Contact Lens Solution Market Size, Share & Trends Analysis Report By Type (Multi-purpose, Hydrogen Peroxide-based), By Usage, By Material, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Contact Lens Solution Market Size & Trends

The global contact lens solution market size was valued at USD 3.60 billion in 2023 and is projected to grow at a CAGR of 3.1% from 2024 to 2030. The expected growth is attributed to factors such as an unceasing rise in vision impairments leading to the growing use of contact lenses and other eye care products, changing consumer preferences and inclination towards using contact lenses instead of spectacles, and innovation-backed new product development. The availability of multiple products through online platforms and increasing awareness about the significance of eye health are also expected to generate greater demand for this market in the upcoming years.

The existing customer base plays a vital role in the constant rate of growth experienced by this market. In recent years, as technology has become more accessible and affordable, multiple users have shifted from using other eyewear products to adopting contact lenses. Some significant reasons driving this change in consumer behavior are ease of use, the convenience offered by the lenses, the availability of reasonably priced products in the market, and more. For instance, in 2023, the U.S. exported nearly 1.42 billion units of contact lenses worldwide. It has positively influenced the demand for contact lens solutions in the market.

The growing vision impairments and eye ailments also contribute to the growth of this industry. According to the World Health Organization (WHO), 2.2 billion individuals worldwide suffer from near or distant vision impairment. Refractive errors and cataracts are the primary causes of most vision impairment and blindness. This has contributed to an increase in number of people using contact lenses for better vision, leading to a growing demand for contact lens solutions.

Type Insights

The multi-purpose contact lens solutions segment dominated the global industry and accounted for a revenue share of 68.5% in 2023. The factors contributing to the market growth are the benefits offered by these solutions, such as convenience, versatility, and ease of use for all sorts of purposes, including disinfecting, cleaning, rinsing, and storage of contact lenses. Multi-purpose solutions are highly adopted by soft contact lens users, accounting for a significant share of contact lens consumers. Moreover, the increased use of these solutions is attributed to enhanced comfort, reduced lysozyme deposits, and corneal fluorescein staining.

The hydrogen peroxide-based contact lens solutions segment is expected to experience the fastest CAGR of 4.0% during the forecast period. Demand for these solutions is primarily influenced by the features offered by the products in terms of cleaning and disinfecting the lenses and the overall hygiene requirements of the lens users. The elements assist the users in addressing the presence of lipids, proteins, and other outside deposits accumulated on the lens while using. Unlike multi-purpose solutions, these solutions are free from preservatives, which makes them more suitable for users with sensitivity and allergy issues.

Usage Insights

Based on the usage, the 480mL segment accounted for the largest market revenue share in 2023. The rising demand for large solutions among regular contact lens users is expected to purchase the solution in bulk as a cost-effective option. Moreover, a greater variety of options is usually offered at lower costs. Moreover, rising advancements in solutions are driving the market to innovate solutions compatible with all types of lenses.

The 120mL segment is anticipated to experience the fastest CAGR during the forecast period. The increasing use of contact lenses for aesthetic reasons has fueled the market expansion. Furthermore, individuals wearing the contact lenses on a trial basis purchase the solution in smaller amounts at reduced prices. These factors are anticipated to fuel the growth of this segment.

Distribution Channel Insights

The retail distribution segment dominated the global industry in 2023. Rising preference for over-the-counter (OTC) products drives the market due to their accessibility and availability. Moreover, discounts upon collective purchases, immediate possession of products, and in-person assistance attract a broad consumer base to retail distribution. Consumers prefer the brick-and-mortar store shopping experience as it allows them to examine the product's quality before buying.

The e-commerce distribution segment is projected to experience the fastest CAGR over the forecast period. The market is driven by the continuous growth of the e-commerce industry and its benefits, such as allowing users to compare the available products offered by multiple buyers and purchase contact lens solutions based on their needs and demands. Moreover, doorstep delivery services offered by e-commerce websites provide unmatched convenience and ease of shopping to obtain contact lens solutions at home. In addition, seasonal and festive offers encourage consumers to purchase on these E-commerce platforms.

Material Insights

Based on the material, the hybrid lens segment accounted for the largest revenue share in 2023. Hybrid lenses are designed for individuals with farsightedness, nearsightedness, and astigmatism, who require multifocal correction, have undergone LASIK, and those diagnosed with Keratoconus, contributing to the market demand. Moreover, bifocal and multifocal hybrid lenses are designed for individuals needing clear vision for near and far distances. Therefore, the presence of several eye conditions and diseases is attributed to the rising demand for different types of contact lenses and contact lens solutions.

Gas permeable is anticipated to experience the fastest CAGR over the forecast period. The market is driven by the advantages offered by the category, such as its ability to allow more oxygen to reach the front surface. Furthermore, GP lenses are utilized as they provide sharper vision and durability for extended periods. These lenses also offer the possibility of slow progression of commonly identified nearsightedness. Availability of customized and personalized products made up of Gas permeable lenses and cost-effectiveness are expected to drive growth for this segment.

