Increased interest in tattoos has kept the pool of potential industry customers high.
Los Angeles, CA (PRWEB) January 28, 2012
The Tattoo Removal Practitioner industry grew quickly over the past five years, with revenue expanding at an average annual rate of 20.9% to $65.6 million in 2012. Increased social acceptability of and interest in tattoos has driven demand for them, which ultimately increased the pool of potential customers who may regret their initial decision and want their tattoos removed. Further pushing growth has been the recession, says IBISWorld industry analyst Justin Molavi, with “heightened unemployment increasing demand from job seekers who wanted to cover up tattoos to improve their job prospects.” At the same time, the recession did cause drops in disposable income, which mitigated some growth because it limited consumers' ability to pay for tattoo removal.
Innovation has been a key focus in the Tattoo Removal Practitioner industry, with increasing use of Q-switching laser technology to remove tattoos, which allows less patient evasiveness and scarring. According to Molavi, “This move has not only resulted in higher demand for tattoo removal since consumers generally prefer this method, but also supported demand for tattoos because people now see how relatively easy it is to remove them with this method (in comparison to other methods used by the industry).” Industry players purchased this technology at accelerating rates to meet demand from customers who demanded tattoo removal.
The industry will continue to grow over the next five years, albeit at a slower rate. Although demand will still be high, given the ease of removal with laser technology, the boost in demand that resulted from high unemployment will fade as the US economy gains steam and unemployment declines. The absence of the high growth experienced during the past five years will result in fewer new entrants during the next five years. Although existing companies, such as MEDermis Laser Clinic, LaserAway and the Dr. Tattoff franchise, only comprise a small share of industry revenue, they will continue to increase market share through geographical expansion. IBISWorld estimates that most of the industry’s revenue comes from the Southeast, West and Mid-Atlantic regions due to their higher population densities and the presence of major metropolitan areas in these regions. For more information visit IBISWorld’s Tattoo Removal Practitioners in the US industry page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
IBISWorld industry Report Key Topics
Industry players primarily provide tattoo removal services through laser technology that breaks down tattoo ink. Some players offer other personal care services such as laser hair removal.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.