(MENAFN- PR Newswire) NEW YORK, May 31, 2023 /PRNewswire/ --The contact lens solutions market
size is estimated to grow by USD 435.7 million from 2022 to 2027. Moreover, the growth momentum will
progress at a
CAGR of 3.34% during the forecast period.
The market is segmented by type (multipurpose, hydrogen peroxide-based, and rigid gas permeable and others), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The multipurpose segment will account for a significant share of market growth during the forecast period. Multipurpose contact lens solutions offer numerous advantages, such as the ability to clean, disinfect, and store contact lenses in a single solution. Moreover, the increasing awareness about the importance of proper contact lens care has increased the demand for multipurpose contact lens solutions. These factors will boost the growth of the segment during the forecast period. The increased preference for contact lenses over spectacles is driving market growth. Contact lenses improve all-around vision and provide clearer peripheral vision. They eliminate glare and are comfortable to wear. These advantages have made contact lenses more popular than spectacles, which will fuel market growth during the forecast period. To understand more about the market,
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![Technavio has announced its latest market research report titled Global Contact Lens Solutions Market]( "Technavio has announced its latest market research report titled Global Contact Lens Solutions Market")
Technavio has announced its latest market research report titled Global Contact Lens Solutions Market
Contact lens solutions market insights -
Vendors : 15+, Including Alcon Inc., Allergan, Aqualens, Avizor S. A., Bausch Health Co. Inc., Carl Zeiss AG, CLEAR CONSCIENCE LLC, Eye Care Solutions, Horien Medical Sp. z o.o., HOYA Corp., Johnson and Johnson Services Inc., KOREA Medicare Co. Ltd., Menicon Co. Ltd., Novartis AG, OC VISION, Oculus Pvt. Ltd., Palmist Healthcare Pvt Ltd., Schalcon S.p.A, Silverson Machines Inc., The Cooper Companies Inc., among others Coverage:
Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors Segments:
Type (multipurpose, hydrogen peroxide-based, and rigid gas permeable and others), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa)
In 2017, the contact lens solutions market was valued at USD 2,199.72 million . From a regional perspective, APAC held the largest market share, valued at USD 838.10 million .
Contact lens solutions market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria Adoption rates Adoption lifecycle Drivers of price sensitivity For highlights on customer landscape analysis, download a sample !
Contact lens solutions market - Vendor insights
The growing competition in the market is compelling vendors to adopt various growth strategies. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including
Allergan -
The company offers contact lens solutions such as Refresh contact solutions. Aqualens -
The company offers contact lens solutions such as Comfort Cleaner 60ml and 120ml. Avizor S. A. -
The company offers contact lens solutions such as Unica, One step, and All clean. Bausch Health Co. Inc. -
The company offers contact lens solutions under the brand Renu.
Contact lens solutions market
– Market dynamics
Major trends
High brand loyalty Growing prevalence of vision impairment Advancement in technology
High brand loyalty
is a key trend influencing market growth. Established market players have a broad customer base, which makes it difficult for private brands and new entrants to find shelf space for their products. If a particular product is not available in stores due to limited sales or demand, it can be ordered from the catalog or the company's website. Consumers prefer to order from branded manufacturers, leading to stiff private-label competition. Therefore, brand loyalty will have a positive impact on market growth during the forecast period.
Key challenges
Growing number of counterfeit products Low awareness Stringent regulations
The growing number of counterfeit products is challenging market growth. The manufacturing, marketing, and sale of counterfeit eye care products are increasing with the rise in awareness about eye care and the opportunities offered to merchants. Consumers purchase counterfeit products that are available at low prices. The presence of counterfeit goods reduces the profit margins and brand names of original manufacturers. Moreover, the raw materials used to make counterfeit products are harmful to the body. Therefore, the presence of counterfeit products may hinder the introduction of contact lenses, thereby impacting the demand for contact lens solutions.
drivers
& challenges have an impact on
market dynamics and can impact businesses.
find some insights from the sample report!
The contact lens solutions market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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What are the key data covered in this contact lens solutions market report?
CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the contact lens solutions market between 2023 and 2027 Precise estimation of the size of the contact lens solutions market and its contribution to the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the contact lens solutions market across North America, Europe, APAC, South America, and Middle East and Africa A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of contact lens solutions market vendors
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Related Reports:
The soft contact lens market size is expected to increase by USD 1.74 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.21%. The rise in the number of people with eye disorders is notably driving the soft contact lens market growth, although factors such as lack of awareness and access to care may impede the market growth.
The contact lenses market size is expected to grow by USD 3.92 billion from 2020 to 2025. The growth momentum of the market is expected to accelerate at a CAGR of 5.16%. One of the key factors driving the market growth is the rising adoption of daily disposable contact lenses, although stringent regulations may impede market growth.
| Contact Lens Solutions Market Scope |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & CAGR | Accelerate at a CAGR of 3.34% |
| Market growth 2023-2027 | USD 435.7 million |
| Market structure | Fragmented |
| YoY growth 2022-2023
(%) | 3.16 |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution | APAC at 38% |
| Key countries | US, China, UK, Germany, and France |
| Competitive landscape | Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
| Key companies profiled | Alcon Inc., Allergan, Aqualens, Avizor S. A., Bausch Health Co. Inc., Carl Zeiss AG, CLEAR CONSCIENCE LLC, Eye Care Solutions, Horien Medical Sp. z o.o., HOYA Corp., Johnson and Johnson Services Inc., KOREA Medicare Co. Ltd., Menicon Co. Ltd., Novartis AG, OC VISION, Oculus Pvt. Ltd., Palmist Healthcare Pvt Ltd., Schalcon S.p.A, Silverson Machines Inc., and The Cooper Companies Inc. |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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reports
Table of contents
1 Executive Summary
1.1 Market overview Exhibit 01: Executive Summary – Chart on Market Overview Exhibit 02: Executive Summary – Data Table on Market Overview Exhibit 03: Executive Summary – Chart on Global Market Characteristics Exhibit 04: Executive Summary – Chart on Market by Geography Exhibit 05: Executive Summary – Chart on Market Segmentation by Type Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel Exhibit 07: Executive Summary – Chart on Incremental Growth Exhibit 08: Executive Summary – Data Table on Incremental Growth Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem Exhibit 10: Parent market Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million) Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million) Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%) Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global contact lens solutions market 2017 - 2021
Exhibit 18: Historic Market Size – Data Table on global contact lens solutions market 2017 - 2021 ($ million)
4.2 Type Segment Analysis 2017 - 2021
Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)
4.3 Distribution Channel Segment Analysis 2017 - 2021
Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)
4.4 Geography Segment Analysis 2017 - 2021
Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
4.5 Country Segment Analysis 2017 - 2021
Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
5.1 Five forces summary Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
5.6 Threat of rivalry Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
5.7 Market condition Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
6.1 Market segments Exhibit 30: Chart on Type - Market share 2022-2027 (%) Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
6.2 Comparison by Type Exhibit 32: Chart on Comparison by Type Exhibit 33: Data Table on Comparison by Type
6.3 Multipurpose - Market size and forecast 2022-2027
Exhibit 34: Chart on Multipurpose - Market size and forecast 2022-2027 ($ million) Exhibit 35: Data Table on Multipurpose - Market size and forecast 2022-2027 ($ million) Exhibit 36: Chart on Multipurpose - Year-over-year growth 2022-2027 (%) Exhibit 37: Data Table on Multipurpose - Year-over-year growth 2022-2027 (%)
6.4 Hydrogen peroxide-based - Market size and forecast 2022-2027
Exhibit 38: Chart on Hydrogen peroxide-based - Market size and forecast 2022-2027 ($ million) Exhibit 39: Data Table on Hydrogen peroxide-based - Market size and forecast 2022-2027 ($ million) Exhibit 40: Chart on Hydrogen peroxide-based - Year-over-year growth 2022-2027 (%) Exhibit 41: Data Table on Hydrogen peroxide-based - Year-over-year growth 2022-2027 (%)
6.5 Rigid gas permeable and others - Market size and forecast 2022-2027
Exhibit 42: Chart on Rigid gas permeable and others - Market size and forecast 2022-2027 ($ million) Exhibit 43: Data Table on Rigid gas permeable and others - Market size and forecast 2022-2027 ($ million) Exhibit 44: Chart on Rigid gas permeable and others - Year-over-year growth 2022-2027 (%) Exhibit 45: Data Table on Rigid gas permeable and others - Year-over-year growth 2022-2027 (%)
6.6 Market opportunity by Type
