Tattoo Removal Devices Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product (Laser-Based Devices, Radiofrequency Devices, Ultrasound-Based Devices, Others); End User (Dermatology Clinics, Medical Spa and Beauty Centers, Tattoo Studios, Others); and Region/Country
Global Tattoo Removal Devices Market is expected to grow at a significant rate of around 9% during the forecast period. This is mainly due to the increasing popularity of various types of tattoos, and the demand for various tattoo removal devices is increasing. Additionally, numerous regulatory bodies have approved the use of numerous tattoo removal devices, increasing their market share during the analysis period. Moreover, Product launches are another factor in the market growth. For instance, in March 2020, Lumenis Ltd launched its newest, innovative platform, the Stellar M22. The Stellar M22 is built and based on the gold standard treatment capabilities for the treatment of vascular lesions, skin texture, tone, and hair removal, and it is used for tattoo removal. In addition, Tattoo regret has become quite common among millennials, prompting them to seek tattoo removal techniques. As per Astanza Laser, Of the 30% of Americans who have tattoos, it’s estimated nearly 23% of that population experience tattoo regret. The 2020 U.S. census states our population is 329.5 million people. Therefore, the growing focus and investment of key stakeholders in the research and development of technologically advanced tattoo removal devices is further expected to support market growth.
Lutronic Corp., Hologic Inc., Alma Lasers Ltd., Candela Corporation, Astanza Laser, Cutera Inc., Lumenis Be Ltd., El.En. S.p.A, Cynosure LLC., and Cryomed Aesthetics are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, laser-based devices category to witness significant CAGR during the forecast period”
Based on product, the market is segmented into laser-based devices, radiofrequency devices, ultrasound-based devices, and others. Laser-based devices category to witness higher CAGR during the forecast period owing to factors such as the increasing number of people choosing to go for laser therapy in order to get rid of tattoos is further fueling the growth of the tattoo removal device market. In March 2022, Delete Tattoo Removal & Medical Salon launched a new method called the Delete Method. This special laser minimizes common side effects of other laser tattoo removal technology, like scarring, skin lightening, burns, and skin darkening.
“Amongst end user, the dermatology clinics to hold a significant share in the market in 2020”
On the basis of end user, the market is categorized into dermatology clinics, medical spas and beauty centers, tattoo studios, and others. Among these, dermatology clinics to hold a significant share in the market in 2020. This can be attributed to the presence of skilled and certified professionals in clinics. Dermatologists have proper medical training to ensure avoidance of scarring, changes in the skin’s texture, burns, and other wounds during or after the removal treatment, thus increasing the procedure’s safety and facilitating segment growth.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global tattoo removal devices market. This is mainly due to the increasing adoption of laser technology and rising innovation in tattoo removal devices. In addition, With the technological advancement in these countries, the demand for innovative tattoo removal procedures is expected to increase in the region. For instance, in May 2021, Cynosure launched its new Cynosure Experience Centre, equipped with new research and training facilities, in the city of London. The center is set to serve as a collaborative workspace for the company and its partners, customers, and employees across the globe. Moreover, North America leads the market due to the presence of a large number of tattoo parlors, availability of advanced devices, and presence of a large number of tattooed individuals. With the rising popularity of tattoos in western culture, so has the regret of getting them. In the United States, 45 million people have one or more tattoos on their bodies. Of those 30% are college graduates, 36% are between 18-25 years old, and 40% are between 26-40 years old.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global tattoo removal devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Tattoo Removal Devices Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global tattoo removal devices market were the three major steps undertaken to create and analyze the adoption of tattoo removal devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global tattoo removal devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the tattoo removal devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the tattoo removal devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the tattoo removal devices market. Further, we conducted factor analysis using dependent and independent variables such as increasing adoption of laser treatment for aesthetics. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the tattoo removal devices market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global tattoo removal devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the tattoo removal devices market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global tattoo removal devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global tattoo removal devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product and end user in the global tattoo removal devices market.
The main objective of the Global Tattoo Removal Devices Market Study
The current & future market trends of the global tattoo removal devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the tattoo removal devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product and end user.
- Define and analysis of the regulatory framework for the tattoo removal devices
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the tattoo removal devices market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the tattoo removal devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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