The Tattoo Removal Devices Market is expected to register a CAGR of 8.3% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Type (Laser, Radiofrequency, Ultrasound) and end User (Dermatology clinics, Medical Spa, Beauty Centers). The global analysis is further broken down at the regional level and major countries. The report offers the value in US$ for the above analysis and segments.
Purpose of the ReportThe report Tattoo Removal Devices Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Tattoo Removal Devices Market Segmentation
Type- Laser
- Radiofrequency
- Ultrasound
- Dermatology clinics
- Medical Spa
- Beauty Centers
Strategic Insights
Tattoo Removal Devices Market Growth Drivers- Rising Tattoo Removal Trend: It is the main driver in the growth of the Tattoo Removal Devices Market. As people continue to get inked, the demand for the removal of such tattoos has subsequently increased. Various reasons make multiple people want their tattoos removed a change of career to change of relationship, or simply because the tattoo is not liked anymore. This trend has pushed the demand for advanced tattoo removal devices that deliver faster and more effective treatments. More people are going for tattoo removal procedures, thus increasing the forecast for the tattoo removal devices market. Laser technology, especially picosecond and Q-switched lasers, has made it possible to achieve high accuracy and safety of tattoo removal without causing too many side effects or damage. The growing number of tattooed individuals coupled with the increasing demand for removal services is expected to contribute to the market size growth. As the stigma surrounding tattoo removal diminishes and technology advances, the market share of tattoo removal devices will continue to grow, offering manufacturers significant growth opportunities in the coming years.
- Advancements in Tattoo Removal Technology: Tattoo removal device technology has been one of the driving forces of the growing Tattoo Removal Devices Market. The last few years have brought into play tremendous improvements in laser technologies, such as picosecond lasers, which provide efficient and less painful treatments. These advancements include faster, safer, and more effective procedures with fewer side effects compared to the older ones. Further technological innovations in the coming future are foreseen to improve further the accuracy and flexibility of the tattoo removal machine, and in this way, help treat various kinds of tattoos as well as colors. This significantly contributed to the growing popularity of tattoo removal procedures, given the ability to remove tattoos with minimum skin damage and shorter recovery time. However, the increased usage of laser technology in the targeted application of ink particles with minimal disturbance caused to the underlying skin also helped increase the size of the tattoo removal devices market. The increased demand for high-tech noninvasive treatments propels the share for high-tech instruments even higher. Increasing advancement in safe and faster as well as efficient ways of removing a tattoo increases the scope for more rapid growth by manufacturers in this business.
- Increasing Awareness of Tattoo Removal Options: The awareness of tattoo removal options is the leading driver behind the Tattoo Removal Devices Market. As tattoos are becoming socially acceptable, those who got them for several personal reasons earlier are now trying to remove them. More individuals now know various techniques available for removing tattoos through digital media. The various options for removal exist, which range from laser treatment, and dermabrasion, to surgical excision. Consumers' demand for professional removal services will also increase as it is forecasted that people become more conscious of their choices while removing a tattoo. Thus, growing awareness along with the rise in access to developed removal technologies is expected to lead to expansion of market size significantly. Besides, the growing accessibility of eliminating tattoo services both at clinics as well as spa centers and massive public awareness concerning the greater efficiency of laser treatments in the elimination processes are leading to higher adoption degrees by tattoo elimination equipment. Because of their steadily rising safety and efficacy, a trend towards increased market share demand on their part across the line is noticed, and considerable scope for expanding is found within this line of expansion for manufacturers.
- Emergence of Non-Laser Tattoo Removal Technologies: The most significant trend in the Tattoo Removal Devices Market is the emergence of non-laser tattoo removal technologies. For all these years, lasers especially picosecond and Q-switched lasers have led in the marketplace, but tattoo removal creams and newer light-based therapies are gaining ground. The new non-laser technologies will work in tandem with the old laser treatments. The requirements of such new options for patients vary with types of tattoos and skin tones. These new non-laser treatments aim to make things easier on the patient's wallet and cause less pain compared to laser procedures. Thus, the innovative technology development forms a new horizon for increasing the market size along with raising the market share for tattoo removal devices. Because more consumers want affordable and non-invasive methods of removing tattoos, it will be interesting to see growth in the tattoo removal market through these non-laser technologies, an evolution trend by manufacturers towards more safety, effectiveness, and access to non-laser removal technologies.
