Contact Lens Care Solution Market

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.

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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.

Market Drivers, Restraints, Trends, and Opportunities

• 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.

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.

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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.