Home / Technology & Media / Smart Contact Lenses Market Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Smart Contact Lenses Market Growth, Future Prospects & Competitive Analysis, 2018 - 2026

Overview:

Smart contact lenses are emerging as one of the most promising healthcare solutions aiding diabetic patients to monitor their diabetes and fitness level. Smart contact lens are the lenses which incorporates miniaturized sensors and wireless chips for monitoring physiological parameters including intraocular pressure in glaucoma patients and glucose levels of a diabetic patient using their tears. Over the last few years, smart devices have gained immense popularity across the globe due to the rising need for continuously monitoring health condition at individual level. The global smart contact lenses market is majorly driven by the growing prevalence of diabetes Smart contact lenses track, monitor, and analyze the tear fluid, providing real-time and non-invasive diagnosis of glucose levels in a diabetic patient. Increasing diabetic complications including cataract and eye disorders are expected to facilitate the growth of the smart contact lenses market worldwide. In addition, rising cases of glaucoma and expanding ageing demographics with presbyopia (long-sightedness) are some other factors contributing to the market growth. Smart contact lens looks like a regular lens but comes with a sensor attached to it. The sensors present in the smart contact lens are helpful in recognizing eye-related problems and can also track the blood sugar level of patient through their correct vision and tears.

Smart contact lens technology has the potential of bringing about a revolution in the field of diabetes management as it allows people to manage their glucose levels at personal level. It also helps in lowering the cost of managing chronic diseases by offering more comprehensive and easier way of monitoring and diagnosing disease as compared to the prevalent conventional techniques. Equipped with sensors, smart contact lenses can provide noninvasive methods that continuously detect metabolites in the tears. This helps an individual to opt for consultation and take immediate action if the blood sugar levels are found elevated. The flexible and soft smart contact lenses can also be extended and modified to monitor other biomarkers including body temperature, blood pressure, or cholesterol level.

Technological advancements in smart contact lenses are expected to reduce vision problems in people as the wireless functioning of these lenses can maintain the eye temperature, thereby ensuring eye safety. Furthermore, growing health awareness across people from all age groups coupled with the growth in digitization is anticipated to boost the smart contact lenses market during the forecast period (2018 – 2026). On the other hand, high cost of smart contact lenses is expected to restrain the market growth in the initial years.

The global smart contact lenses market is segmented on the following bases:

  • Application
    • Continuous Glucose Monitoring
    • Intraocular Pressure Monitoring
  • End User
    • Hospital & Clinics
    • Home Care Settings
  • Geography
    • North America
      • U.S.
      • Rest of North America
      • Europe
        • U.K.
        • Germany
        • France
        • Rest of Europe
      • Asia-Pacific
        • Japan
        • China
        • India
        • Rest of Asia Pacific
      • Rest of World
        • Middle East & Africa
        • Latin America

Key Players Identified for Smart Contact Lenses Market Include but are Not Limited to:

Alcon (Novartis AG), Google LLC, Innovega Inc., Samsung Electronics Co., Ltd., Sensimed AG, Sony Corporation and EP Global Communications, Inc. among others

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