The latest market report published by Credence Research, Inc. “Tattoo Removal Lasers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global tattoo removal lasers market was valued at US$ 159.0 Mn in 2017 and expected to reach US$ 285.3 Mn by 2026, expanding at a CAGR of 6.5% from 2018 to 2026.
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Increasing awareness about safe and convenient tattoo removal treatments and rapid uptake of laser treatments in asthetics are the prime factors driving the tattoo removal lasers market. The novel laser removal solutions come with faster recovery time, less side effects and improved safety. These factors have led people to opt for the latest laser removal laser treatments as against the obsolete methods. In the U.S. alone, over 50,000 laser tattoo removals were performed in 2016. Tattoos are becoming a popular part of the latest sociocultural environment. 36% of the American adults have at least one tattoo, with 20% individuals having more than one. However, a significant part of this group has regret on having a tattoo.
Q-switched lasers are the most common laser type used for tattoo removal. Q-switched ruby laser successfully removes black, dark blue and green pigments. However, for multicolor tattoos, combined lasers are often prescribed. The latest picosecond lasers are gaining gradual popularity in the developed markets. These lasers clear tattoo more effectively in lesser time than the conventional counterparts. Picosecond laser also effectively clears pigments such as yellow, orange, red and also removes tattoos with black pigments.
Several new technologies are also being explored for commercialization in the field of tattoo removal. As the awareness of the general public towards tattoo removal is increasing, the demand for lasers for this application is set to augment within the forecast period. However, tattoo removal with lasers come with high costs due to high prices of these equipment, thus making it unaffordable to both patients and therapists. Requirement of multiple sittings also increases the overall treatment cost. Furthermore, multicolor tattoos require combined treatments for efficient tattoo removal, which in turn augments the cost.
Asia Pacific shall be progressing at the fastest growth rate during the forecast period. Getting a tattoo is becoming widely popular and affordable for the general population in Asia Pacific. Therefore, as the uptake of tattoos in the region is growing, there shall be an increase in the number of individuals seeking tattoo removal. Furthermore, cheaper costs of laser tattoo removal in Asia Pacific shall also be assistive in attracting customers to the region. Growing awareness along with improving disposable incomes in the general population is also attracting the uptake of tattoo removal in Asia Pacific.
Key Market Movements:
- Growing and indiscriminate uptake of tattoos worldwide, and the resultant growing demand for tattoo removal procedures
- Requirement from certain professions for absence of tattoos at specific sites
- Increasing awareness in tattoo removals regarding convenient , quick and safer tattoo removal treatments
- Lesser procedure costs in Asia Pacific attracting patients from other geographies