Contact Lens Solutions Market to grow at a CAGR of 3.18% from 2021 to 2026, Driven by the increased preference for contact lenses over spectacles - Technavio

NEW YORK, March 30, 2023 /PRNewswire/ -- The global contact lens solutions market size is estimated to increase by USD 398.57 million from 2021 to 2026. The market's growth momentum will progress at a CAGR of 3.18% during the forecast period. The growing preference for contact lenses over spectacles is a major factor that will fuel the contact lens solution market growth during the forecast period. The benefits of using contact lenses over regular eyeglasses have led to a steady rise in the demand for contact lenses in the past few years. Contact lenses provide better all-around vision than glasses, allowing for clear peripheral vision. They eliminate glare and are known to be more comfortable to wear and carry than glasses. Contact lenses enhance aesthetic appeal, which has increased its preference. Furthermore, the development of progressive contact lenses has increased the growth potential of the market. Discover some insights on forecast market data before buying the full report - Request a sample report

Contact Lens Solutions Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on distribution channel (retail stores and online stores) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

• The market share growth of the retail stores segment will be significant for the contact lens solutions market growth during the forecast period. Some of the top players, such as The Cooper Companies, Menicon, Novartis, and Valeant, have been selling mainstream products such as contact lens solutions through retail stores. They create awareness about the products on online platforms. Retail stores provide the advantage of showcasing a broad range of contact lens solutions in a dedicated section of the store. They also allow individual buyers to compare the attributes of different brands.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global contact lens solutions market.

• APAC is estimated to account for 38% of the global contact lens solutions market growth during the forecast period. China is the key market for contact lens solutions in the region. The growth in the region can be attributed to factors such as the high consumption and high production rate of a broad range of contact lenses and solutions. 

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Contact lens solutions market ? Vendor Analysis
Vendor Landscape - The global contact lens solutions market is concentrated, with the presence of several global as well as regional vendors. A few prominent vendors that offer contact lens solutions in the market are Bausch Health Co Inc, CLEAR CONSCIENCE LLC, Eye Care Solutions, HOYA Corp., Johnson and Johnson, Menicon Co. Ltd., Novartis AG, Oculus Pvt. Ltd., The Cooper Companies Inc., Alcon Inc., Carl Zeiss AG, Dealskart Online Services Pvt. Ltd., GlobalBees Brands Pvt. Ltd, and Palmist Healthcare Pvt Ltd and others.

Vendor Offerings -

• Bausch Health Co Inc. - The company offers contact lens solution under the brand Clear Care Plus Solutions, which help in cleaning and disinfecting lenses.
• CLEAR CONSCIENCE LLC - The company offers BioTrue eye solution, which has pH balanced to match healthy tears and 20-hour moisture retention, under its subsidiary Bausch and Lomb India Ltd.
• HOYA Corp. - The company offers Clear Conscience Multi Purpose Contact Lens Solution, a sterile, isotonic solution for daily cleaning, rinsing, disinfecting, and removing protein.
• For details on the vendor and their offerings ? Request a sample report

Contact Lens Solutions Market ? Market Dynamics

Key Trends influencing the market growth - 

One of the major market trends that is expected to have a positive impact on the market growth during the forecast period is high brand loyalty. The sense of reliability and effectiveness increases brand loyalty among consumers. Established market players have a wide customer base, which makes it difficult for private labels and new entrants to find shelf space for their products in the market. Individual users do not prefer to experiment with new products or brands regarding vision care. They rely on one or two brands exclusively. When the products are not available in stores due to limited sales and demand, orders need to be placed through a catalog or on a company website. Consumers are more accustomed to ordering from branded product manufacturers. This has led to strong competition for private-label brands. Therefore, brand loyalty will impact the growth of the contact lens solutions market positively during the forecast period.

