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.
The leading players in the market include 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.
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Some Key Highlights from the Report
The corrective smart contact lenses will witness a significant market growth in the anticipated period owing to the comfortability and availability of fashionable color lenses. The therapeutic smart contact lenses will also experience steady growth with a CAGR of 11.3% in the forecasted timeframe.
The increasing growth of 3D movies and gaming with the integration of virtual and augmented reality will enhance the smart contact lens market. On the other side, the feature like realtime stress reading of eye due to these advanced technologies would help doctors deliver better treatments.
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.
COVID-19 Impact Analysis:
This report is the latest document encompassing the massive changes that took place in the Smart Contact Lens market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Smart Contact Lens market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment.
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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
The report objectives are:
To evaluate Smart Contact Lens status, future forecast, growth opportunity, key market, and key players.
To present the Global Smart Contact Lens development in the different regions of the world.
To strategically study and segment the key players and comprehensively analyze their development plan and strategies.
To define, describe, and forecast the market by product type, market, and key regions.
Key points discussed in the report for Global Smart Contact Lens Market:
Chapter 1: Introduction, market driving force product, Objectives of the Study, and Research Scope of the Smart Contact Lens market
Chapter 2: Exclusive Summary –vital information of the Smart Contact Lens Market.
Chapter 3: Market Dynamics- Drivers, Trends, and Challenges of the Smart Contact Lens Market
Chapter 4: Smart Contact Lens Market Factor Analysis Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Market segmentation by Type, End-User and Region 2016-2018
Chapter 6: Analysis of the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions.
Chapter 7 8: Appendix, Methodology and Data Source…Continued
Finally, Smart Contact Lens Market is a valuable source of guidance for individuals and companies.
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