Market Overview:
The global smart contact lenses market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for smart contact lenses in medical and military applications, and the rising awareness about the benefits of using smart contact lenses. The global smart contact lenses market can be segmented on the basis of type into disposable type, frequent replacement type, and others. The disposable type is expected to hold a major share of the global market during the forecast period owing to its high adoption rates in medical applications. On the other hand, frequent replacement type is expected to grow at a higher CAGR due its growing demand from military applications. On the basis of application, medical field held a dominant share of over 60% in 2017 and is projected to maintain its dominance throughoutthe forecast period. This can be attributedto th egrowing demand forsmartcontact lensesto correct vision problemsand ocular diseases such as glaucomaand diabetic retinopathy . However , there are also emerging opportunities forsmartcontact lenssin otherapplication segments such as social entertainment and others .
Product Definition:
A Smart Contact Lens is a lens that has been enhanced with technology to allow it to connect to the internet and other devices. The importance of Smart Contact Lenses is that they can provide many benefits for the user, such as improved vision, augmented reality features, and even medical information tracking.
Disposable Type:
Disposable type is also known as smart contact lenses or electronic lens. These are made of thin, flexible and transparent plastic and can perform several tasks including recording video, taking pictures as well as sending the information to the smartphone via Bluetooth. The major advantage of these lenses is that they can be easily changed without having to remove your eye from its socket.
The global disposable type market was valued at USD 2,17 billion in 2015.
Frequent Replacement Type:
Frequent replacement type is used for smart contact lenses that can be changed more frequently than daily. The frequency of change depends on the level of comfort and hygiene needed by the user. Frequent replacement type is usually done when a user experiences problems such as eye irritation or sensitivity, redness, or dryness in eyes due to lens usage.
The frequent replacement part is made up of different materials like silicone hydrogel.
Application Insights:
The others application segment held the largest share of over 50.0% in 2017. The growing adoption of contact lenses for daily use in various fields such as social entertainment, military, and medical is expected to drive the global smart contact lens market growth over the forecast period. In addition, frequent replacement lenses are preferred for long-term wearings due to their cost-effectiveness and high patient satisfaction rates as compared to prescription glasses or goggles.
Medical application accounted for a significant share in 2017 owing to its wide applications including ophthalmic surgery, drug delivery systems & implants, corneal surgery & disorders treatment among others. Moreover, increasing research activities pertaining to advanced implantable smart contact lens devices that can restore vision after cataract removal procedures is expected fuel market growth during the forecast period.
Owing largely to rising geriatric population base across developing countries such as China India Japan Brazil etc.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing R&D activities, high disposable income of consumers, and availability of advanced healthcare facilities in countries such as U.S., Canada, and Mexico. In addition, rising adoption of technologically advanced medical devices by end-users is also expected to drive growth over the next eight years.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to factors such as growing population with associated rise in number of patients suffering from eye diseases & disorders; increase in per capita income leading towards higher spending on healthcare; improvement or establishment of new medical infrastructure for better treatment options; and awareness campaigns regarding smart contact lenses being conducted by various organizations including Google Inc.; Facebook Inc.
Growth Factors:
- Increasing demand for contact lenses owing to the rise in prevalence of eye disorders and vision problems.
- Growing awareness about the benefits of using smart contact lenses, which include enhanced vision, convenience, and safety.
- Proliferation of innovative technologies that are making smart contact lenses more affordable and easier to use.
- Rising demand from emerging markets as consumers become increasingly aware of the benefits offered by these devices.
