Contact Lens Solution Global Market
The Contact Lens Solution Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Contact Lens Solution Global Market Report 2024, 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.
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.
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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
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.
The contact lens solution market report table of contents includes:
1. Executive Summary
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