SAN FRANCISCO, March 21, 2022 /PRNewswire/ — Global Industry Analysts, Inc. (GIA), a leading market research firm, today released a new market research report titled “Contact Lens Solutions- Global Market Trajectories and Analysis”.The report offers new perspectives on the opportunities and challenges in the post-COVID-19 market that has undergone significant transformation.
Fact Sheet Version: 17; Published: February 2022 Executive Engagement: 3648 Companies: 55 – Participants covered include Alcon Laboratories, Inc.; Allergan (an AbbVie company); Bausch & Lomb; CLB Vision; Cooper Vision, Inc.; Fresh Health; Johnson & Johnson Vision Care; Menicon Co., Ltd. and Others. Coverage: All Major Regions and Key Segments Market Segments: Segment (Multipurpose, Hydrogen Peroxide Based) ; Distribution Channel (Retail, Eye Care Professional, Online) Geography: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; United Kingdom; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Free Project Preview – This is an ongoing global initiative.Preview our research program before you make a purchasing decision.We offer free access to qualified executives driving strategy, business development, sales and marketing, and product management roles at featured companies.The preview provides insider insights into business trends; competing brands; profiles of domain experts; and market data templates, and more.You can also build your own custom reports using our MarketGlass™ platform, which provides thousands of bytes of data without purchasing our reports.Preview the registration form
Global Contact Lens Solutions Market to Reach USD 3 Billion by 2026 The number of optical diseases worldwide is steadily increasing, creating strong growth prospects for the contact lenses and contact lens solutions used to sterilize these lenses.Other factors significantly contributing to the growth of the contact lenses and contact lens solutions market are increasing geriatric population and rising disposable income of people.The increasing burden of eye-related diseases such as farsightedness and nearsightedness has also led to an increase in the adoption of contact lenses, thereby increasing the demand for cleaning solutions.While the demand for lens care solutions is expected to be affected by the ongoing shift towards daily disposable lenses, the development of new solutions is expected to sustain the market momentum.Global market penetration is expected to increase in the future, mainly due to increased R&D efforts and new product innovations, which will continue to expand the potential wearer base of contact lenses.Frictionless multi-purpose solutions are now being fast-tracked through the aisles, further simplifying the contact lens maintenance process.
Amid the COVID-19 crisis, the global contact lens solutions market was estimated at USD 2.6 billion in 2022 and is expected to reach a revised size of USD 3.0 billion by 2026, growing at a CAGR of 3.2% during the analysis period.Multipurpose is one of the segments analyzed in the report and is expected to grow at a CAGR of 2.9% to reach $2.2 billion by the end of the analysis period.Following a thorough analysis of the business impact of the pandemic and the economic crisis it caused, growth in the hydrogen peroxide-based segment was re-adjusted to a revised CAGR of 3.8% over the next seven-year period.The current trend in the solutions market is towards Multi-Purpose Solutions (MPS), more recently frictionless MPS, rather than traditional multi-product solutions.Hydrogen peroxide solutions are increasingly used for their advantages, mainly for reusable lenses.The U.S. market is estimated at $916.4 million in 2022, while China is expected to reach $278.7 million by 2026 The U.S. market for contact lens solutions is estimated at $916.4 million by 2022, China is the second largest economy in the world, and the market is expected to reach $278.7 million by 2026 The size will reach $278.7 million, growing at a CAGR of 4.2% during the analysis period.Other notable geographic markets include Japan and Canada, which are expected to grow by 2.4% and 2.7%, respectively, during the analysis period.In Europe, Germany is expected to grow at a CAGR of around 2.6%.The US is the largest market in terms of wearers.The healthcare industry in the region is also mature, which contributes to the growth of the contact lens market.In the United States, the number of people with low vision is projected to increase to 5 million and 8 million by 2030 and 2050.Driven by demographic trends and increasing consumer purchasing power, Asia has become a lucrative market for contact lenses and lens care products.people.Adoption is steadily increasing due to the affordability of the product, increasing awareness and the expansion of key players manufacturing the solution.Key factors behind the strong Asian market performance include aggressive promotional strategies by multinational companies to drive adoption in relatively less penetrated regions, increased sophistication of eye care providers, and positive consumer acceptance.
contact lens business
Hydrogen peroxide-based solutions in Spotlight are considered a better contact lens solution than multi-purpose solutions for a number of reasons.Hydrogen peroxide-based multipurpose solutions make up two types of contact lens solutions that perform nearly identically in removing build-up and debris and disinfecting lenses, but the former can penetrate deeper for better Cleans microbial biofilms.Another important advantage of hydrogen peroxide-based solutions is that no preservatives are added.Preservatives are not suitable for people with sensitive eyes and other allergies.However, even the multipurpose solution type has many advantages, the most important of which is ease of use.A single solution is required for many purposes, including cleaning, rinsing, disinfecting and storing contacts.Multipurpose solutions are also relatively inexpensive.
For example, Alcon’s Clear Care® and CooperVision’s Refine One Step™ do not contain any allergens or preservatives.These solutions break down proteins and remove debris from the lenses for thorough disinfection.Hydrogen peroxide-based products are especially useful for those who tend to build up more debris on their lenses.The chemical can also help fight certain eye infections, such as acanthamoeba keratitis infection, which in rare cases can lead to blindness.However, hydrogen peroxide is a chemical that can cause a burning and stinging sensation when the eyes come in contact with it.Therefore, it is necessary to neutralize the solution.So in each bottle of hydrogen peroxide-based solution, an upright shell is fitted with a platinum-coated disc that reacts with the chemical and breaks it down into a non-irritating, sterile and safe saline solution .When a chemical reaction occurs, air bubbles are created in the shell.Also, if the eyes come into direct contact with chemicals, the eyes can be washed with sterile saline, artificial tears, or plain water.Additionally, exposure to the chemical causes only mild pain and does not cause any lasting damage to vision.more
MarketGlass™ Platform Our MarketGlass™ Platform is a free full-stack knowledge hub that can be custom configured for the intelligent needs of today’s busy business executives!This influencer-driven interactive research platform is at the heart of our main research activities and draws on the unique perspectives of engaging executives around the world.Features include – enterprise-wide peer-to-peer collaboration; previews of research programs relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; custom report generation; monitoring market trends; competing brands; using our main and secondary content create and publish blogs and podcasts; track domain events worldwide; and more.The client company will have full internal access to the project data stack.Currently used by more than 67,000 domain experts worldwide.
Post time: Mar-31-2022
