Press release
Tattoo Removal Devices Market by Product Type, End Use & Forecast - 2022
Global Tattoo Removal Devices Market: SnapshotVarious 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$321.9 Mn by 2022 end. The market is anticipated to expand at a CAGR of 6.7% during 2017 - 2022.
tattoo removal devices market
Laser-Based Devices Anticipated to be Most Attractive Segment
The various product types of tattoo removal devices are laser-based devices, RF devices, and ultrasound devices. Of these, the laser-based tattoo removal devices segment holds the dominant share and is expected to witness prominent demand throughout the forecast period. The segment is forecast to generate US$ 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.
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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-เ-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.
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Competitive Analysis
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.
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