LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global tattoo removal market to grow to USD 2,849.52 million by 2021, at a CAGR of close to 16% over the forecast period, according to their latest report.
The research study by Technavio on the global tattoo removal market for 2017-2021 provides a detailed industry analysis based on the product type (laser and surgical excision tattoo removal) and geography (the Americas, EMEA, and APAC).
| The Americas is projected to generate both the highest revenue and maximum disposable income over the forecast period. The high disposable income among the consumers and well-established cosmetic surgery market are expected to drive the growth of the regional market segment. |
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Technavio analysts highlight the following three factors that are contributing to the growth of the global tattoo removal market:
- Rise in demand for laser based aesthetic procedures
- Increase in number of people getting tattoos
- Increase in number of surgeons
Rise in demand for laser based aesthetic procedures
“Advances in laser technology have created a plethora of applications in the aesthetic field, leading to a significant rise in the number of laser procedures,” says Amber Chourasia, a lead analyst at Technavio for health and wellness research.
Sales of medical laser systems have been spurred by the rapid growth in applications such as tattoo removal. The easy availability of picosecond lasers, such as PicoSure (Cynosure), and other advanced techniques, which use topical agents such as perfluorodecalin for Q-switched laser treatments for the removal of tattoos are greatly benefiting the market.
Increase in number of people getting tattoos
The popularity of tattoos worldwide has grown by more than 15% since 2007. The trend of getting tattooed is very common in developed countries such as the US, the UK, Australia, and Canada. From the need for artistic expression to being influenced by TV shows, people opt to get tattooed for a variety of reasons. The rise in the number of people getting tattooed has also increased the need for tattoo removal, which is a positive driver for the market in focus. The rising demographic of potential customers for the tattoo removal market will increase the demand for various tattoo removal procedures.
Increase in number of surgeons
“Countries such as China, Japan, India, Brazil, and South Korea have the highest number of certified plastic and cosmetic surgeons. The relatively regulation free landscape of the cosmetic industry is allowing for the swift growth of the market,” says Amber.
Also, clinics in these countries offer aesthetic procedures at much more affordable costs when compared to other countries, which encourages medical tourism and prompts individuals from other countries to seek aesthetic procedures in these countries.
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