- Minimal Pain and Faster Recovery: Minimal pain and faster recovery is another key trend in the Tattoo Removal Devices Market on which increasing emphasis is being directed by the demand for the Tattoo Removal Devices Market. Discomfort and long post-recovery intervals are associated traditionally with tattoo removal procedures, majorly laser techniques. However, developments in tattoo removal technologies have changed to reduce pain and even a faster less-invasive recovery period. More devices will also come with innovations such as cooling technologies, optimized wavelengths, and other methods to reduce pain during and post-treatment. Tattoo removal is increasingly becoming more accessible to a wide range of consumers who have steered clear of the procedure, fearing the painful and long healing process. Focus on patient comfort is expected to be the driving force behind the market size for tattoo removal devices, as people increasingly seek innovative treatments. Shrinking recovery times and reducing the agony of the treatment will continue to fuel growth in market share for devices that improve recovery times while moving forward.
- Increasing Popularity of Home Tattoo Removal Devices: The at-home tattoo removal devices are increasingly becoming popular in the Tattoo Removal Devices Market. Some companies have advanced technology that enables them to sell home-use devices to consumers so that they can attempt to remove tattoos in their homes. Such devices, utilizing lower-powered lasers or other light-based therapies, are becoming increasingly popular due to their affordability and convenience. Market reports forecast that consumer demand for tattoo removal devices for home use is projected to increase on account of greater demand for consumer self-treatment options and due to cost benefits. Though these removal devices are far less powerful compared to professional treatment clinics, they are always a viable solution when it comes to removing small tattoos or faded skin inks. With a rise in tattoo removal devices sold to consumers for at-home use, market size is further expected to be expanded. More and more will be the shares of at-home products in the coming years as people become more informed and technology better.
- Increasing Integration with Aesthetic Clinics and Spas: The Tattoo Removal Devices Market will see better growth because medical spas and aesthetic clinics now use these devices in their treatments. Medical spas and dermatology clinics now provide tattoo removal services because their customers increasingly want non-surgical aesthetic treatments. More people are embracing non-surgical treatments because they want to erase tattoos from their skin without undergoing surgery. Tattoo removal services are growing fast because people now understand better treatment choices and want their skin to look perfect. Tattoo removal devices that work better are now used by more clinics and spas in their treatment services. Tattoo clinics and spas can serve more customers by using advanced tattoo removal devices safely and effectively. Manufacturers see a major market growth chance by developing precise aesthetic industry tools. Clinics and spas need devices that work easily and produce the best possible results in their medical facilities. The market for tattoo removal devices will grow because more medical and aesthetic clinics will begin offering these services which will increase the number of potential buyers. Firms that create advanced aesthetic clinic-grade equipment will have better chances to lead the industry.
- Technological Innovations and Product Diversification: The Tattoo Removal Devices Market has room to grow through both new technology development and product range expansion. The healthcare and aesthetics sectors' technology development gives tattoo removal device manufacturers chances to develop new features that work better and faster. The market changes because new laser technology now allows better tattoo ink targeting with less harm to surrounding skin. Tattoo removal devices that use energy more efficiently lower running expenses and treat patients faster which makes them more popular among customers. Manufacturers now work to create tattoo removal devices that work well with different skin types and match various tattoo colors based on customer demand. The market grows through different product versions. People now prefer to use portable tattoo removal tools at home because they save time and money. The market includes room for devices that target larger and more complex tattoo styles separately from basic models. The future market size of tattoo removal devices will expand due to technological progress and the addition of new product varieties. Companies that invest in these market opportunities will lead the industry and win more customers since consumers demand safer tattoo removal solutions that work better and are more convenient.
- Focus on Consumer Education and Awareness: The tattoo Removal Devices Market is showing strong growth because more people now understand how to get proper treatment. Despite more tattoo removal choices being available customers still lack knowledge about modern tattoo removal technology and treatment options. Traditional tattoo removal methods stay popular with customers so new advanced treatments are used less often. People will seek professional tattoo removal services when they discover that laser removal plus other non-laser choices work well and cost less. The market for tattoo removal devices will expand because more people will learn about it and want it. Manufacturers and service companies will invest in customer education through online and offline promotional activities to strengthen their bond with customers. Tattoo removal technology companies can grow their business by showing how their devices now work faster with fewer side effects and better results. Educating consumers about all tattoo removal options including laser and non-laser methods enables them to make better choices which grows the market share of companies that value education. Companies that focus on educating customers about tattoo removal stand to build lasting relationships and grow their market share as demand for these services expands.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Tattoo Removal Devices Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Tattoo Removal Devices Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities

Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
This text is related
to segments covered.

Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
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to country scope.
Frequently Asked Questions
The Tattoo Removal Devices Market is estimated to witness a CAGR of 8.3% from 2025 to 2031
The major factors driving the Tattoo Removal Devices Market are Increasing Popularity of Tattoo Removal, Advancements in Tattoo Removal Technology, and Increasing Awareness of Tattoo Removal Options.
