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Contact Lens Solution Market Expected To Encourage Expansion At A USD 3.73 Billion By 2025: Grand View Research Inc.

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Contact Lens Solution Market Expected To Encourage Expansion At A USD 3.73 Billion By 2025: Grand View Research Inc.

February 25
18:26 2020
Contact Lens Solution Market Expected To Encourage Expansion At A USD 3.73 Billion By 2025: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, 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 near future.

According to a report, “ Contact Lens Solution Market Size, Share & Trends Analysis Report By Type (Multi-purpose, Hydrogen peroxide-based), By Volume, By Material, By Distribution Channel, By Region, And Segment Forecasts, 2019 – 2025 ”, published by Grand View Research, Inc.,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.

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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.

Europe contact lens Solution Market

Further key findings from the report suggest:

  • 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.

Material Insights

Based on material, the market is classified into the gas permeable lens, soft lens, and hybrid lens. 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 materials requires different Solution. Thus, varying categories of materials use various Solution thereby propelling the growth.

Global contact lens Solution Market

On the basis of market share, the demand for Solution is the highest in soft lenses because they are used for manufacturing daily use lens. Soft lenses are made using gel-like, water-containing plastic, called as 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 adoption of contact lens Solution.

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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)

  • Multi-purpose

  • Hydrogen peroxide-based

Contact Lens Solution Volume Channel Outlook (Revenue, USD Million, 2014 – 2025)

  • 120mL

  • 360mL

  • 480mL

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)

  • E-commerce

  • Eye Care Practitioners

  • Retail

Contact Lens Solution Regional Outlook (Revenue, USD Million, 2014 – 2024)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Singapore

    • Australia

    • South Korea

  • South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • UAE

    • Saudi Arabia

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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Company Name: Grand View Research, Inc.
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Website: https://www.grandviewresearch.com/industry-analysis/contact-lens-solution-market