The global contact lens solution market size is expected to reach USD 3.73 billion by 2025, expanding at a CAGR of 4.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing number of cosmetic lens wearers and a rise in the participation of outdoor sporting and recreational activities are some of the key factors projected to drive the growth. These Solution are used for disinfecting, cleaning, and wetting the contact lenses. They are also used for storing the contacts when not being used. This factor is anticipated to further fuel the demand for the solution.
A variety of contact lens Solution are available, which are customized based on the type of material used in contact lenses. The Solution are also made available in varied volume categories for the enhanced convenience of the users, including occasional and daily wearers. Contact lens solution can be purchased directly from the practitioners, e-commerce sites, and through the retail network. The Solution available in the market are either multipurpose, which contain preservatives or hydrogen peroxide-based, which are used as enzymatic and daily cleaners.
In the type segment, the hydrogen peroxide-based segment is expected to register the fastest CAGR over the forecast period. By volume, the 480ml segment is expected to hold to continue holding the largest market share over the forecast period. On the basis of material, the demand for Solution used in silicone hydrogel is expected to register the highest market share. This is due to an increase in R&D activities to enhance the capabilities of soft lenses used for manufacturing contact lenses. Factors, such as increasing concerns regarding infections and dryness in eyes is anticipated to drive the demand for contact lens Solution.
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Contact Lens Solution Market Report Highlights
• Market players focus on launching multi-purpose Solution for various coating technologies such as HydraPEG
• An increasing number of clinical trials for the approval of contact lens Solution for multiple uses is a key trend observed in the market
• Asia Pacific is expected to register significant growth over the forecast period, owing to the large-scale adoption of contact lens
• The contact lens solution market key players areAlcon Laboratories, Inc. (Novartis AG); Bausch + Lomb, Incorporated; Allergan; Ciba Vision; CLB VISION; CooperVision, Inc.; FreshKon; INTEROJO Co. Ltd.; Johnson & Johnson Vision Care, Inc.; and Menicon Co., Ltd.
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Contact Lens Solution Market Segmentation
Grand View Research has segmented the global contact lens Solution market based on type, volume, material, distribution channel, and region:
Contact Lens Solution Type Outlook (Revenue, USD Million, 2014 – 2025)
• Hydrogen peroxide-based
Contact Lens Solution Volume Channel Outlook (Revenue, USD Million, 2014 – 2025)
Contact Lens Solution Material Outlook (Revenue, USD Million, 2014 – 2025)
• Gas permeable lens
• Silicone hydrogel lens
• Hybrid lens
Contact Lens Solution Distribution Channel Outlook (Revenue, USD Million, 2014 – 2025)
• Eye Care Practitioners
Contact Lens Solution Regional Outlook (Revenue, USD Million, 2014 – 2024)
• North America
• Asia Pacific
• South Korea
• South America
• Middle East & Africa
• Saudi Arabia
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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