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Contact Lens Care Solution Market Size, Share, Analysis 2031
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Contact Lens Care Solution Market Size, Share, Analysis 2031

Segments - Contact Lens Care Solution Market by Types (Multi-purpose and Hydrogen Peroxide-based), Volumes (120ml, 360ml, 480ml, and Others), Distribution Channels (E-commerce, Eye Care Practitioners, and Retail), Materials (Gas Permeable Lens, Silicone Hydrogel Lens, and Hybrid Lens), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Trends, Share, Size, and Forecast 2023–2031

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Author : Debadatta Patel
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Fact-checked by : PARTHA PAUL
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Editor : Shruti Bhat

Upcoming | Report ID :CG-403 | 4.7 Rating | 85 Reviews | 152 Pages | Format : Docx PDF

Report Description


The global contact lens solution market was valued at USD 9.53 Billion in 2022 and is likely to reach USD 13.10 Billion by 2031, expanding at a CAGR of 3.6% during the forecast period, 2023–2031. The growth of the market is attributed to the rising prevalence of various eyes-related disorders and increasing number of contact lens wearers globally.

The contact lens solution is primarily used for lubrication of contact lenses to help in cleaning, disinfecting, and storing safely, which ensure protection of eyes from getting infection using lenses. Moreover, liquids such as enzymatic protein removers, saline, and daily cleaners are other solutions used for numerous applications including disinfecting and cleaning. The solution is widely used to avoid several inconvenience to the lens users since the lack of lubrication of the lens can cause dry eye and eyes irritation.

Contact Lens Care Solution Market Outlook

Different raw material can be used in the manufacturing of lenses considering various aspects these materials offer including oxygen permeability, water content, mechanical properties, lens thickness, and wettability. Thus, for each type of material requires a different and distinct solution. Therefore, the extensive use of various types of materials for solutions represent a key aspect of the market growth.

  • Adoption of contact lenses as a comfortable alternative to eyeglasses and increasing number of people using contact lens globally are key factors driving the market growth.

  • Rising demand for lens cleaning and disinfecting solutions among the users are expected to increase the market growth in the coming years.

  • Increasing development of advanced lens care solutions and innovation of new contact lens materials are projected to propel the market expansion in the coming years.

  • Rising awareness about various side-effects of using contact lens care solutions such as blockage of oxygen supply to eyes, dry eyes, and diminished corneal reflex act as key restraining factors that can hamper the market growth.

  • Ongoing R&D as well as large investment from some key players are presenting numerous opportunities for the market expansion.

Scope of the Report

The report on the global contact lens care solution market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been involved in this report.

Attributes

Details

Report Title

Contact Lens Care Solution Market - Global Industry Analysis, Trends, Growth, Share, Size, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Multi-purpose and Hydrogen Peroxide-based), Volumes (120ml, 360ml, 480ml, and Others), Distribution Channels (E-commerce, Eye Care Practitioners, and Retail), Materials (Gas Permeable Lens, Silicone Hydrogel Lens, and Hybrid Lens)

Regional Scope

Asia Pacific, Latin America, North America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Competitive Landscape, Size, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Asepticys, LLC, CooperVision, Alcon Laboratories, Inc.; CLB VISION, Inc., FreshKon, INTEROJO Co. Ltd., (Novartis AG), Bausch + Lomb, Incorporated, Tangible Science, Menicon Co., Ltd., Allergan, Ciba Vision, and Johnson & Johnson Vision Care, Inc.

Global Contact Lens Care Solution Market Segment Insights

In terms of types, the market is divided into multi-purpose and hydrogen peroxide-based. The multi-purpose segment is expected to hold a significant market share during the forecast period owing to its all-in-one purpose solution adopted for eradicating germs, debris, and deposits from the lens. It also offers storing and disinfecting capabilities.

However, the hydrogen peroxide-based segment is anticipated to exhibit a substantial growth rate in the coming years owing to its wide applications in disinfecting and cleaning the contact lenses.

Contact Lens Care Solution Market Types

On the basis of volumes, the global contact lens care solution market is segmented into 120ml, 360ml, 480ml, and others. The 120ml segment is likely to register a high CAGR during the forecast period. This is attributed to the rising usage of contact lenses for cosmetic purposes.

Additionally, individuals wearing contact lenses on trial basis have desire to purchase the solution in lower volume, which are mostly available at lower prices. Meanwhile, the 480ml segment is anticipated to hold a major market share since users who use contact lenses regularly are predicted to buy the solution that comes with higher volume due to its cost-effective option.

Based on the distribution channels, the market is categorized into e-commerce, eye care professionals, and retail. The retail segment is predicted to constitute a major market share in the coming years due to users’ preference for over the counter (OTC) service for buying the solution.

Moreover, special retail discounts attract customers to buy OTC products. Meanwhile, the e-commerce segment is growing significantly over the recent years and is expected to account for a large market share during the forecast period due to high convenience of buying and availability of different types of products on the online sale websites.

On the basis of materials, the global contact lens care solution market is divided into the gas permeable lens, soft lens, and hybrid lens. The soft lens segment is anticipated to grow substantially in the coming years owing to rising demand for the materials in the optical lens industry.

The soft lenses are produced by using gel-like and water-containing plastic known as a hydrogel, and are comfortable to use. Meanwhile, the gas permeable lens segment is projected to expand at reasonable growth during the analysis period.

