Smart Contact Lens Market Share, Growth, Size, Trends, Regional Overview and Leading Company Analysis

To make Smart Contact Lens Market report of supreme quality, consistent efforts of enthusiastic, dynamic and skilled researchers and analysts have been utilized. This result into actionable ideas, better decision-making and better business strategies. It simplifies the flow of information for better user understanding. The most appropriate, unique, and creditable global market analysis report has been brought to valuable customers and clients depending upon their specific business needs.  Smart Contact Lens Market report offers advanced information and scenario about the HELATH industry which helps to stand apart in the competition in this fast paced business environment.Besides, the market share of major competitors on global level is also studied where key areas such as Europe, North America, Asia Pacific and South America are taken into account in the winning Smart Contact Lens Market analysis report.

Data Bridge Market Research analyzes that the global smart contact lens market is expected to reach a value of USD 678,147.91 thousand by 2030, at a CAGR of 12.6%. The micro-LED display contact lenses segment is expected to dominate the global smart contact lens market with the increasingly advanced technology and rising strategic initiatives by major market players.

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Market Definition

A smart contact lens with a built-in visual display is designed to magnify images for people with low vision. The patented lens, designed by a company called Mojo Vision, can project content from a smartphone.

The smart contact lens is a regular hard or soft contact lens surrounded by a liquid crystal display, a tiny controller ASIC (Application-Specific Integrated Circuit), a light sensor, an accelerometer and gyroscope, and a very thin solid-state lithium-ion battery.

Smart contact lenses are used for various applications, such as myopia, hypoxia, and other eye disorders.

Restraints

Increasing Side Effects Associated With Contact Lenses

Wearing contact lenses feel like an amazing upgrade to eyeglasses. People can see objects more clearly by using contact lenses. They can fit easily into the eye and allow people to perform numerous tasks that might be uncomfortable by wearing glasses, such as traveling and exercising, among others. However, if contact lenses are not used properly, there could be numerous side effects, even affecting the eye’s vision in the long run.

Below are the various types of risks and side effects of using smart contact lenses:

• Blockage of oxygen supply to the eyes: Contact lenses lie directly on the eye, cover the entire cornea, and the amount of oxygen reaching the eyes decreases. Passes of oxygen are required to keep the eye healthy
• Diminished corneal reflex: Contact lenses cause to reduce the corneal reflex in the eye. The corneal reflex is a protective mechanism of the eye
• Corneal abrasion: Contact lenses can scratch the cornea and which causes corneal abrasion if the contact lenses are not fitted properly or even when the eyes are too dry
• Red eye or conjunctivitis: If people wear contact lenses for long hours, there will be a high risk of conjunctivitis

These are various symptoms associated with seasonal eye allergies while wearing smart contact lenses. Also, people have itchy or burning allergies to contact lens solutions, which hamper the demand for the smart contact lenses market.

Recent Developments

• In July 2022, Raayon Nova/Smart Contact Lens presented its prototype device at AR conference at Columbia University. This will help the company to expand its business globally.
• In April 2018, a patent application revealed that Samsung was exploring the development of a contact lens that could project images directly into the users’ eye, take photographs and connect wirelessly to a smartphone. This has helped the company to increase its global presence of the company

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The global smart contact lens market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, business expansion, service facilities, partnership, strategic development, application dominance, and technology lifeline curve. The above data points provided are only related to the company’s focus on the Global smart contact lens market.

Some of the key market players in the global smart contact lens market are GlakoLens Biyomedikal Biyoteknoloji San. ve Tic. A.Ş, Sensimed AG, RaayonNova LLC, Azalea Vision, and SAMSUNG among others.

Smart Contact Lens Market Scope

By Design

• Micro-LED display contact lens
• Diagnostic sensor integrated contact lens
• Photodetector contact lenses
• Drug eluding contact lenses
• Electrochemical contact lens sensors
• Light diffractive contact lenses
• Fluorescence-based contact lenses
• Others

On the basis of design, the global smart contact lens market is segmented into fluorescence-based contact lenses, electrochemical contact lens sensors, light diffractive contact lenses, micro-LED display contact lenses, photodetector contact lenses, drug eluding contact lenses, diagnostic sensor integrated contact lenses, and others.

By Material

• Poly (2-Hydroxyethyl Methacrylate) (PHEMA)
• Polyvinyl Alcohol (PVA)
• Polyacrylamide (PA)
• Polyethylene Terephthalate (PET)
• Polydimethylsiloxane (PDMS)
• Other

On the basis of material, the global smart contact lens market is segmented into Poly (2-Hydroxethyl Methacrylate) (PHEMA), Polyvinyl Alcohol (PVA), Polyacrylamide (PA), Polyethylene Terephthalate (PET), Polydimethylsiloxane (PDMS), and others.

By Application

• Monitoring
• Therapeutics
• Other applications

On the basis of application, the global smart contact lens market is segmented into monitoring, therapeutics, and other application.

By Usablity

• Single use
• Extended use

On the basis of usability, the global smart contact lens market is segmented into single use and extended use.

By Technology

• Fluorescence-based sensing technology
• Holographic sensing technology
• Colorimetric based sensing technology
• Electrochemical-based technologies
• Other

On the basis of technology, the global smart contact lens market is segmented into fluorescence-based sensing technology, holographic sensing technology, colorimetric based sensing technology, electrochemical-based technologies, and others.

By Population Type

• Pediatric
• Adult
• Geriatric

On the basis of population type, the global smart contact lens market is segmented into pediatric, adults, and geriatric.

By End User

• Eye hospital
• Ophthalmology clinics
• Homecare setting
• Other

TOC:

1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY

1.2 MARKET DEFINITION

1.3 OVERVIEW OF THE GLOBAL SMART CONTACT LENS MARKET

1.4 LIMITATIONS

1.5 MARKETS COVERED

2 MARKET SEGMENTATION

2.1 MARKETS COVERED

2.2 GEOGRAPHICAL SCOPE

2.3 YEARS CONSIDERED FOR THE STUDY

2.4 CURRENCY AND PRICING

2.5 DBMR TRIPOD DATA VALIDATION MODEL

2.6 MULTIVARIATE MODELLING

2.7 DESIGN LIFELINE CURVE

2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS

2.9 DBMR MARKET POSITION GRID

2.1 MARKET APPLICATION COVERAGE GRID

2.11 SECONDARY SOURCES

2.12 ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

4.1 PORTER’S FIVE FORCES

4.2 PESTEL ANALYSIS

4.3 LIST OF TERMINATED/PAUSED PIPELINE PROJECTS

4.4 PATENT ANALYSIS

4.5 PIPELINE ANALYSIS FOR THE GLOBAL SMART CONTACT LENS MARKET

4.6 INDUSTRY INSIGHT

5 GLOBAL SMART CONTACT LENS MARKET: REGULATIONS

6 MARKET OVERVIEW

Continued…

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