Exhibit 46: Market opportunity by Type ($ million) Exhibit 47: Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by Distribution Channel
7.1 Market segments Exhibit 48: Chart on Distribution Channel - Market share 2022-2027 (%) Exhibit 49: Data Table on Distribution Channel - Market share 2022-2027 (%)
7.2 Comparison by Distribution Channel
Exhibit 50: Chart on Comparison by Distribution Channel Exhibit 51: Data Table on Comparison by Distribution Channel
7.3 Offline - Market size and forecast 2022-2027
Exhibit 52: Chart on Offline - Market size and forecast 2022-2027 ($ million) Exhibit 53: Data Table on Offline - Market size and forecast 2022-2027 ($ million) Exhibit 54: Chart on Offline - Year-over-year growth 2022-2027 (%) Exhibit 55: Data Table on Offline - Year-over-year growth 2022-2027 (%)
7.4 Online - Market size and forecast 2022-2027
Exhibit 56: Chart on Online - Market size and forecast 2022-2027 ($ million) Exhibit 57: Data Table on Online - Market size and forecast 2022-2027 ($ million) Exhibit 58: Chart on Online - Year-over-year growth 2022-2027 (%) Exhibit 59: Data Table on Online - Year-over-year growth 2022-2027 (%)
7.5 Market opportunity by Distribution Channel
Exhibit 60: Market opportunity by Distribution Channel ($ million) Exhibit 61: Data Table on Market opportunity by Distribution Channel ($ million)
8 Customer Landscape
8.1 Customer landscape overview
Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
9.1 Geographic segmentation
Exhibit 63: Chart on Market share by geography 2022-2027 (%) Exhibit 64: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 65: Chart on Geographic comparison Exhibit 66: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2022-2027
Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million) Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million) Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%) Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.4 Europe - Market size and forecast 2022-2027
Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ million) Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%) Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.5 APAC - Market size and forecast 2022-2027
Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million) Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%) Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)
9.6 South America - Market size and forecast 2022-2027
Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ million) Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ million) Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%) Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa - Market size and forecast 2022-2027
Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million) Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%) Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
9.8 US - Market size and forecast 2022-2027
Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ million) Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ million) Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%) Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)
9.9 China - Market size and forecast 2022-2027
Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million) Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million) Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%) Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)
9.10 UK - Market size and forecast 2022-2027
Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million) Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million) Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%) Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)
9.11 Germany - Market size and forecast 2022-2027
Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million) Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%) Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.12 France - Market size and forecast 2022-2027
Exhibit 103: Chart on France - Market size and forecast 2022-2027 ($ million) Exhibit 104: Data Table on France - Market size and forecast 2022-2027 ($ million) Exhibit 105: Chart on France - Year-over-year growth 2022-2027 (%) Exhibit 106: Data Table on France - Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 107: Market opportunity by geography ($ million) Exhibit 108: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
10.3 Impact of drivers and challenges
Exhibit 109: Impact of drivers and challenges in 2022 and 2027
11 Vendor Landscape
11.2 Vendor landscape Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption Exhibit 111: Overview on factors of disruption
11.4 Industry risks Exhibit 112: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered Exhibit 113: Vendors covered
12.2 Market positioning of vendors
Exhibit 114: Matrix on vendor position and classification
12.3 Alcon Inc. Exhibit 115: Alcon Inc. - Overview Exhibit 116: Alcon Inc. - Business segments Exhibit 117: Alcon Inc. - Key offerings Exhibit 118: Alcon Inc. - Segment focus
12.4 Allergan Exhibit 119: Allergan - Overview Exhibit 120: Allergan - Product / Service Exhibit 121: Allergan - Key offerings
12.5 Aqualens Exhibit 122: Aqualens - Overview Exhibit 123: Aqualens - Product / Service Exhibit 124: Aqualens - Key offerings
12.6 Avizor S. A. Exhibit 125: Avizor S. A. - Overview Exhibit 126: Avizor S. A. - Product / Service Exhibit 127: Avizor S. A. - Key offerings