In terms of regions, the market is generally categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America held a large share of the global market in 2020 owing to rising number of people using contact lens and the presence of key global players especially in the U.S.

The region witnesses a series of development on clinically trailing new solutions for the elimination of infection-causing bacteria in lenses. On the other hand, the market in Asia Pacific is likely to expand at a fast CAGR during the forecast period owing to rising number of contact lens solution suppliers in the region.

Segments

The global contact lens care solution market has been segmented based on

Types

  • Multi-purpose
  • Hydrogen Peroxide-based

Volumes

  • 120m
  • 360ml
  • 480ml
  • Others

Distribution Channels

  • E-commerce
  • Eye Care Practitioners
  • Retail

Materials

  • Gas Permeable Lens
  • Silicone Hydrogel Lens
  • Hybrid Lens

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Asepticys, LLC
  • CooperVision
  • Alcon Laboratories, Inc
  • CLB VISION, Inc
  • FreshKon
  • INTEROJO Co. Ltd
  • (Novartis AG)
  • Bausch + Lomb
  • Incorporated
  • Tangible Science
  • Menicon Co., Ltd
  • Allergan
  • Ciba Vision
  • Johnson & Johnson Vision Care, Inc.

Competitive Landscape

Major players competing in the global contact lens care solution market include Asepticys, LLC; CooperVision; Alcon Laboratories, Inc.; CLB VISION, Inc.; FreshKon; INTEROJO Co. Ltd.; (Novartis AG); Bausch + Lomb, Incorporated; Tangible Science; Menicon Co., Ltd.; Allergan; Ciba Vision; and Johnson & Johnson Vision Care, Inc.

Some of these businesses are involved in adopting numerous market strategies such as merger, acquisition, collaboration, partnership, product launch, R&D activities, and capacity expansion to increase market share and global presence.

For instance, in March 2019, Tangible Science, a global supplier of contact lens solution, announced the launch of a multi-purpose cleaning solution, Tangible Hydra-PEG for the coated lenses. This strategy was adopted to ensure easy cleaning, storage, and disinfection of gas permeable contact lenses.

In May 2019, Asepticys, LLC, a major global supplier of eye care and therapeutics solution, launched its new clinical trial of contact lens solution that would support for rapid disinfection.

 Contact Lens Care Solution Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Contact Lens Care Solution Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Contact Lens Care Solution Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Contact Lens Care Solution Market - Supply Chain
  4.5. Global Contact Lens Care Solution Market Forecast
     4.5.1. Contact Lens Care Solution Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Contact Lens Care Solution Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Contact Lens Care Solution Market Absolute $ Opportunity
5. Global Contact Lens Care Solution Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Contact Lens Care Solution Market Size and Volume Forecast by Types
     5.3.1. Multi-purpose
     5.3.2. Hydrogen Peroxide-based
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Contact Lens Care Solution Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Contact Lens Care Solution Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Contact Lens Care Solution Demand Share Forecast, 2019-2026
7. North America Contact Lens Care Solution Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Contact Lens Care Solution Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Contact Lens Care Solution Market Size and Volume Forecast by Types
     7.4.1. Multi-purpose
     7.4.2. Hydrogen Peroxide-based
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Contact Lens Care Solution Demand Share Forecast, 2019-2026
8. Latin America Contact Lens Care Solution Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Contact Lens Care Solution Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Contact Lens Care Solution Market Size and Volume Forecast by Types
     8.4.1. Multi-purpose
     8.4.2. Hydrogen Peroxide-based
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Contact Lens Care Solution Demand Share Forecast, 2019-2026
9. Europe Contact Lens Care Solution Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Contact Lens Care Solution Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Contact Lens Care Solution Market Size and Volume Forecast by Types
     9.4.1. Multi-purpose
     9.4.2. Hydrogen Peroxide-based
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Contact Lens Care Solution Demand Share Forecast, 2019-2026
10. Asia Pacific Contact Lens Care Solution Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Contact Lens Care Solution Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Contact Lens Care Solution Market Size and Volume Forecast by Types
     10.4.1. Multi-purpose
     10.4.2. Hydrogen Peroxide-based
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Contact Lens Care Solution Demand Share Forecast, 2019-2026
11. Middle East & Africa Contact Lens Care Solution Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Contact Lens Care Solution Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Contact Lens Care Solution Market Size and Volume Forecast by Types
     11.4.1. Multi-purpose
     11.4.2. Hydrogen Peroxide-based
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Contact Lens Care Solution Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Contact Lens Care Solution Market: Market Share Analysis
  12.2. Contact Lens Care Solution Distributors and Customers
  12.3. Contact Lens Care Solution Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Asepticys, LLC
     12.4.2. CooperVision
     12.4.3. Alcon Laboratories, Inc
     12.4.4. CLB VISION, Inc
     12.4.5. FreshKon
     12.4.6. INTEROJO Co. Ltd
     12.4.7. (Novartis AG)
     12.4.8. Bausch + Lomb
     12.4.9. Incorporated
     12.4.10. Tangible Science
     12.4.11. Menicon Co., Ltd
     12.4.12. Allergan
     12.4.13. Ciba Vision
     12.4.14. Johnson & Johnson Vision Care, Inc.

Methodology

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