Tattoo Removal Market to Reach $795 Mn, Globally, by 2027 at 19.3% CAGR: Says AMR
- Growth of communication network infrastructure, government initiatives, and rise in investments in digital electricity infrastructure augment the growth of the global tattoo removal market.
Portland, Ore., Nov. 12, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Tattoo Removal Market by Procedure (Laser Procedure, Surgical Procedure, Creams, and Other Procedures) and End User (Hospitals, Clinics, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global tattoo removal industry garnered $478 million in 2019, and is expected to reach $795 million by 2027, growing at a CAGR of 19.3% from 2020 to 2027.
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Key determinants of the market-
Increase in tattoo regrets and changes in lifestyles and trends augment the growth of the global tattoo removal market. On the other hand, high cost of installations of tattoo removal restrains the market growth. Nevertheless, technological advancements in tattoo removal methods is anticipated to offer lucrative opportunities to the market.
Covid-19 Scenario:
- The COVID-19 outbreak has massively impacted the tattoo removal clinics. The tattoo studios, medical spas, and parlors, were ordered to shut down.
- The demand for tattoo removal, on the other hand, has been decreased during covid-19.
The laser procedure segment would rule the roost throughout the forecast period-
Based on procedure, the laser procedure segment held the highest market share in 2019, accounting for nearly three-fifths of the global tattoo removal market share, and will continue its dominance throughout the forecast period. Furthermore, the same segment is estimated to portray the largest CAGR of 20.1% from 2020 to 2027. This is due to the shift in preference of individuals toward laser removal of tattoos over surgical methods, as it is highly invasive and causes pain throughout the treatment. In addition, laser tattoo removal procedure completely eliminates tattoos, without leaving scars, which further fuels the growth of the segment.
The clinics segment would lead the trail throughout the forecast period-
Based on end user, the clinics segment held the highest share in 2019, contributing to nearly four-fifths of the global tattoo removal market, and is estimated to continue its lead during the forecast period. Furthermore, the same segment is estimated to register the highest CAGR of 19.9% from 2020 to 2027. Large number of tattoo removal procedures performed in clinics and rise in demand for tattoo removal devices in aesthetics or dermatology clinics augment the growth of the segment.
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Asia-Pacific to dominate the market, North America to grow significantly by 2027-
Based on region, Asia-Pacific accounted for the largest market share in 2019, holding nearly four-fifths of the global tattoo removal market, and will maintain its dominant position by 2027. Moreover, this segment is expected to manifest the highest CAGR of 20.3% during the forecast period. Rise in number of tattoo removal procedures, surge in adoption of Q-Switched Laser System, availability of advanced healthcare facilities with trained medical professionals, and rise in number of R&D activities to develop novel laser systems drives the growth of the market in this province. Moreover, the North America region is expected to manifest the second largest CAGR of 19.7% by 2027.
Key players analyzed in the market-
- Agic Capital (Fotona D.O.O.)
- Bison Medical
- Candela Corporation
- Cryomed Aesthetics
- Cutera, Inc.
- Cynosure, Inc.
- Fosun Pharma (Alma Lasers)
- Lumenis Ltd.
- Lutronic Corporation
- The Global Beauty Group.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering impact of Covid-19 over this market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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