The global tattoo removal devices market size is anticipated to reach USD 219.06 million by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.5% during the forecast period. Increasing demand for removal of tattoo among both youth and senior population due to tattoo regrets is projected to drive the growth. High demand for non-invasive or minimally invasive procedures for aesthetic treatments is anticipated to further fuel the growth.
Laser devices such as Q-Switched Nd-YAG laser, Q-switched ruby laser, and Q-Switched Alexandrite laser systems are highly efficient and safe for removal of both black and colored tattoos, thus, are anticipated to facilitate growth of the market.
Moreover, according to Astanza Lasers, approximately 45 million Americans have at least one tattoo and there are nearly 21,000 tattoo parlors in the country. They generate a potential tattoo removal patient each day, thus, significantly boosting the market. The average revenue per patient is around USD 1,400 and with nearly 7 million individuals with tattoo regrets, the tattoo removal device market is anticipated to present huge opportunities for market players and investors.
The prominent players are focused on adopting growth strategies, such as new product launches, initiatives for expanding product portfolio, funding programs, and more to sustain the competitive market. Speedy approvals for technologically advanced removal devices in the developed economies is also positively affecting the market growth.
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Other key findings from the study suggest:
- Some of the most common reasons for individuals seeking tattoo removal are fading of design over time, poor work quality, ex’s name as tattoo, tattoos hindering job acceptance, and others
- Laser removal devices segment led the market in 2018 since, laser therapy is the only safe, effective, and non-invasive procedure
- Dermatology clinics are highly preferred by individuals for both getting inked and removal of tattoos due to availability of advanced devices and presence of certified and trained dermatologist
- North America leads the tattoo removal market due to presence of large number of tattoo parlors, availability of advanced devices, and presence of large number of tattooed individuals
- Asia Pacific is expected to be the fastest growing region due to high importance of dragon tattoos in China and growing demand from Japan and India
- Some of the key market participants are Lutronic Corporation; Hologic (Cynosure, Inc.);Alma Lasers, Ltd; Syneron Candela; Astanza Lasers; and Cutera Inc.