Major challenges hindering the market growth - 

One of the primary challenges impeding the contact lens solutions market growth is the low awareness among consumers. Low awareness and irregular eye check-ups are two factors affecting the market growth. People are generally unaware of the various types of eye disorders. For instance, macular degeneration causes loss of vision in the center of the visual field, further leading to retina damage. The debris accumulates between the retina and choroid, causing scarring of the retina. Contact lenses can be used to correct such refractive errors. With fewer people going for regular eye check-ups, eye conditions remain undiagnosed. This will hinder the growth of the contact lens solutions market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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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 2022 and 2026
• 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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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 Distribution Channel
• Exhibit 06: Executive Summary ? Chart on Incremental Growth
• Exhibit 07: Executive Summary ? Data Table on Incremental Growth
• Exhibit 08: Executive Summary ? Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers ? Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers ? Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants ? Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes ? Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry ? Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Distribution Channel

• 5.1 Market segments
• Exhibit 24: Chart on Distribution Channel - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Distribution Channel - Market share 2021-2026 (%)

• 5.2 Comparison by Distribution Channel 
• Exhibit 26: Chart on Comparison by Distribution Channel
• Exhibit 27: Data Table on Comparison by Distribution Channel

• 5.3 Retail stores - Market size and forecast 2021-2026 
• Exhibit 28: Chart on Retail stores - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Retail stores - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Retail stores - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Retail stores - Year-over-year growth 2021-2026 (%)

• 5.4 Online stores - Market size and forecast 2021-2026 
• Exhibit 32: Chart on Online stores - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Online stores - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Online stores - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Online stores - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Distribution Channel 
• Exhibit 36: Market opportunity by Distribution Channel ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026 
• Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026 
• Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 APAC - Market size and forecast 2021-2026 
• Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026 
• Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026 
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026 
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 UK - Market size and forecast 2021-2026 
• Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.11 France - Market size and forecast 2021-2026 
• Exhibit 74: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.12 Germany - Market size and forecast 2021-2026 
• Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 Alcon Inc.
• Exhibit 89: Alcon Inc. - Overview
• Exhibit 90: Alcon Inc. - Business segments
• Exhibit 91: Alcon Inc. - Key offerings
• Exhibit 92: Alcon Inc. - Segment focus

• 10.4 Bausch Health Co Inc
• Exhibit 93: Bausch Health Co Inc - Overview
• Exhibit 94: Bausch Health Co Inc - Business segments
• Exhibit 95: Bausch Health Co Inc - Key news
• Exhibit 96: Bausch Health Co Inc - Key offerings
• Exhibit 97: Bausch Health Co Inc - Segment focus

• 10.5 CLEAR CONSCIENCE LLC
• Exhibit 98: CLEAR CONSCIENCE LLC - Overview
• Exhibit 99: CLEAR CONSCIENCE LLC - Product / Service
• Exhibit 100: CLEAR CONSCIENCE LLC - Key offerings

• 10.6 Eye Care Solutions
• Exhibit 101: Eye Care Solutions - Overview
• Exhibit 102: Eye Care Solutions - Product / Service
• Exhibit 103: Eye Care Solutions - Key offerings

• 10.7 HOYA Corp.
• Exhibit 104: HOYA Corp. - Overview
• Exhibit 105: HOYA Corp. - Business segments
• Exhibit 106: HOYA Corp. - Key offerings
• Exhibit 107: HOYA Corp. - Segment focus

• 10.8 Johnson and Johnson
• Exhibit 108: Johnson and Johnson - Overview
• Exhibit 109: Johnson and Johnson - Business segments
• Exhibit 110: Johnson and Johnson - Key news
• Exhibit 111: Johnson and Johnson - Key offerings
• Exhibit 112: Johnson and Johnson - Segment focus

• 10.9 Menicon Co. Ltd.
• Exhibit 113: Menicon Co. Ltd. - Overview
• Exhibit 114: Menicon Co. Ltd. - Product / Service
• Exhibit 115: Menicon Co. Ltd. - Key news
• Exhibit 116: Menicon Co. Ltd. - Key offerings

• 10.10 Novartis AG
• Exhibit 117: Novartis AG - Overview
• Exhibit 118: Novartis AG - Business segments
• Exhibit 119: Novartis AG - Key offerings
• Exhibit 120: Novartis AG - Segment focus

• 10.11 Oculus Pvt. Ltd.
• Exhibit 121: Oculus Pvt. Ltd. - Overview
• Exhibit 122: Oculus Pvt. Ltd. - Key offerings

• 10.12 The Cooper Companies Inc. 
• Exhibit 123: The Cooper Companies Inc. - Overview
• Exhibit 124: The Cooper Companies Inc. - Business segments
• Exhibit 125: The Cooper Companies Inc. - Key offerings
• Exhibit 126: The Cooper Companies Inc. - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 127: Inclusions checklist
• Exhibit 128: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 129: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 130: Research methodology
• Exhibit 131: Validation techniques employed for market sizing
• Exhibit 132: Information sources

• 11.5 List of abbreviations 
• Exhibit 133: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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