Future trends in the Tattoo Removal Devices Market are the Emergence of Non-Laser Tattoo Removal Technologies, Focus on Minimal Pain and Faster Recovery, and Increasing Popularity of Home Tattoo Removal Devices.
Some of the players operating in the market are LUTRONIC, Hologic (Cynosure, Inc.), lma Lasers, Candela Medical, Astanza Laser LLC, Cutera, Lumenis, CRYOMED AESTHETICS, Fotona, and Lynton Lasers.
The report can be delivered in PDF/PPT format; we can also share an excel datasheet based on the request.
Some customization options available based on the request are an additional 3–5 company profiles and a country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Tattoo Removal Devices Market - By Type
1.3.2 Tattoo Removal Devices Market - By End User
1.3.3 Tattoo Removal Devices Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. TATTOO REMOVAL DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. TATTOO REMOVAL DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. TATTOO REMOVAL DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. TATTOO REMOVAL DEVICES - GLOBAL MARKET OVERVIEW
6.2. TATTOO REMOVAL DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. TATTOO REMOVAL DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. LASER
7.3.1. Overview
7.3.2. Laser Market Forecast and Analysis
7.3.3. Q-switched ruby laser Market
7.3.3.1. Overview
7.3.3.2. Q-switched ruby laser Market Forecast and Analysis
7.3.4. Q-Switched Nd-YAG laser Market
7.3.4.1. Overview
7.3.4.2. Q-Switched Nd-YAG laser Market Forecast and Analysis
7.3.5. Q-Switched Alexandrite laser Market
7.3.5.1. Overview
7.3.5.2. Q-Switched Alexandrite laser Market Forecast and Analysis
7.4. RADIOFREQUENCY
7.4.1. Overview
7.4.2. Radiofrequency Market Forecast and Analysis
7.5. ULTRASOUND
7.5.1. Overview
7.5.2. Ultrasound Market Forecast and Analysis
8. TATTOO REMOVAL DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. DERMATOLOGY CLINICS
8.3.1. Overview
8.3.2. Dermatology clinics Market Forecast and Analysis
8.4. MEDICAL SPA
8.4.1. Overview
8.4.2. Medical Spa Market Forecast and Analysis
8.5. BEAUTY CENTERS
8.5.1. Overview
8.5.2. Beauty Centers Market Forecast and Analysis
9. TATTOO REMOVAL DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Tattoo Removal Devices Market Overview
9.1.2 North America Tattoo Removal Devices Market Forecasts and Analysis
9.1.3 North America Tattoo Removal Devices Market Forecasts and Analysis - By Type
9.1.4 North America Tattoo Removal Devices Market Forecasts and Analysis - By End User
9.1.5 North America Tattoo Removal Devices Market Forecasts and Analysis - By Countries
9.1.5.1 United States Tattoo Removal Devices Market
9.1.5.1.1 United States Tattoo Removal Devices Market by Type
9.1.5.1.2 United States Tattoo Removal Devices Market by End User
9.1.5.2 Canada Tattoo Removal Devices Market
9.1.5.2.1 Canada Tattoo Removal Devices Market by Type
9.1.5.2.2 Canada Tattoo Removal Devices Market by End User
9.1.5.3 Mexico Tattoo Removal Devices Market
9.1.5.3.1 Mexico Tattoo Removal Devices Market by Type
9.1.5.3.2 Mexico Tattoo Removal Devices Market by End User
9.2. EUROPE
9.2.1 Europe Tattoo Removal Devices Market Overview
9.2.2 Europe Tattoo Removal Devices Market Forecasts and Analysis
9.2.3 Europe Tattoo Removal Devices Market Forecasts and Analysis - By Type
9.2.4 Europe Tattoo Removal Devices Market Forecasts and Analysis - By End User
9.2.5 Europe Tattoo Removal Devices Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Tattoo Removal Devices Market
9.2.5.1.1 Germany Tattoo Removal Devices Market by Type
9.2.5.1.2 Germany Tattoo Removal Devices Market by End User
9.2.5.2 France Tattoo Removal Devices Market
9.2.5.2.1 France Tattoo Removal Devices Market by Type
9.2.5.2.2 France Tattoo Removal Devices Market by End User
9.2.5.3 Italy Tattoo Removal Devices Market
9.2.5.3.1 Italy Tattoo Removal Devices Market by Type
9.2.5.3.2 Italy Tattoo Removal Devices Market by End User
9.2.5.4 Spain Tattoo Removal Devices Market
9.2.5.4.1 Spain Tattoo Removal Devices Market by Type
9.2.5.4.2 Spain Tattoo Removal Devices Market by End User
9.2.5.5 United Kingdom Tattoo Removal Devices Market
9.2.5.5.1 United Kingdom Tattoo Removal Devices Market by Type
9.2.5.5.2 United Kingdom Tattoo Removal Devices Market by End User
9.2.5.6 Rest of Europe Tattoo Removal Devices Market
9.2.5.6.1 Rest of Europe Tattoo Removal Devices Market by Type
9.2.5.6.2 Rest of Europe Tattoo Removal Devices Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Tattoo Removal Devices Market Overview
