic Inc. (CynoSure Inc.).

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