Contact lens is slender lenses wore to get aesthetic look as well as for enhancing vision. Contact lenses jettison use of specs. Smart contact lenses are solutions for diabetic patients to keep an eye on fitness level and diabetes. They have built-in sensors to identify intraocular pressure and glucose levels. Young generation is magnetized toward the espousal of contact lenses owing to their altering lifestyle and increasing mindfulness about trending cosmetic products, thereby driving global smart contact lenses market growth.
Growing requirement for smart wearable devices globally leading to intensifying requirement for smart contact lenses is a major aspect projected to fuel global growth during the forecast period. Further, enhanced features and quality of end products is another aspect likely to fuel the growth of the global smart contact lenses market. Apart from these, the growing requirement for incessant health checking of patient at personal level will also drive the market growth during the years to come.
The global smart contact lenses market can be segregated by application, type, end-user, and geography. The market, by type, is bifurcated into daily wear soft lenses, rapid gas permeable (RGP), planned replacement, and extended-wear. The global smart contact lenses market, by application, is categorized into intraocular pressure monitoring and continuous glucose monitoring. The market, by end-user, is classified into home care settings and hospital & clinics.
The global smart contact lenses market is projected to be governed by North America in terms of revenue during the forecast period, due to increasing customer alertness about new technologies & health, accessibility of broad array of products, and existence of international brands across numerous nations in this region. Likewise, Europe is anticipated to display considerable expansion in the global smart contact lenses market due to intensifying disposable income, technological improvement, and accessibility of innovative product across numerous nations in this region. Asia Pacific will also witness modest expansion in terms of revenue during the years to come due to the growing recognition of extended-wear disposable contact lenses and colored contact lenses among people in the region.
Few of the key players competing within the global smart contact lenses market consists of Google LLC, Alcon (Novartis AG), Samsung Electronics Co., Ltd., Innovega Inc., Sony Corporation, EP Global Communications, Inc., Liner Technologies, and Sensimed AG, among others. To cite, in January 2020, the Mojo Vision Lens was launched that projects image, video, and text data overlays onto your vision area.