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™ titled, “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 market value was USD 115.0 million in 2018 and will exhibit 38.9% CAGR in between 2019 and 2026.
Highlights of the Report:
- In-depth analysis of various insights, namely, Smart Contact Lenses Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Smart Contact Lenses Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Smart Contact Lenses Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Sony
- Innovega Inc.
- Alcon Vision LLC
- Samsung
- Mojo Vision Inc.
- Sensimed AG
- Other vendors
Market Drivers
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.
What is the Objective of the Report?
The report is based on qualitative and quantitative analysis of the market and focuses on major factors boosting, repelling, challenging, and creating opportunities for the market during the forecast period. The report also offers interesting insights into the market and major industry developments related to the market. List of key players operating in the market and their strategies are mentioned in the report. The report also discusses the table of segmentation in detail and lists the names of the leading segment with its attributed factors. It also throws light on the current smart contact lenses market trends.
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Detailed 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 Smart Contact Lenses 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
- S.
- Canada
- Europe Smart Contact Lenses 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
- K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
- Asia Pacific Smart Contact Lenses 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
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Rest of the World Smart Contact Lenses 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
- Competitive Analysis
- Key Industry Developments
- Global Market Share Analysis (2018)
- Competition Dashboard
- Comparative Analysis – Major Players
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, Strategies, Financials (based on availability))
- Sensimed AG
- Samsung
- Alcon Vision LLC
- Innovega Inc.
- Sony
- Other Players
Continued…
