The report entitled "Smart Contact Lenses Market" analyzes the global and regional market according to the application, the end user and location. A thorough report offers comprehensive historical and projected market size, along with a forecast analysis. The report focuses on study of market shares, overview of the product and competition analysis, key strategic considerations, commercialization and sand phases for each company, development opportunities, review of production and market share analyses for the key players analyzed within the smart contact lens market research.

Market Overview and Dynamics

The market for smart contact lenses is projected to expand at a rate of 28.4 percent over the 2022-2028 forecast timeperiod. A rise in the prevalence of glaucoma and a growing population of older people who suffer from presbyopia are driving the market's expansion.

The market for smart lenses is expected to witness a significant expansion over the next few years because of the increasing demand for more effective and cutting-edge glaucoma treatment technology that allows for a live and non-invasive way to determine the levels of sugar in diabetic patients. Additionally, the rising incidence of diabetes in the elderly and obese population, such as cataracts, eye problems and blindness,increasing numbers of people suffering from presbyopia (long-farsightedness) will continue to boost demand for smart contact lenses around the globe.

North America is expected to see a significant increase on the global smart contact lens market due to the significant investments in the development of contact lenses that are smart and the widespread use of contact lenses with smart technology in the populace. In Europe both public and private players are focused on investing in technological advancements for contact lenses. This is also expected to increase demands for intelligent contact lenses within the region. The rapid growth of the population in Asia Pacific is expected to increase the demand for smart contact lenses. Asia Pacific and the eating habits of the majority of people living in the region are likely to boost demands for smarter contact lenses in the region.

Segmental Analysis

*Based on applications the glucose monitoring segment is expected to account for the largest portion. The lenses are equipped with tiny sensors with wireless chips to detect physiological parameters such as the intraocular pressure of diabetics.

*Based on the number of end users hospital and clinic usage, they are expected to see significant growth.

*Based on the region, North America is expected to dominate the market of the global smart contact lens market due to the wide-ranging awareness of people of this new technology.



Competition Analysis

The global smart contact lenses market observes significant competition as a result of the presence of various established players in the market. New entrants and incumbent firms are investing in the global smart contact lenses market by examining and assessing developing models. Some of the prominent players have devised new business models that are currently on the market.

Patents of applications, product innovations, launches, and partnerships are the key strategies and activities adopted by the majority of market players.

*In March 2022, Mojo Vision, the Invisible Computing Company, unveiled the most advanced prototype of Mojo Lens, the world’s first smart contact lens. The Mojo Lens prototype is an innovation at the intersection of smartphones, AR/VR, smart wearables, and health tech.

*In May 2021, Innovega Inc. announced the filing of four patent applications for automated systems that assist ophthalmologists in fitting contact lenses, virtual reality, and augmented reality eyewear efficiently.

Some of the leading players involved in the smart contact lenses market include Sensimed AG, Google LLC, Samsung Electronics Co. Ltd., Sony Corp., Mojo Vision Inc., Alcon Vision LLC, Innovega Inc., InWith Corp., Johnson & Johnson Services Inc., Novartis AG, and among others.



RationalStat has segmented the global smart contact lenses market based on the application, end user, and region.



*By Application
**Continuous Intraocular Pressure Monitoring
**Glucose Monitoring
**Others (Cholesterol Detection, Sodium Detection, etc.)

*By End User
**Hospitals & Clinics
**Homecare
**Others (Ambulatory Surgery Centers)

*By Region
**North America
***US
***Canada

**Latin America
***Brazil
***Mexico
***Rest of Latin America

**Western Europe
***Germany
***UK
***France
***Spain
***Italy
***Benelux
***Nordic
***Rest of Western Europe

**Eastern Europe
***Russia
***Poland
***Rest of Eastern Europe

**Asia Pacific
***China
***Japan
***India
***South Korea
***Australia
***ASEAN (Indonesia, Vietnam, Malaysia, etc.)
***Rest of Asia Pacific

**Middle East & Africa
***GCC
***South Africa
***Turkey
***Rest of the Middle East & Africa


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