Regional Insights

The North America contact lens solution market dominated the global industry in 2023 with a revenue share of 39.0%. This market is primarily driven by the presence of multiple key players in the region and a large number of existing contact lens users in countries such as the U.S., Canada and Mexico. The growing cases of vision impairment, an increasing number of contact lens users, and rising awareness regarding hygiene requirements associated with the use of contact lenses are expected to generate greater growth for this market in the approaching years.

U.S. Contact Lens Solution Market Trends

The U.S. contact lens solution market dominated the regional industry in 2023. The growth of this market is mainly influenced by the presence and availability of numerous brands offering advanced contact lens solutions, increasing inclination towards the use of contact lenses over regular eyewear and spectacles, enhanced distribution by key brands, and a diverse range of product portfolios offered by multiple companies operating in this industry. A large quantity of contact lens exports from the U.S. to multiple countries also contributes to the growth of this market.

Europe Contact Lens Solution Market Trends

Europe contact lens solution market is expected to experience significant growth during the forecast period. This market is primarily driven by multiple aspects, such as the increasing number of contact lens users, growing mindfulness regarding cleaning and disinfecting the lenses, the rise in eye ailments in the region, and an increase in awareness regarding the role of ophthalmic health in the overall health and well-being of individuals. Awareness initiatives are also contributing to the growth of this market. For instance, in March 2024, Alcon, one of the prominent companies in the ophthalmic products and solutions industry, launched a social impact initiative in Switzerland with its local partners, offering nearly 325 dry eye and glaucoma tests. The initiative catered to approximately 60,000 visitors during this collaborative community program.

Germany contact lens solution market is anticipated to grow at a lucrative rate from 2024 to 2030. Aspects such as enhanced healthcare infrastructure in the country and continuously increasing research & development efforts mainly influence this market by the organizations and institutes. The growth in disposable income, the existing number of contact lens users, and ease of availability are a few other factors contributing to this industry's growth.

Asia Pacific Contact Lens Solution Market Trends

The Asia Pacific contact lens solution market is anticipated to experience the fastest growth during the forecast period. The projected growth is attributed to numerous aspects, such as growing disposable income levels, the presence of several major market participants in the industry, increasing response from young customers, especially millennials, research and development focused on innovation, and the growing availability of extensive collections offered by the global brands in the region.

Japan contact lens solution market held a significant revenue share of the regional industry in 2023. This market's growth is attributed to its large existing customer base, growing awareness regarding hygiene requirements associated with contact lens use, innovation, and the availability of domestic and international brands. This market is also influenced by the large quantities of contact lenses exported by the U.S. for users in the country.

Key Contact Lens Solution Company Insights

Some of the key companies in the contact lens solution market include Alcon, Bausch + Lomb, Allergan (AbbVie), Ciba Vision (Alcon), CooperVision and others. To address the growing competition in the market, the key market participants have adopted strategies such as enhanced research & development activities, focus on innovation, new product launches, social impact initiatives, and partnerships & collaborations.

• Alcon Vision, one of the prominent organizations in the ophthalmic products and solutions market offers a range of products such as contact lenses, eye care products, cataract treatment for patients and more. For eye-care professionals, the company offers a wide collection of products and services such as cataract surgery equipment, refractive technology, professional resources and others. The contact lens solutions portfolio of the company includes OPTI-FREE Puremoist, OPTI-FREE Replenish, OPTI-FREE Replenish Rewetting Drops, OPTI-FREE Puremoist Rewetting Drops, CLEAR CARE, CLEAR CARE PLUS, and CLEAR CARE RINSE & Go Solution.

• Bausch + Lomb, a significant market participant in the eye health products market offers a variety of products including contact lenses, lens care, pharmaceuticals, over-the-counter eye care, supplements, diagnostic products, surgical products, optical accessories, safety & industrial care, and eyewear cleaning products. The contact lens solutions offered by the company include BioTrue, Renu Fresh Multi Purpose, and others.

Recent Developments

• In April 2024, Bausch + Lomb, one of the key companies in the contact lens and eye care market, announced that through its Recycling programs, such as Biotrue® Eye Care and ONE by ONE, the company had collected 84,343,540 units of multiple used products including contact lenses, lens care materials, and eye care items as well. This collection weighs nearly 510,116 pounds. The company puts a step forward toward its sustainability and environmental responsibility goals through these initiatives.

Contact Lens Solution Market Report Scope

Global Contact Lens Solution Market Report Segmentation

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 2018 to 2030. For this study, Grand View Research has segmented the global contact lens solution market report based on type, usage, material, distribution channel, and region.

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Multi-purpose

  • Hydrogen Peroxide-based

• Usage Outlook (Revenue, USD Million, 2018 - 2030)

  • 120mL

  • 360mL

  • 480mL

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • SMEs Gas Permeable

  • Silicone Hydrogel

  • Hybrid Lens

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • E-commerce

  • Eye Care Professionals

  • Retail

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Arabia

    • UAE

    • South Africa