The global tattoo removal devices market
exhibits a highly cutthroat competition mainly due to the presence of
innumerable players, observes Transparency Market Research based on a
newly published report. The fragmented nature of this market’s vendor
landscape depicts most players integrating their products with advanced
technologies. With an increasing demand for high-quality tattoo removal
devices occurring in almost every region, most companies are gradually
adopting product differentiation and expansion of product portfolios.
These are two main strategies implemented by most companies for
achieving extensive growth.
Developing products that deliver
functional transformation and commercial excellence also is a key
strategy implemented by many players working in the global tattoo
removal devices market to stay ahead in the competition. Lutronic
Corporation, Cynosure, Inc., Syneron Medical Ltd., Alma Lasers, Ltd.,
Lumenis Ltd., EL.En. S.p.A., Lynton Lasers Ltd., Solta Medical Inc.,
Sciton, Inc., Fotona d.d., and Cutera Inc., are key companies operating
in the global tattoo removal devices market. A spike in the number of
players entering the tattoo removal devices market, is certainly
expected to increase the competitive intensity during the upcoming
years. Many companies are focusing on launching devices that can remove
tattoo pigments for a broad range of skin types in fewer number of
treatment sessions, thus causing less post-treatment complications and
risks.
According to experts from Transparency Market Research, the global tattoo removal devices testing market had gained revenue worth US$219.1 mn in 2016, which is further expected to grow up to US$321.9 mn by the end of 2022. This growth is projected to occur at an impressive CAGR of 6.7% during the forecast period from 2017 to 2022.
Increasing Demand for Safe Tattoo Removal Boosts Growth in Market
A rapidly rising demand for safe
treatment devices and non-invasive techniques for the removal of tattoos
among different demographic groups is a key factor driving the global
tattoo removal devices market. A need for effective tattoo removal
without harming the surrounding skin is a key factor stoking the demand
for tattoo removal devices, consequently kindling the market to progress
steadily.
Patients nowadays want to feel minimum
discomfort while undergoing through a tattoo removal process. This also
is a key factor driving growth in the global tattoo removal market.
Currently, many tattoo removal technologies help in removal of tattoos
made in various popular as well as less known ink colors. In this way,
faster treatment and lesser number of sessions is a target of most
people who opt for the removal processes. These too are crucial factors
driving growth in the global tattoo removal devices market. In emerging
economies, tattoo removal processes are less costly as compared to those
available in developed economies.
High Costs of Removal Processes Brings in Less Customers
However, steep costs required to set up
systems for tattoo removal might make potential customers have second
thoughts, consequently hampering the global tattoo removal devices
market. High installation and maintenance expenses could discouraging
individuals having less disposable incomes to set up tattoo removal
systems is also a prime hindering factor. Moreover, lack of necessary
removal equipment in several regions too is posing as an obstacle to the
market in terms geographic hindrances. Nevertheless, rising awareness
about the availability of tattoo removal devices is reducing the effects
of restraints affecting the global tattoo removal devices market.
The information shared in this review is
based on a TMR report, bearing the title, “Tattoo Removal Devices Market
– (Product – Laser-Based Devices, RF Devices, and Ultrasound Devices;
End User – Dermatology Clinics and Beauty Clinics) – Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.”
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