Top 3 Smart Contact Lenses Market Trends to Watch Post-COVID

Posted on Jan 14 2022 5:50 AM

"Smart Contact Lenses Market Size, Share & Industry Analysis, By Type (Continuous Intraocular Pressure Monitoring Lenses, Photochromic Lenses, and Others), By End User (Ophthalmology Clinics, Home Care, and Others), and Regional Forecast, 2019-2026"

The global smart contact lenses market size is anticipated to reach USD 1,603.4 million by 2026 on account of the increasing incidences of eye disorders and the need for a contact lens with upgraded quality and performance. Smart contact lenses are the most recent and greatest developments of contact lenses. They can recognize health conditions such as diabetes, glaucoma, and others. As per a recent report published by Fortune Business Insights™

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List of Significant Vendors Operating in this market include:

  • Sony
  • Innovega Inc.
  • Alcon Vision LLC
  • Samsung
  • Mojo Vision Inc.
  • Google
  • Sensimed AG
  • Other vendors

Market Dominated by North America followed by Europe on Account of Increasing Prevalence of Glaucoma

Based on geographical segmentation, North America earned the largest smart contact lenses market share with revenue of USD 58.9 million earned in 2018. This is attributable to the increasing prevalence of diabetes and glaucoma in the region. According to the Glaucoma Research Foundation, an estimate of 2 million Americans was diagnosed with glaucoma in the year 2017. Therefore, the increasing incidences of such cases and the rising awareness about smart contact lens will boost the regional market. This, coupled with adequate investments by players for the launch of new products will also help the region continue its dominance in the forecast period.

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Market Dominated by North America followed by Europe on Account of Increasing Prevalence of Glaucoma

Based on geographical segmentation, North America earned the largest smart contact lenses market share with revenue of USD 58.9 million earned in 2018. This is attributable to the increasing prevalence of diabetes and glaucoma in the region. According to the Glaucoma Research Foundation, an estimate of 2 million Americans was diagnosed with glaucoma in the year 2017. Therefore, the increasing incidences of such cases and the rising awareness about smart contact lens will boost the regional market. This, coupled with adequate investments by players for the launch of new products will also help the region continue its dominance in the forecast period.

Rising Prevalence of Diabetes will Propel Market Growth

The increasing prevalence of diabetes and glaucoma is a major factor in promoting the smart contact lenses market growth. Contact lenses are rapidly progressing in the field of optometry since the last decade and have gain momentum due to rapid advancements in this field. Smart contact lens is capable of detecting diseases such as diabetes and glaucoma and this is also boosting the overall market. Besides this, smart lenses offer other features such as automatic adjusting to light and dark environments, taking photographs, and are in high demand for patients with age-related Macular Degeneration (AMD) and other health-related issues.

However, the high cost of smart contact lenses may pose a major challenge to the growth of the market. This, coupled with the lack of awareness among people in developing nations may also hamper the overall market growth in the coming years.

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Some major points from Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Epidemiology of Diabetes, Glaucoma for Key Countries/Regions
    • Key Industry Developments such as Mergers, Acquisitions, and Partnerships
    • Key Industry Trends
    • Technological Advancements in Smart Contact Lenses
  • Global Smart Contact Lenses Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Continuous Intraocular Monitoring
      • Photochromic Lens
      • Others
    • Market Analysis, Insights and Forecast – By End User
      • Clinics
      • Home Care
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Rest of the World
  • North America Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis – By Type
      • Continuous Intraocular Monitoring
      • Photochronic Lens
      • Others
    • Market Analysis – By End User
      • Clinics
      • Home Care
      • Others
    • Market Analysis – By Country
      • U.S.
      • Canada
  • Europe Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis – By Type
      • Continuous Intraocular Monitoring
      • Photochronic Lens
      • Others
    • Market Analysis – By End User
      • Clinics
      • Home Care
      • Others
    • Market Analysis – By Country/Sub-region
      • U.K.
      • Germany
      • France
      • Spain
      • Italy
      • Scandinavia
      • Rest of Europe

Continued...

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