The global contact lens solution market was valued at USD 2.67 billion in 2018 and is anticipated to expand at a CAGR of 4.6% from 2019 to 2025. Contact lens solution is important to keep the lenses and eyes lubricated. They are used to disinfect, clean, and store the lenses and to prevent eye infections. A rise in the number of contact lens wearers, especially across developing countries is expected to drive the market growth.
Contact lens solution is useful for cleaning, disinfecting, and storing contacts. Apart from the widely used multipurpose and hydrogen peroxide-based Solution, some other liquids including saline, daily cleaners, and enzymatic protein removers, among others are also used for various singular applications, such as cleaning and disinfecting. The adoption of contact lenses has increased substantially due to the increasing demand for a comfortable alternative to eyeglasses. This, in turn, is projected to drive the product demand in the near future.
Some eye infections can lead to the development of acanthamoeba keratitis eye disease. This can result in little or complete loss of vision. Also, failure to follow the replacement schedules and a lack of proper eye care may lead to conditions such as Contact Lens-induced Acute Red Eye (CLARE). Compliance with lens care regimen to prevent infections and the use of lens care solutions is of crucial importance for contact lens wearers.
Various solutions are used for cleaning and disinfecting the contact lens before wearing them. The lack of lubrication can lead to dry eye, causing eye irritation. With the rising innovations and development of new contact lens materials, the need for solutions that can lubricate and disinfect such products is growing. These factors are anticipated to drive the market at a significant CAGR in the forthcoming years.
The type segment of the contact lens solution market is categorized into multi-purpose and hydrogen peroxide-based. The former type is an all-in-one-purpose solution widely used for removing germs, debris, and deposits from the lens. It also provides disinfecting and storing capabilities. The adoption of multi-purpose solutions is high, as it is widely used by soft contact lens wearers that occupy a higher share of the contact lens market.
The Solution based on hydrogen peroxide is used by customers to disinfect, store, and clean the contact lenses. The solution users are provided with a special storage case that reacts with hydrogen peroxide. It cannot be directly put into the eyes and requires a certain level of complexity in handling it. This factor restricts the adoption to only a specific number of people thereby contributing to a low market share.
Based on volume, the market is bifurcated into four categories namely 120mL, 360mL, and 480ml. The 120ml segment is expected to rise at a high CAGR over the forecast period. This is attributed to the increasing use of contact lenses for cosmetic purposes. Also, individuals wearing contact lenses on a trial basis prefer to purchase the Solution in lower volume available at low prices. Such factors are projected to drive segment growth.
The 480ml segment is expected to hold the largest market share. Users who wear contact lenses regularly are anticipated to purchase the solution in larger volumes as a cost-effective option, as they need to disinfect their lenses on a regular basis. Furthermore, a larger volume of solutions is generally available at cheaper prices. The 360ml segment is expected to witness growth at a steady CAGR and is projected to hold a moderate market share in the forthcoming years.
Based on the distribution channel, the market is segmented into e-commerce, eye-care professionals, and retail. The retail segment is expected to hold the majority of the market share in the forthcoming years. Most users prefer Over-the-Counter (OTC) products due to the ease of access. Also, special retail discounts attract more customers to purchase OTC products.
The e-commerce segment has gained significant traction due to increased convenience and high availability in recent years. Also, it enables manufacturers to gain a competitive edge by expanding their presence. The segment is anticipated to expand at a CAGR of 5.9% over the forecast period. A relatively lower number of people go to eye care professionals to purchase Solutions exclusively, thereby contributing to a reasonable CAGR over the forecast period.
Based on material, the market is classified into gas permeable lenses, soft lenses, and hybrid lenses. The materials used for manufacturing lenses depend on various factors, such as lens thickness, water content, mechanical properties, oxygen permeability, and wettability. Each type of material requires a different solution. Thus, varying categories of materials use various solutions thereby propelling the growth.
On the basis of market share, the demand for solutions is the highest in soft lenses because they are used for manufacturing daily use lenses. Soft lenses are made using gel-like, water-containing plastic, called a hydrogel, and are comfortable to wear. The gas permeable lens segment is expected to witness moderate growth and market share over the forecast period. Increasing demand for soft or silicon and permeable lenses has encouraged manufacturers to introduce hybrid lenses, which in turn will drive the adoption of contact lens solutions.
North America holds a majority of the global market share, due to an increase in the number of vendors in countries such as the U.S. focusing on clinically trialing new solutions for the removal of infection-causing bacteria from lenses. For instance, In May 2019, Asepticys, LLC, a provider of solutions used for eye care and therapeutics, announced the completion of the clinical trial of a contact lens solution that will be used for rapid disinfection.
Asia Pacific is expected to expand at the fastest CAGR over the forecast period. This growth is attributed to an increasing number of acquisitions by leading contact lens solution providers, such as Ophtecs Corporation to expand its business. South America is expected to witness moderate growth over the forecast period.
The key market participants include Alcon 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.
The companies focus on launching new solutions and coatings for contact lenses. For instance, In March 2019, Tangible Science, a provider of contact lens solutions, announced the launch of a multi-purpose cleaning solution for the lenses coated with Tangible Hydra-PEG. The product will enable easy cleaning, storage, and disinfection of gas-permeable contact lenses.
Base year for estimation
Actual estimates/Historical data
2014 - 2017
2019 - 2025
Revenue in USD Million & CAGR from 2019 to 2025
North America, Europe, Asia Pacific, South America, and MEA
U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Argentina, Brazil, UAE and Saudi Arabia.
Revenue forecast, company share, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5 analysts working days)
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global contact lens solution market based on type, volume, material, distribution channel and regions:
Type Outlook (Revenue, USD Million, 2014 - 2025)
Volume Channel Outlook (Revenue, USD Million, 2014 - 2025)
Material Outlook (Revenue, USD Million, 2014 - 2025)
Gas Permeable Lens
Silicone Hydrogel Lens
Distribution Channel Outlook (Revenue, USD Million, 2014 - 2025)
Eye Care Practitioners
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East and Africa
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