Contact Lens Solution Global Market Report 2024

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Global Contact Lens Solution Market Report 2024

Contact Lens Solution Global Market Report 2024 – By Solution Type (Multi-Purpose, Hydrogen-Peroxide Based, Other Solution Types), By Material (Gas Permeable Lens, Silicone Hydrogel Lens, Hybrid Lens), By Distribution Channel (E-Commerce, Retail, Other Distribution Channels) – Market Size, Trends, And Global Forecast 2024-2033

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Contact Lens Solution Global Market Report 2024

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Contact Lens Solution Market Definition And Segments

Contact lens solution is a sterile liquid formulated explicitly for cleaning, disinfecting, rinsing, and storing contact lenses. It helps maintain lens hygiene, ensure comfort, and prevent eye infections for individuals using contact lenses.

The main types of contact lens solutions are multi-purpose, hydrogen-peroxide-based, and others. Multi-purpose contact solutions refer to solutions or fluids used for the cleaning, disinfecting, rinsing, and storing of contact lenses. Its materials include gas permeable lenses, silicone hydrogel lenses, and hybrid lenses, and it is distributed by e-commerce, retail, and other distribution channels.

The contact lens solution market covered in this report is segmented –

1) By Solution Type: Multi-Purpose, Hydrogen-Peroxide Based, Other Solution Types

2) By Material: Gas Permeable Lens, Silicone Hydrogel Lens, Hybrid Lens

3) By Distribution Channel: E-Commerce, Retail, Other Distribution Channels

The contact lens market size has grown strongly in recent years. It will grow from $3.33 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing prevalence of vision disorders, research and development innovations, aging population, changing lifestyles and fashion trends, and increasing awareness and education.

The contact lens market size is expected to see strong growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising disposable income, advancements in health and hygiene standards, customization and personalization trends, e-commerce growth, and integration of smart technologies. Major trends in the forecast period include sustainable practices, telemedicine integration, smart packaging and IoT integration, advancements in antimicrobial solutions, and augmented reality (AR) and virtual try-ons.

Rising Incidence Of Vision Disorders Fuels Growth In The Contact Lens Solution Market

The increasing incidence of vision disorders is expected to propel the growth of the contact lens market going forward. Vision disorders refer to a range of conditions affecting the visual system, including the eyes and the brain, resulting in abnormalities or impairments in the ability to see clearly, interpret visual information, or maintain proper eye health. Contact lens solutions are used in the management of vision disorders by providing a means to clean, disinfect, and store contact lenses, ensuring optimal hygiene and preventing eye infections. For instance, in November 2022, according to the Centers for Disease Control and Prevention, a US-based government administration for public health, over 3 million Americans were suffering from glaucoma (eye conditions that can damage the optic nerve), and it is expected to increase to 6.3 million by 2050. Therefore, the increasing incidence of vision disorders is driving the growth of the contact lens solution market.

Major companies operating in the contact lens solution market are AbbVie Inc., Alcon Laboratories Inc., Hoya Corporation, Bausch + Lomb Inc., Cooper Companies Inc., CooperVision Inc., VSP Vision Care Inc., Cipla Limited, Carl Zeiss Meditech AG, Santen Pharmaceutical Co. Ltd., Johnson & Johnson Vision Care Inc., Menicon Co. Ltd., City Lens, GrandVision B.V., St. Shine Optical Co. Ltd., INTEROJO Co. Ltd., Ophtecs Corporation, X-Cel Specialty Contacts, Contamac Limited, Mark'Ennovy Personalized Care SL, SynergEyes Inc., Clearlab, Stericon Pharma Pvt. Ltd., Neovision Co. Ltd., Clean Care, Ciba Vision Nordic, FreshKon

Advanced Multipurpose Contact Lens Solutions Transforming The Market

Major companies operating in the contact lens solution market are developing new products, such as advanced multipurpose contact lens solutions, to gain a competitive edge in the market. Multipurpose contact lens solutions are liquid formulations specifically designed for cleaning, disinfecting, storing, and moisturizing contact lenses. For instance, in November 2022, Bausch + Lomb Inc., a US-based eye health products company, launched Biotrue Advanced Multi-Purpose Solution, an innovative contact lens solution designed to offer enhanced moisture, advanced cleaning, and disinfection. The new Biotrue formula builds on the success of the original one. It has 25% more hyaluronan (HA) to keep lenses moist, as well as a mix of ingredients that were inspired by the Tear Film and Ocular Surface Society's DEWS II report. Biotrue Advanced aims to address the needs of contact lens wearers, particularly those experiencing dryness, by offering advanced comfort and up to 12 hours of moisture compared to the original Biotrue.

CooperVision Expands Specialty Lens Reach With Strategic Acquisition Of No7 Contact Lenses

In April 2021, CooperVision Inc., a US-based contact lens manufacturing company, acquired No 7 Contact Lens Laboratory Ltd. for an undisclosed amount. The acquisition of No7 Contact Lenses by CooperVision aims to enable the establishment of a direct-to-ECP (eye care practitioner) operation for specialty lenses and solutions in the UK, expanding access to lens designs, supporting myopia management solutions, and enhancing CooperVision's presence in the field of specialty contact lenses. No 7 Contact Lens Laboratory Ltd is a UK-based specialty lens company.

