Tattoo Removal Market in Australia Growing At A CAGR Of 13.0% And To Target $3.04 Billion By 2026 | Cynosure, Inc., Fosun Pharma

The Australia tattoo removal market is expected to grow at a faster rate during the forecast period, owing to increase in tattoo regrets among the Australian populace. In addition, technological advancements in tattoo removal methods are anticipated to create remunerative opportunities for the expansion of the market in the near future

The Australia tattoo removal market size was valued at $1.14 million in 2018, and is projected to reach $3.04 million by 2026, registering a CAGR of 13.0% from 2019 to 2026. Tattoo removal is a method used to get rid of unwanted tattoos through laser, surgery, and lotions or creams.

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COVID-19 scenario-

1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.

2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.

3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.

The laser beam works by breaking down the ink particles of the tattoo, resulting in its removal, while surgical excision involves the simply cutting out skin that is tattooed using scalpel, and subsequently stitching the wound. The technique mainly used for small tattoos and may not be practical for large tattoos.

Moreover, tattoo removal by creams is a slow and painless method to clear the inked area of the skin. Among these, the most commonly used technique for tattoo removal is the laser procedure, owing to its effectiveness in terms of clearing scar, fading the tattoo, safety, and relatively less pain than surgeries.

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The factors that drive the growth of the tattoo removal market include increase in number of people who need to remove their tattoos due to various personal and social reasons. However, high cost of tattoo removal procedures hinders the growth of the market. On the contrary, advancements of tattoo removal procedures have resulted in introduction of new methods such as PicoSure energy delivery system, which is designed to remove full color spectrum of tattoo in limited treatment cycles.

The Australian tattoo removal market is segmented on the basis of procedure and end user. Depending on the procedure, the market is classified into lasers, surgical, creams, and others. The laser segment is expected to possess high growth potential, owing to the shift in preference of the individuals toward laser removal of tattoo rather than opting for surgical method, as it is highly invasive and causes pain throughout the treatment. The laser segment registered the fastest rate in 2018, followed by creams segment. The growth of the creams segment is driven due to wider availability of creams in Australia. In addition, creams are considered as least expensive option for tattoo removal.

However, there are no significant evidence for permanent removal of tattoos using these creams. The best these creams can offer is fading or lightening of the tattoo. By end user, the market is fragmented into hospitals, clinics, and others. The clinics segment dominated the market in 2018, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to the preference among individuals for clinics due to availability of advanced equipment for tattoo removal as compared to hospitals and other end users. The presence of several clinics for tattoo removal in Australia is anticipated to create lucrative opportunities for the tattoo removal market growth during the forecast period. For instance, Think Again Laser Clinic, ENRICH Dermatology & Cosmetic Clinic, Melbourne Tattoo Removal Clinic, Tattoo Laser Dermatology Clinic, and Quantum Tattoo Removal Clinic are some of the major tattoo removal clinics in Australia.

The hospital segment is expected to grow at a moderate rate in coming years, owing to increase in adoption of advanced technology for tattoo removal by hospitals in Australia. Furthermore, rise in popularity of surgical-based procedures such as mini-punch skin excision and dermabrasion for tattoo removal is leading to increased demand for tattoo removal in hospitals. Thus, all these factors collectively are expected to boost the growth of Australian tattoo removal market for hospital segment in the coming future.

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Australia is witnessing a significant growth, owing to rise in trend of tattooing among the Australian populace and introduction of effective tattoo removal treatments. Furthermore, the tattoo removal industry is not regulated in Australia, thus, currently there are no separate tattooist licenses for establishing a formal tattoo parlor. This encouraged tattoo artists to set up their own studios. Thus, upsurge in number of tattoo parlors has led to rise in number of people getting inked. Prominent players in the market have adopted various strategies such as developing tattoo removal techniques and product launch for strengthening their foothold in the Australia tattoo removal market.

The Major Key Players Are:

Agic Capital, Bison Medical, Candela Corporation, Cryomed Aesthetics, Cutera Pty. Limited, Cynosure, Inc., Fosun Pharma, Lumenis, Lutronic Corporation, and Global Beauty Group.

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