The global Smart Contact Lens Market is anticipated to reach USD 12.52 Billion by 2027, according to a new report by Emergen Research. The Smart Contact Lens market is forecasted to grow significantly, owing to the growing demand for wearable medical appliances for the constant monitoring health condition of patients. The technological development in smart contact lens to diminish vision difficulties in humans and the increasing rate of geriatric people also propels market growth. The rising interest in smart medical gadgets among youth attracts them towards smart contact lenses.
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Key Market Competitors
The global Smart Contact Lens industry is widely fragmented due to the presence of numerous competitors across several regional and local segments of the market. These players are said to dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies operating in this market are in high competition with one another in terms of technological capabilities, product development and innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
Google LLC, Sensimed AG, Novartis International AG, Samsung Electronics Company Ltd, Rockwell Automation Inc., Sony Corporation, Hitachi Ltd., Alcon Laboratories Inc., Atmel Corporation, Mojo Vision Inc., among others.
Key Highlights From The Report
- The continuous glucose monitoring smart contact lens comprises a sensor and wireless microchip to check physical issues like glucose concentrations in the tears of a diabetic patient and inner pressure of glaucoma. Implementaion of these sensors are creating a demand for the segment.
- The technological advancement of medical devices with the integration of IoT is boosting the market growth. Besides, smart contact lenses can check the blood sugar level for diabetics patients and monitor the patients’ physical condition. These technological development of medical devices are boosting the market of smart contact lens in the healthcare industry.
- Europe is following North America closely due to the widespread use of contact lenses and rising investments in research for smart contact lens. In the Asia Pacific region, countries like China and India are projected to indicate exponential expansion in the market due to the growing chronic disease of diabetes.
Market Segmentation:
Emergen Research has segmented the global smart contact lens market based on type, technology, application, end-use industry, and region:
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Corrective
- Therapeutic
- Lifestyle
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Augmented Reality
- Virtual Reality
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Continuous Glucose Monitoring
- Intraocular Pressure Monitoring
- Others
- End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
- Healthcare
- Automotive
- Video Game
- Defence
- Others
Regions Covered in This Report:
- North America(U.S., Mexico, and Canada)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(U.K., Germany, France, and Rest of Europe)
- Latin America(Brazil and Rest of Latin America)
- Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
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Key Factors influencing market remuneration:
- The global Smart Contact Lens market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
- The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
- Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentation are depicted in this report.
- The application landscape of the global Smart Contact Lens market can be categorized into For Human, For Animals, and Others.
- The study further examines the industry share and product demand of each application, coupled with the predicted growth patterns of the various application segments.
- Other vital factors, such as market concentration ratio and raw material processing rate, have also been covered under the latest study.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Smart Contact Lenses Market Segmentation & Impact Analysis
4.1. Smart Contact Lenses Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Growing demand for effective glaucoma management solutions
4.2.2.2. The rising cases of diabetes-related eye problems
4.2.2.3. Increasing advanced technology like virtual and augmented reality
4.2.3. Market restraints analysis
4.2.3.1. High cost product
4.2.3.2. Extreme competition among leading players
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
READ MORE…!
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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