North America was the largest region in the contact lens solution market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact lens solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the contact lens solution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The contact lens solution market consists of sales of hydrogen peroxide solutions, saline solutions, enzymatic cleaners, protein remover tablets, and lens cases. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The contact lens solution market research report is one of a series of new reports from The Business Research Company that provides contact lens solution market statistics, including contact lens solution industry global market size, regional shares, competitors with contact lens solution market share, detailed contact lens solution market segments, market trends, and opportunities, and any further data you may need to thrive in the contact lens solution industry. This contact lens solution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Contact Lens Solution Market Report Scope

Report Attribute	Details
Market Size Value In 2024	$3.56 billion
Revenue Forecast In 2033	$4.58 billion
Growth Rate	CAGR of 6.5% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	1) By Solution Type: Multi-Purpose, Hydrogen-Peroxide Based, Other Solution Types 2) By Material: Gas Permeable Lens, Silicone Hydrogel Lens, Hybrid Lens 3) By Distribution Channel: E-Commerce, Retail, Other Distribution Channels
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Key Companies Profiled	AbbVie Inc.; Alcon Laboratories Inc.; Hoya Corporation; Bausch + Lomb Inc.; Cooper Companies Inc.; CooperVision Inc.; VSP Vision Care Inc.; Cipla Limited; Carl Zeiss Meditech AG; Santen Pharmaceutical Co. Ltd.; Johnson & Johnson Vision Care Inc.; Menicon Co. Ltd.; City Lens; GrandVision B.V.; St. Shine Optical Co. Ltd.; INTEROJO Co. Ltd.; Ophtecs Corporation; X-Cel Specialty Contacts; Contamac Limited; Mark'Ennovy Personalized Care SL; SynergEyes Inc.; Clearlab; Stericon Pharma Pvt. Ltd.; Neovision Co. Ltd.; Clean Care; Ciba Vision Nordic; FreshKon
Customization Scope	Request for Sample
Pricing And Purchase Options	Explore Purchase Options

Table Of Contents

1. Executive Summary

2. Contact Lens Solution Market Characteristics

3. Contact Lens Solution Market Trends And Strategies

4. Contact Lens Solution Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market

4.2. Ukraine-Russia War Impact On The Market

4.3. COVID-19 Impact On The Market

5. Global Contact Lens Solution Market Size and Growth

5.1. Global Contact Lens Solution Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Contact Lens Solution Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Contact Lens Solution Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Contact Lens Solution Market Segmentation

6.1. Global Contact Lens Solution Market, Segmentation By Solution Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Multi-Purpose

Hydrogen-Peroxide Based

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Frequently Asked Questions

What is the definition of the contact lens solution market?

How will the contact lens solution market drivers and restraints affect the contact lens solution market dynamics? What forces will shape the contact lens solution industry going forward?

The contact lens solution market major growth driver - Rising Incidence Of Vision Disorders Fuels Growth In The Contact Lens Solution Market. For further insights on the contact lens solution market, request a sample here

What is the forecast market size or the forecast market value of the contact lens solution market?

The contact lens market size has grown strongly in recent years. It will grow from $3.33 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing prevalence of vision disorders, research and development innovations, aging population, changing lifestyles and fashion trends, and increasing awareness and education. The contact lens market size is expected to see strong growth in the next few years. It will grow to $4.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising disposable income, advancements in health and hygiene standards, customization and personalization trends, e-commerce growth, and integration of smart technologies. Major trends in the forecast period include sustainable practices, telemedicine integration, smart packaging and IoT integration, advancements in antimicrobial solutions, and augmented reality (AR) and virtual try-ons. For further insights on the contact lens solution market, request a sample here

How is the contact lens solution market segmented?

The contact lens solution market is segmented
1) By Solution Type: Multi-Purpose, Hydrogen-Peroxide Based, Other Solution Types
2) By Material: Gas Permeable Lens, Silicone Hydrogel Lens, Hybrid Lens
3) By Distribution Channel: E-Commerce, Retail, Other Distribution ChannelsFor further insights on the contact lens solution market, request a sample here

Which region has the largest share of the contact lens solution market? What are the other regions covered in the report?

North America was the largest region in the contact lens solution market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contact lens solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. For further insights on the contact lens solution market, request a sample here.

Who are the major players in the contact lens solution market?

Major companies operating in the contact lens solution market report are AbbVie Inc., Alcon Laboratories Inc., Hoya Corporation, Bausch + Lomb Inc., Cooper Companies Inc., CooperVision Inc., VSP Vision Care Inc., Cipla Limited, Carl Zeiss Meditech AG, Santen Pharmaceutical Co. Ltd., Johnson & Johnson Vision Care Inc., Menicon Co. Ltd., City Lens, GrandVision B.V., St. Shine Optical Co. Ltd., INTEROJO Co. Ltd., Ophtecs Corporation, X-Cel Specialty Contacts, Contamac Limited, Mark'Ennovy Personalized Care SL, SynergEyes Inc., Clearlab, Stericon Pharma Pvt. Ltd., Neovision Co. Ltd., Clean Care, Ciba Vision Nordic, FreshKon For further insights on the contact lens solution market, request a sample here.

What are the key trends in the contact lens solution market?

Major trend in the contact lens solution market - Advanced Multipurpose Contact Lens Solutions Transforming The Market. For further insights on the contact lens solution market, request a sample here.

What are the major opportunities in the contact lens solution market? What are the strategies for the contact lens solution market?

For detailed insights on the major opportunities and strategies in the contact lens solution market, request a sample here.

How does the contact lens solution market relate to the overall economy and other similar markets?

For detailed insights on contact lens solution market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the contact lens solution industry?

For detailed insights on the mergers and acquisitions in the contact lens solution industry, request a sample here.

What are the key dynamics influencing the contact lens solution market growth? SWOT analysis of the contact lens solution market.

For detailed insights on the key dynamics influencing the contact lens solution market growth and SWOT analysis of the contact lens solution industry, request a sample here.