iCrowdNewswire Jan 20, 2021 11:14 AM ET
The growing adoption of laser treatments to boost aesthetic appeal is expected to be a significant factor that can augment the tattoo removal business. The rising demand for non-invasive methods to remove tattoos can increase the demand for the same, which is anticipated to actuate the market during the review period. In addition, the increasing prevalence of ‘tattoo regret’ is likely to fuel the demand for efficient tattoo removal technologies that can strengthen the market. According to Market Research Future (MRFR), the global tattoo removal market is anticipated to acquire a market value of USD 4,794.9 million while expanding at a CAGR of 15.6% by 2023.
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The segmental analysis of the global tattoo removal market is done by treatment method and end-user.
The treatment method-based segments of the global tattoo removal market are laser therapy, surgical method, and topical creams & others. Among all, the laser therapy market is expected to acquire the largest market share during the forecast period. The segment is anticipated to dominate owing to its efficiency.
The end-user based segments of the global tattoo removal market are laser centers, dermatology clinics, and others. Among all segments, the global laser centers segment is anticipated to dominate the market during the review period.
Based on the region, the global tattoo removal market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
As per the assessment, the global market for tattoo removal is anticipated to be dominated by North America by procuring the largest market share of 39.6% during the forecast period. The presence of renowned key players in the region is expected to be a salient cause that can grow the regional market during the forecast period. Furthermore, the rising demand for tattoo removal owing to ‘tattoo regret’ is likely to augment the regional market in the coming period.
The APAC region is anticipated to be the fastest-growing regional market, expanding at a CAGR of 16.2% during the review period. The growing demand to remove tattoos from the body owing to the rising disposable income. The presence of emerging economies like India and China are predicted to play a crucial role in developing the regional market. Furthermore, the social stigma associated with tattoos among conservative societies is another important factor, which can strengthen the regional market in the forthcoming period.
The MEA region is projected to acquire a small market share during the forecast period owing to the lack of awareness. The presence of underdeveloped African nations is likely to pose as a hindrance to the market expansion in the coming period.
Eminent players of the global tattoo removal market are Cutera Inc (U.S.), Astanza (U.S.), CynoSure (U.S.), Lutronic (U.S.), Dimyth (China), Syneron Medical Ltd. (U.S.), and Quanta System S.p.A (Italy).
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