The tattoo removal market was valued at USD 990.46 million in 2023 and is anticipated to reach USD 1,130.22 million by 2024. It is further projected to grow significantly, reaching USD 3,570.37 million by 2032, with a compound annual growth rate (CAGR) of 15.46% over the forecast period.
Tattoo removal has seen a significant rise in demand in recent years, becoming one of the most sought-after treatments today. A key factor driving its growing popularity is the increasing prevalence of body art culture. Many young individuals are getting tattoos with deep personal significance. However, a considerable percentage later regret their decision, leading to a surge in demand for tattoo removal treatments. This trend is expected to positively influence the growth of the tattoo removal market.
The COVID-19 pandemic adversely affected the market’s outlook as tattoo studios were forced to shut down to adhere to the lockdown and other movement restrictions. This factor reduced the number of customers visiting these studios, thereby reducing the demand for tattoo erasing treatments.
Fortune Business Insights™ displays this information in a report titled, "Tattoo Removal Market, 2024-2032."
Top Company in the Tattoo Removal Market:
- Removery (U.S.)
- East Coast Worldwide (U.S.)
- Derick Dermatology (U.S.)
- Think Again Laser Clinic (Australia)
- A&E 2020 Corp. (U.S.)
- LUTRONIC (U.S.)
- Laser Ink & LTD Company (U.K.)
- Reno Tattoo Removal (U.S.)
- Tattoo Removal Inc. (U.S.)
- Chroma Tattoo & Laser Tattoo Removal (U.S.)
Browse Detail Summary For the Tattoo Removal Market: https://www.fortunebusinessinsights.com/tattoo-removal-market-110418
Segmentation:
Laser Procedures to Gain Major Traction Due to High Demand for Painless Procedures
Based on procedures, the market is segmented into laser procedures, surgical procedures, dermabrasion, and others. The laser procedures segment is estimated to record the fastest CAGR during the forecast period as there is a strong demand for painless and non-invasive procedures among customers.
Low-Cost Tattoo Erasing Services Boosted Customer Footfall at Artist Studios
By facility type, the global market is segregated into artist studios, dermatology clinics, and others. The artist studios segment dominated the market in 2023 as these studios offer affordable tattoo removal treatments.
Higher Regret of Getting Inked Boosted Service Demand Among Women
Based on end-user, the global market is bifurcated into women and men. The women segment captured a major tattoo removal market share in 2023 as the regret of getting inked is higher among women as compared to men.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading end-users, facility types, procedures, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Increasing Innovations in Tattoo Erasing Devices to Fuel Market Growth
Tattoo erasing tools, such as laser ink eraser devices and other tattoo erasing technologies are experiencing innovations to reduce the risk of side effects, enhance their effectiveness, and increase customer satisfaction. For instance, Picostar, a leading manufacturer of cutting-edge laser devices, launched the Picosecond Laser in Australia. Picosecond Laser is an ultra-short pulse technology-based tool that will be used to decrease hyperpigmentation. Such innovations will encourage customers to undergo tattoo erasing procedures as they are painless and non-invasive.
However, the high cost of these procedures can hamper the tattoo removal market growth.
Regional Insights:
North America Dominated Market Due to Increasing Body Art Culture
North America captured a dominant tattoo removal market share in 2023 as countries, such as the U.S. and Canada have regret having a certain tattoo or want to modify the existing ones. These scenarios are expected to fuel the demand for tattoo erasing devices across the region.
Asia Pacific is also predicted to record the fastest CAGR during the forecast period as countries, such as China have released mandates for their citizens to remove their tattoos, if they have any.
Competitive Landscape:
Leading Companies to Launch Novel Products to Facilitate Painless Procedures
Some of the key companies operating in this market include East Coast Worldwide, Removery, and Derick Dermatology, among many others, are introducing state-of-the-art ink-erasing tools in the market. These tools will help them offer their customers a painless way to get rid of their tattoos.
Notable Industry Development:
October 2021: Tom Acland, a U.K.-based entrepreneur providing aesthetic laser technology services, announced his partnership with Laseraid International to secure a multi-million-dollar investment for its business. This investment will help the company increase its presence in the aesthetic laser devices space by offering instruments for ink erasing, facial treatments, skin rejuvenation, fat freezing, and body contouring.
Comments
0 comment