Smart Contact Lenses Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Technology & Media Report Format : PDF Report Code: ZMR-5658 Status : Upcoming

Description

Global  Smart Contact Lenses Market: Overview

A smart contact lens aids the people with diabetes to measure the level of glucose in their tears. These lenses have miniaturized sensors integrated with wireless chips to monitor the physiological parameters in addition to intraocular pressure in the patients. Sensors are fitted between the two layers of the soft lenses with a small hole in the middle of the outer layer letting the tears flow into the sensors to measure the sugar level in blood and transmit the data to the wireless device for storage. In recent years, there is growth in the popularity of the smart lens owing to the growth in demand for monitoring the health condition continuously.

Global  Smart Contact Lenses Market: Growth Factors

The growth in incidences of glaucoma in patients has significantly fueled 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 Smart Contact Lenses Market: Segmentation

The global smart contact lenses market can be segmented into application, type, end-use, and region.

By type, the market can be segmented into planned replacement, extended-wear, daily-wear soft lenses, rapid gas permeable, and others. The daily wear soft lenses segment holds the largest share in the global smart contact lenses market as these are the prime choice of the customer across the globe. The surging trend of disposable and colored contact lenses further propels the growth of the segment.

By application, the market can be segmented into intraocular pressure and continuous glucose monitoring.

By end-user, the market can be segmented into hospital & clinics and home care settings.

Global Smart Contact Lenses 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 Smart Contact Lenses 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.

Global Smart Contact Lenses Market: Regional Segment Analysis

  • 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

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The growth in incidences of glaucoma in patients has significantly fueled the growth of the global smart contact lenses market. Innovative glaucoma testing technology for efficient management facilitates non-invasive & real-time diagnosis of sugar levels in patients with diabetes further propels the market.

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.

 

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.

 

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