Contact Lens Solutions Market Report

Patients look for expert advice and cutting-edge treatment while buying contact lenses all around the globe. Consumers in developed nations tend to apply insurance plans and are prepared to pay more for eye care products. Consumers show brand loyalty as they are less likely to switch to rival items due to the accessibility and availability of their preferred brand's products. The high risk of infection associated with wearing contact lenses that are not correctly fitted to the patient encourages consumers to choose well-known brands on the market. The majority of people buy their contact lenses directly from opticians or eye care specialists. Thus, lens care promotes the sale of contact lens solutions. Furthermore, according to the World Health Organization (WHO), at least 2.2 Bn people worldwide have a near or distance visual impairment. Nearly half of these cases, or at least 1 Bn, involved visual impairment that either might have been avoided or was not addressed. The usage of contact lenses in visual impairment situations will boost market expansion even further.

The contact lenses were cleaned and disinfected using multipurpose contact lens solutions. These are used to rinse, store, clean, and refresh the contact lenses. This is the most popular care system among soft contact lens wearers. Due to their simplicity of use and recent product launches, multifunctional contact lens solutions are becoming increasingly popular. Furthermore, the increased adoption of these lens solutions is owing to better convenience and decreased lysozyme deposition and corneal fluorescein staining, hence enhancing patients' wearing experience and helping in the maintaining of optimal lens performance. Moreover, the rising prevalence of myopia, hypermetropia, and other eye-related problems anticipated a rise in the use of contact lenses and multipurpose cleaning solutions.

The market for contact lens solutions is growing significantly as increasing numbers of people choose contact lenses to spectacles. A lack of awareness about contact lens solutions and usage, however, is anticipated to restrain market expansion.

Biotrue Hydration Plus Multi-Purpose Solution, a new product under the BioTrue Multi-Purpose Solution brand, was released in the United States in June 2022.

April 2022 - PENTAXTM Optical Lenses, which have been part of HOYA® Vision Care's global brand portfolio since 2008, are now accessible to U.S. vision merchants.

March 2022- Menicon Co., Ltd, a Japanese-based specialised designer and producer of contact lenses and lens care products, announced an investment of US$ 135 Mn in its first production unit in Malaysia in the Kulim Hi-Tech Park in Kedah to create daily disposable contact lenses.

North America is expected to experience significant market growth throughout the forecast period. The presence of key market manufacturers, well-established healthcare infrastructure and high contact lens use in the region are attributed to the region's growth. The National Eye Institute estimates that there will be around 5,000,055 Americans with low vision by 2030, and 8,913,397 by 2050. Additionally, contact lens care products (CLC) entirely based on hydrogen peroxide (HP) solutions have exceptional antibacterial property against a range of pathogenic microbes, according to a study published in ARVO journals in June 2021. Given the increased adoption of contact lens solutions, such studies will fuel market expansion in North America. As a result of the aforementioned factors, the market for contact lens solutions in this region is likely to grow throughout the forecast period.