Smart
Contact Lenses Market accounted for US$ 159.09
million in 2020 and is estimated to be US$ 916.17 million by 2030 and is
anticipated to register a CAGR of 10.40%. Aesthetics and cosmetics are the most
motivating factors for people that want to avoid wearing glasses or to vary the
looks or color of their eyes. Others wear contact lenses for functional or
optical reasons. In comparison with spectacles, contact lenses typically
provide better sight, and don't collect moisture (from rain, snow,
condensation, etc.) or perspiration. This will make them preferable for sports
and other outdoor activities. Contact wearers also can wear sunglasses,
goggles, or other eyewear of their choice without having to suit them with
prescription lenses or worry about compatibility with glasses. Additionally,
there are conditions like keratoconus and aniseikonia that are typically
corrected better with contact lenses than with glasses.
The report “Global
Smart Contact Lenses Market, By Type (Daily-Wear Soft Lenses, Extended- Wear
Lenses, Rigid Gas- Permeable (RGP) Lenses, and Extended- Wear Disposable
Lenses), By Product Type (Disposable Type and Frequent Replacement Type), By
Application (Intraocular Pressure Monitoring and Continuous Glucose
Monitoring), By End-User Type (Clinics, Home Care Settings, and Hospitals), and
By Region (North America, Europe, Asia Pacific, Latin America, and Middle East
& Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
·
In August
2019, Samsung Electronics Co. Ltd. patented smart contact lenses that lets
having controlling over phone by blinking.
·
On 26th of
July 2021, INMO announced its latest innovation on the crowd funding platform
Indiegogo. INMO Air is a pair of wireless lightweight AR smart glasses that
delivers a completely hands-free connection between technology and real life.
Analyst View:
Smart Contact Lenses can control the myopia which
is the propelling factor for the growth of global market. Furthermore, during
the physical and sports activities the lenses are better for vision instead of
eyeglasses which is expected to drive the target market growth over the
forecast period. Smart contact lenses improve the vision by eliminating the
spectacles which is the another fueling factor for the growth of target market.
In addition, the smart contact lenses are worn for the aesthetic use which is
the major boosting factor for the growth of global market.
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Key Market Insights from the report:
The Global Smart Contact Lenses Market accounted
for US$ 159.09 million in 2020 and is estimated to be US$ 916.17 million by 2030
and is anticipated to register a CAGR of 10.40%. The global smart contact
lenses market report segments the market on the basis of type, product type,
application, end-user type, and region.
·
Based on type,
the Global Smart Contact Lenses Market is segmented into the Daily-Wear Soft
Lenses, Extended- Wear Lenses, Rigid Gas- Permeable (RGP) Lenses, and Extended-
Wear Disposable Lenses.
·
Based on
product type, the Global Smart Contact Lenses Market is segmented into the
Disposable Type and Frequent Replacement Type.
·
Based on
application, the Global Smart Contact Lenses Market is segmented into
Intraocular Pressure Monitoring and Continuous Glucose Monitoring.
·
Based on
end-user, the Global Smart Contact Lenses Market is segmented into Clinics,
Home Care Settings, and Hospitals.
·
By region, the
Global Smart Contact Lenses Market is segmented into North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global
smart contact lenses market owing to rising demand for smart contact lenses.
Competitive Landscape:
The key players in Global Smart Contact Lenses
Market are Sensimed AG, Google Inc., Alcon laboratories Inc., Samsung
Electronics Co. Ltd., Innovega Inc., Novartis AG, Bausch & Lomb Inc., Sony
Electronics Inc, Sensimed SA and Johnson & Johnson Surgical Vision Inc.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
