Global Smart Contact Lenses Market Increasing at A Phenomenal Pace to Reach more than USD 11.66 Billion by 2028

14-Jun-2021 | Zion Market Research

Global Smart Contact Lenses Market is highly competitive as the key players are involved in the development of strategies such as partnerships. The presence of important players defines the competitive landscape of the market. The major market players have distribution channels and production facilities all over the world. New entrants have found it difficult to develop a foothold in the industry due to the existence of dominating incumbents. New and potential businesses, on the other hand, have been investing in R&D operations in order to compete in the business.

Some of the significantly players in the global smart contact lenses market are Innovega Inc, Novartis AG, Samsung Electronics Co., Ltd., Google Inc., Sensimed AG, Sony Corporation, Liner Technologies, EP Global Communications, Inc., Analog Devices, Knowles, InvenSense, NXP Semiconductor, Rockwell Automation, Banner Engineering, Atmel, Murata Manufacturing, Nanomix, Hitachi, TOWA, STMicroelectronics, and Texas Instruments.

According to analysts at Zion Market Research, the Global Smart Contact Lenses Market accounted for more than USD 5.25 Billion in 2020 and is expected to reach USD 11.66 Billion by 2028, growing at a CAGR of 10.6% from 2021 to 2028.

This review is based on a report by Zion Market Research, titled “Global Smart Contact Lenses Market By Material (Gas Permeable, Silicone Hydrogel, and Hybrid), By Type (Continuous Glucose Monitoring, Intraocular Pressure Monitoring and Others), By Distribution Channel (E-Ccommerce, Eye-Care Professionals, and retail): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028.”

Surge in the cases of Diabetic Complications Spur Market Growth

The growth in incidences of glaucoma in patients has significantly fuelled the growth of the global smart contact lenses market. Innovative glaucoma testing technology for efficient management facilitates non-invasive and real-time diagnosis of sugar levels in patients with diabetes further propels the market growth. The surge in the cases of diabetic complications in the people like blindness, eye disorders, cataract, and others contributes heavily toward the growth of the global smart contact lenses market.

The young generations are increasingly adopting contact lenses due to the changed lifestyle and awareness regarding trending cosmetic products. However, the youth is highly influenced by smart medical devices and thus boosting the market growth globally.

The increasing population with growing cases of presbyopia also projects the global smart contact lenses market to grow significantly. The growing geriatric population is one of the major reasons that bolster the growth of the global market. Moreover, the surging trend of wearable medical devices especially among the old population is further propelling the market growth.

The growing health awareness coupled with the proliferation of digitalization is likely to boost the growth of the global smart contact lenses market during the forecast period. The continuous reduction in the price of such medical devices due to the advancements in technology is also boosting the market growth.

Global Sustainable Footwear Market: Regional Analysis

North America holds the largest share in the global smart contact lenses market owing to the increasing cases of diabetes and the surging demand for the innovative eye care solution to overcome the health challenges. The growing adoption of wearable medical devices among all age groups especially in the older population contributes significantly to the growth of the segment. The on-going trends in the cosmetic sector are driving the growth of the region vigorously.

Europe is among the potential regions in the global market due to the rising expenditure in the research and development in smart medical devices. The widespread use of smart contact lenses in the countries further drives the regional market growth.

Asia Pacific is a growing region in the global smart contact lenses market due to the increasing prevalence of chronic diseases like diabetes in the region. Countries like China and India are expected to grow significantly due to the growing awareness and technological advancements in the sector.

Global Sustainable Footwear Market: Competitive Players

Some of the significantly players in the global smart contact lenses market are Innovega Inc, Novartis AG, Samsung Electronics Co., Ltd., Google Inc., Sensimed AG, Sony Corporation, Liner Technologies, EP Global Communications, Inc., Analog Devices, Knowles, InvenSense, NXP Semiconductor, Rockwell Automation, Banner Engineering, Atmel, Murata Manufacturing, Nanomix, Hitachi, TOWA, STMicroelectronics, and Texas Instruments.

Browse the full Global Smart Contact Lenses Market By Material (Gas Permeable, Silicone Hydrogel, and Hybrid), By Type (Continuous Glucose Monitoring, Intraocular Pressure Monitoring and Others), By Distribution Channel (E-Commerce, Eye-Care Professionals, and Retail): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/smart-contact-lenses-market

Global Sustainable Footwear Market is segmented as follows:

By Type

  • Continuous Glucose Monitoring
  • Intraocular Pressure Monitoring
  • Others

By Material

  • Gas Permeable
  • Silicone Hydrogel
  • Hybrid

By Distribution Channel

  • E-Commerce
  • Retail
  • Eye-Care Professionals

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
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