12.7 Bausch Health Co. Inc.
Exhibit 128: Bausch Health Co. Inc. - Overview Exhibit 129: Bausch Health Co. Inc. - Business segments Exhibit 130: Bausch Health Co. Inc. - Key news Exhibit 131: Bausch Health Co. Inc. - Key offerings Exhibit 132: Bausch Health Co. Inc. - Segment focus
12.8 Carl Zeiss AG Exhibit 133: Carl Zeiss AG - Overview Exhibit 134: Carl Zeiss AG - Business segments Exhibit 135: Carl Zeiss AG - Key offerings Exhibit 136: Carl Zeiss AG - Segment focus
12.9 CLEAR CONSCIENCE LLC Exhibit 137: CLEAR CONSCIENCE LLC - Overview Exhibit 138: CLEAR CONSCIENCE LLC - Product / Service Exhibit 139: CLEAR CONSCIENCE LLC - Key offerings
12.10 Eye Care Solutions Exhibit 140: Eye Care Solutions - Overview Exhibit 141: Eye Care Solutions - Product / Service Exhibit 142: Eye Care Solutions - Key offerings
12.11 HOYA Corp. Exhibit 143: HOYA Corp. - Overview Exhibit 144: HOYA Corp. - Business segments Exhibit 145: HOYA Corp. - Key offerings Exhibit 146: HOYA Corp. - Segment focus
12.12 Johnson and Johnson Services Inc.
Exhibit 147: Johnson and Johnson Services Inc. - Overview Exhibit 148: Johnson and Johnson Services Inc. - Business segments Exhibit 149: Johnson and Johnson Services Inc. - Key news Exhibit 150: Johnson and Johnson Services Inc. - Key offerings Exhibit 151: Johnson and Johnson Services Inc. - Segment focus
12.13 Menicon Co. Ltd. Exhibit 152: Menicon Co. Ltd. - Overview Exhibit 153: Menicon Co. Ltd. - Product / Service Exhibit 154: Menicon Co. Ltd. - Key news Exhibit 155: Menicon Co. Ltd. - Key offerings
12.14 Novartis AG Exhibit 156: Novartis AG - Overview Exhibit 157: Novartis AG - Business segments Exhibit 158: Novartis AG - Key offerings Exhibit 159: Novartis AG - Segment focus
12.15 Oculus Pvt. Ltd. Exhibit 160: Oculus Pvt. Ltd. - Overview Exhibit 161: Oculus Pvt. Ltd. - Product / Service Exhibit 162: Oculus Pvt. Ltd. - Key offerings
12.16 Palmist Healthcare Pvt Ltd.
Exhibit 163: Palmist Healthcare Pvt Ltd. - Overview Exhibit 164: Palmist Healthcare Pvt Ltd. - Product / Service Exhibit 165: Palmist Healthcare Pvt Ltd. - Key offerings
12.17 The Cooper Companies Inc.
Exhibit 166: The Cooper Companies Inc. - Overview Exhibit 167: The Cooper Companies Inc. - Business segments Exhibit 168: The Cooper Companies Inc. - Key offerings Exhibit 169: The Cooper Companies Inc. - Segment focus
13 Appendix
13.2 Inclusions and exclusions checklist
Exhibit 170: Inclusions checklist Exhibit 171: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 172: Currency conversion rates for US$
13.4 Research methodology Exhibit 173: Research methodology Exhibit 174: Validation techniques employed for market sizing Exhibit 175: Information sources
13.5 List of abbreviations
Exhibit 176: List of abbreviations
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