Overview and Scope
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.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The contact lens solution market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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