Global Smart Contact Lens Market Research Report and Forecast to 2027 is an investigative report providing an extensive study of the global Smart contact lens market with regards to market size, market share, current and emerging trends, and latest technological developments. The report also sheds light on the competitive landscape of the Smart contact lens market on the global and regional scale, along with a thorough forecast estimation to 2027.
The new report is updated with the impact of the COVID-19 pandemic on the Smart contact lens market. It analyzes the impact of the pandemic with regards to economic landscape and government regulations in each region. It also studies the supply chain disruptions and economic volatility induced by the pandemic and offers a current and future assessment of the impact of the pandemic on the global and regional Smart contact lens market.
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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Based on the competitive landscape:
Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
- 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.
- Escalating demand for glaucoma management solutions and a high level of consumer awareness in North America is expected to fuel the market with a significant CAGR of 11.0% in the forecasted timeframe.
- 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.
Key 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
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Smart contact lens 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
Detailed Regional Analysis covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Benefits of Buying the Global Smart contact lens Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8-year forecast and assessment of the Global Smart contact lens Market
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Smart contact lens Market
- Extensive profiling of the key stakeholders of the business sphere
- Detailed analysis of the factors influencing the growth of the Global Smart contact lens Market
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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 analyse 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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