- Growing focus on research and development activities aimed at developing new applications for smart contact lenses
Scope Of The Report
Report Attributes
Report Details
Report Title
Smart Contact Lenses Market Research Report
By Type
Disposable Type, Frequent Replacement Type,
By Application
Medical Field, Military Field, Social Entertainment, Others,
By Companies
Sensimed AG, Google, Samsung, Sony, PEGL
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Smart Contact Lenses Market Report Segments:
The global Smart Contact Lenses market is segmented on the basis of:
Types
Disposable Type, Frequent Replacement Type,
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medical Field, Military Field, Social Entertainment, Others,
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sensimed AG
- Google
- Samsung
- Sony
- PEGL
Highlights of The Smart Contact Lenses Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Disposable Type
- Frequent Replacement Type
- By Application:
- Medical Field
- Military Field
- Social Entertainment
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Smart Contact Lenses Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Smart contact lenses are a type of eyeglasses that use electronic sensors to track the wearer's eye movements. This information is then used to control the lens' power and shape, allowing for a more comfortable and customized experience.
Some of the major companies in the smart contact lenses market are Sensimed AG, Google, Samsung, Sony, PEGL.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Smart Contact Lenses Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Smart Contact Lenses Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Smart Contact Lenses Market - Supply Chain
4.5. Global Smart Contact Lenses Market Forecast
4.5.1. Smart Contact Lenses Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Smart Contact Lenses Market Size (000 Units) and Y-o-Y Growth
4.5.3. Smart Contact Lenses Market Absolute $ Opportunity
5. Global Smart Contact Lenses Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Smart Contact Lenses Market Size and Volume Forecast by Type
5.3.1. Disposable Type
5.3.2. Frequent Replacement Type
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Smart Contact Lenses Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Smart Contact Lenses Market Size and Volume Forecast by Application
6.3.1. Medical Field
6.3.2. Military Field
6.3.3. Social Entertainment
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Smart Contact Lenses Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Smart Contact Lenses Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Smart Contact Lenses Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Smart Contact Lenses Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Smart Contact Lenses Demand Share Forecast, 2019-2026
9. North America Smart Contact Lenses Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Smart Contact Lenses Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Smart Contact Lenses Market Size and Volume Forecast by Application
9.4.1. Medical Field
9.4.2. Military Field
9.4.3. Social Entertainment
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Smart Contact Lenses Market Size and Volume Forecast by Type
9.7.1. Disposable Type
9.7.2. Frequent Replacement Type
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Smart Contact Lenses Demand Share Forecast, 2019-2026
10. Latin America Smart Contact Lenses Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Smart Contact Lenses Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Smart Contact Lenses Market Size and Volume Forecast by Application
10.4.1. Medical Field
10.4.2. Military Field
10.4.3. Social Entertainment
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Smart Contact Lenses Market Size and Volume Forecast by Type
10.7.1. Disposable Type
10.7.2. Frequent Replacement Type
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Smart Contact Lenses Demand Share Forecast, 2019-2026
11. Europe Smart Contact Lenses Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Smart Contact Lenses Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Smart Contact Lenses Market Size and Volume Forecast by Application
11.4.1. Medical Field
11.4.2. Military Field
11.4.3. Social Entertainment
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Smart Contact Lenses Market Size and Volume Forecast by Type
11.7.1. Disposable Type
11.7.2. Frequent Replacement Type
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Smart Contact Lenses Demand Share, 2019-2026
12. Asia Pacific Smart Contact Lenses Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Smart Contact Lenses Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Smart Contact Lenses Market Size and Volume Forecast by Application
12.4.1. Medical Field
12.4.2. Military Field
12.4.3. Social Entertainment
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Smart Contact Lenses Market Size and Volume Forecast by Type
12.7.1. Disposable Type
12.7.2. Frequent Replacement Type
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Smart Contact Lenses Demand Share, 2019-2026
13. Middle East & Africa Smart Contact Lenses Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Smart Contact Lenses Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Smart Contact Lenses Market Size and Volume Forecast by Application
13.4.1. Medical Field
13.4.2. Military Field
13.4.3. Social Entertainment
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Smart Contact Lenses Market Size and Volume Forecast by Type
13.7.1. Disposable Type
13.7.2. Frequent Replacement Type
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Smart Contact Lenses Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Smart Contact Lenses Market: Market Share Analysis
14.2. Smart Contact Lenses Distributors and Customers
14.3. Smart Contact Lenses Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Sensimed AG
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Google
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Samsung
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Sony
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. PEGL
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
