Contact Lens Solution Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Contact Lens Solution Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 5, 2024 /EINPresswire.com/ -- The contact lens solution market has experienced robust growth in recent years, expanding 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 the increasing prevalence of vision disorders, research and development innovations, the aging population, changing lifestyles, and fashion trends, and increasing awareness and education.
Strong Future Growth Anticipated
The contact lens solution market is projected to continue its strong growth, reaching $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.
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Growth driver of the contact lens solution market
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.
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Major Players and Market Trends
Key players in the contact lens solution market include 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.
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.
Segments:
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
Geographical Insights: North America Leading the Market
North America was the largest region in the contact lens solution market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of contact lens solution.
Contact Lens Solution Market Definition
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.
The main types of contact lens solutions are multi-purpose, hydrogen-peroxide-based, and others. Multi-purpose contact solutions refer to solutions or fluids used for the cleaning, disinfecting, rinsing, and storing of contact lenses. Its materials include gas permeable lenses, silicone hydrogel lenses, and hybrid lenses, and it is distributed by e-commerce, retail, and other distribution channels.
Contact Lens Solution Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Contact Lens Solution Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on contact lens solution market size, contact lens solution market drivers and trends, contact lens solution market major players, competitors' revenues, market positioning, and market growth across geographies. The contact lens solution market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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