9.3.2 Asia-Pacific Tattoo Removal Devices Market Forecasts and Analysis
9.3.3 Asia-Pacific Tattoo Removal Devices Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Tattoo Removal Devices Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Tattoo Removal Devices Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Tattoo Removal Devices Market
9.3.5.1.1 Australia Tattoo Removal Devices Market by Type
9.3.5.1.2 Australia Tattoo Removal Devices Market by End User
9.3.5.2 China Tattoo Removal Devices Market
9.3.5.2.1 China Tattoo Removal Devices Market by Type
9.3.5.2.2 China Tattoo Removal Devices Market by End User
9.3.5.3 India Tattoo Removal Devices Market
9.3.5.3.1 India Tattoo Removal Devices Market by Type
9.3.5.3.2 India Tattoo Removal Devices Market by End User
9.3.5.4 Japan Tattoo Removal Devices Market
9.3.5.4.1 Japan Tattoo Removal Devices Market by Type
9.3.5.4.2 Japan Tattoo Removal Devices Market by End User
9.3.5.5 South Korea Tattoo Removal Devices Market
9.3.5.5.1 South Korea Tattoo Removal Devices Market by Type
9.3.5.5.2 South Korea Tattoo Removal Devices Market by End User
9.3.5.6 Rest of Asia-Pacific Tattoo Removal Devices Market
9.3.5.6.1 Rest of Asia-Pacific Tattoo Removal Devices Market by Type
9.3.5.6.2 Rest of Asia-Pacific Tattoo Removal Devices Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Tattoo Removal Devices Market Overview
9.4.2 Middle East and Africa Tattoo Removal Devices Market Forecasts and Analysis
9.4.3 Middle East and Africa Tattoo Removal Devices Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Tattoo Removal Devices Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Tattoo Removal Devices Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Tattoo Removal Devices Market
9.4.5.1.1 South Africa Tattoo Removal Devices Market by Type
9.4.5.1.2 South Africa Tattoo Removal Devices Market by End User
9.4.5.2 Saudi Arabia Tattoo Removal Devices Market
9.4.5.2.1 Saudi Arabia Tattoo Removal Devices Market by Type
9.4.5.2.2 Saudi Arabia Tattoo Removal Devices Market by End User
9.4.5.3 U.A.E Tattoo Removal Devices Market
9.4.5.3.1 U.A.E Tattoo Removal Devices Market by Type
9.4.5.3.2 U.A.E Tattoo Removal Devices Market by End User
9.4.5.4 Rest of Middle East and Africa Tattoo Removal Devices Market
9.4.5.4.1 Rest of Middle East and Africa Tattoo Removal Devices Market by Type
9.4.5.4.2 Rest of Middle East and Africa Tattoo Removal Devices Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Tattoo Removal Devices Market Overview
9.5.2 South and Central America Tattoo Removal Devices Market Forecasts and Analysis
9.5.3 South and Central America Tattoo Removal Devices Market Forecasts and Analysis - By Type
9.5.4 South and Central America Tattoo Removal Devices Market Forecasts and Analysis - By End User
9.5.5 South and Central America Tattoo Removal Devices Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Tattoo Removal Devices Market
9.5.5.1.1 Brazil Tattoo Removal Devices Market by Type
9.5.5.1.2 Brazil Tattoo Removal Devices Market by End User
9.5.5.2 Argentina Tattoo Removal Devices Market
9.5.5.2.1 Argentina Tattoo Removal Devices Market by Type
9.5.5.2.2 Argentina Tattoo Removal Devices Market by End User
9.5.5.3 Rest of South and Central America Tattoo Removal Devices Market
9.5.5.3.1 Rest of South and Central America Tattoo Removal Devices Market by Type
9.5.5.3.2 Rest of South and Central America Tattoo Removal Devices Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. TATTOO REMOVAL DEVICES MARKET, KEY COMPANY PROFILES
11.1. LUTRONIC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. HOLOGIC (CYNOSURE, INC.)
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ALMA LASERS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CANDELA MEDICAL
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ASTANZA LASER LLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CUTERA
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LUMENIS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. CRYOMED AESTHETICS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. FOTONA
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. LYNTON LASERS
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. LUTRONIC
2. Hologic (Cynosure, Inc.)
3. Alma Lasers
4. Candela Medical
5. Astanza Laser LLC
6. Cutera
7. Lumenis
8. CRYOMED AESTHETICS
9. Fotona
10. Lynton Lasers
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.