Smart Contact Lens Market 2022-2028

Description

List of Tables

Title:Global Smart Contact Lens Market Size, Share & Trends Analysis Report by Type (Extended Wear, Daily Wear Soft Lenses, Planned Replacement, Extended Wear Disposable, Rapid Gas Permeable (RGP), and Others), by Application (Continuous Glucose Monitoring, Intraocular Pressure Monitoring, Photochromic Lenses, and Others), and by End-User (Hospital and Clinics, Home Care Settings, and Others) Forecast Period (2022-2028).

The global smart contact lens market is anticipated to grow at a substantial CAGR of 25.5% during the forecast period. The rising R&D activities in the contact lenses market increased its adoption and utilization in the optometry field as these are advanced technology-based. For instance, in March 2022, the POSTECH research team in collaboration with Dr. Sangbaie Shin of PHI BIOMED Co. developed a smart contact lens-type wearable device to prevent diabetic retinopathy that will treat it in its early stages by irradiating 120 µW far-red/LED light to the retina.

The global smart contact lens is segmented based on type, application, and end-user. Based on type, the market is segmented into extended wear, daily wear soft lenses, planned replacement, extended-wear disposable, rapid gas permeable (RGP), and others. Based on application, the market is segmented into continuous glucose monitoring, intraocular pressure monitoring, and photochromic lenses. Furthermore, based on end-user, the market is sub-classified into the hospital and clinics, home care settings, and others. Among the type segment, daily wear soft lenses is expected to hold a prominent share in the market. Smart contact lenses offer improved comfort, enhanced durability, and reduce time for adjustment.

Geographically, the global smart contact lens market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Among these, the North American region is anticipated to hold a prominent share in the market owing to the increasing cases of diabetes, the prevalence of diabetes and glaucoma, and growing awareness among people about advanced technologies in the region. As per the data provided by the American Glaucoma Society and the US Department of Health & Human Services, it stated that glaucoma is the leading cause of irreversible blindness in the US. Approximately 3 million Americans are living with glaucoma and it is estimated to that number is expected to rise to 6.3 million by 2050.

The competitive landscape includes key strategies of leading players, recent developments, and key company analysis. The major players that contribute to the growth of the market include Alcon Vision LLC, Google Inc., Innovega Inc., Johnson & Johnson Services, Inc., Mojo Vision Inc., Novartis International AG, Sensimed AG, and many others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2020, Mojo Vision and Menicon partnered to develop smart contact lens products. The main focus is on manufacturing contact lens materials, cleaning, and fitting, among others. The Mencion Company with this agreement aims to expand Menicon's technology initiatives as both the companies are applying their technologies in gas permeable lens R&D.

Research Methodology

The market study of the global smart contact lens market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.

Whitepapers, research papers, and news blogs.

Company websites and their product catalog.

The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

Global Smart Contact Lens Market Research And Analysis By Type.
Global Smart Contact Lens Market Research and Analysis by Application.
Global Smart Contact Lens Market Research and Analysis by End-User.

The Report Covers:

Comprehensive research methodology of the global smart contact lens market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global smart contact lens market.
Insights about market determinants that are stimulating the global smart contact lens market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026804

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
3.2. Alcon Vision LLC
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. Google LLC
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Innovega Inc.
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. Moon Oral Care, LLC
- 3.5.1. Overview
- 3.5.2. Financial Analysis
- 3.5.3. SWOT Analysis
- 3.5.4. Recent Developments
3.6. Procter & Gamble (Crest and Oral B)
- 3.6.1. Overview
- 3.6.2. Financial Analysis
- 3.6.3. SWOT Analysis
- 3.6.4. Recent Developments
3.7. Key Strategy Analysis

4. Market Segmentation

4.1. Global Smart Contact Lenses Market by Type
- 4.1.1. Extended Wear
- 4.1.2. Daily Wear Soft Lenses
- 4.1.3. Planned Replacement
- 4.1.4. Extended Wear Disposable
- 4.1.5. Rapid Gas Permeable (RGP)
- 4.1.6. Others
4.2. Global Smart Contact Lenses Market by Application
- 4.2.1. Photochromic Lenses
- 4.2.2. Continuous Glucose Monitoring
- 4.2.3. Intraocular Pressure Monitoring
- 4.2.4. Others
4.3. Global Smart Contact Lenses Market by End-User
- 4.3.1. Hospital and Clinics
- 4.3.2. Home Care Settings
- 4.3.3. Others

5. Regional Analysis

5.1. North America
- 5.1.1. US
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Hitachi, Ltd.
6.2. InWith Corp.
6.3. Jilin Henghua Optoelectronics Co., Ltd.
6.4. Jobson Medical Information LLC
6.5. Johnson & Johnson Services, Inc.
6.6. Linear Technologies, Inc.
6.7. Mojo Vision Inc.
6.8. MUHWA INDUSTRIAL CO., LTD.
6.9. Murata Manufacturing Co., Ltd.
6.10. NXP Semiconductors
6.11. Panasonic Group
6.12. POG Prazisionsoptik Gera GmbH
6.13. Red Ventures, LLC
6.14. Samsung Electronics
6.15. Sigma Telecom
6.16. Sony Corp.
6.17. SUSS MicroOptics SA
6.18. Texas Instruments Inc.
6.19. Verily Life Sciences LLC
6.20. Xiamen UVC Sterilizing Electronics Technology Co., Ltd