Smart Contact Lenses Market Trends, Business Strategies and Opportunities with Key Players Analysis 2027
Growing demand for effective and innovative glaucoma management solutions and increasing instances of diabetes-related eye problems are driving the market demand.
VANCOUVER, BC, CANADA, Feb. 23, 2022 /EINPresswire.com/ — The global smart contact lens market is expected to reach USD 12.52 billion by 2027, according to a new report from Emergen Research. The smart contact lens market is expected to witness significant growth, driven by the growing demand for wearable medical devices for constant monitoring of patient health conditions. The technological development of smart contact lenses to lessen vision difficulties in men and the increasing rate of geriatric people are also propelling the growth of the market. Growing interest in smart medical gadgets among young people attracts them to smart contact lenses.
The current trend of using contact lenses instead of eyeglasses due to lifestyle changes and increased use of modern cosmetics among young people is also driving the smart contact lens market. Also, the rising rate of eye problems among the elderly population is propelling the market. Extreme competition among major players and high cost of smart contact lenses is hampering the growth of the market.
The latest market intelligence study on the smart contact lens market covers the performance of major vendors and new entrants for the forecast period, 2017-2027. Estimated value, profit, gross margin, purchasing power and consumption volume are an important part of the study which aims to give business owners, stakeholders and marketing personnel a competitive advantage over the others. It is important to note that the study discusses a lot about the application, classification and performance of the product in different regions. The industry benchmark report weighs in on the top performers along with the winning strategies that have given them a strong foothold in the smart contact lens market.
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The competitive landscape is broadly assessed alongside company profiles of major players engaged in the smart contact lenses market are Google LLC, Sensimed AG, Novartis International AG, Samsung Electronics Company Ltd, Rockwell Automation Inc., Sony Corporation, Hitachi Ltd., Alcon Laboratories Inc., Atmel Corporation, Mojo Vision Inc., among others.
The industry assessment report offers an overview of the technology trends in the smart contact lens industry for the forecast period, 2017-2027. Projected data on intangible aspects such as import and export status, supply chain management, distribution channel, consumption capacity and production capacity are explained through resources including tables , graphics and graphic images. Analyzing the strengths and weaknesses of key market players helps business owners understand which strategies they should avoid and embrace.
Smart corrective contact lenses will experience significant market growth over the forecasted period due to comfort and availability of fashionable colored lenses. Smart therapeutic contact lenses will also see steady growth with a CAGR of 11.3% in the forecast period.
The growing growth of 3D movies and games with the integration of virtual and augmented reality will enhance the smart contact lens market. On the other hand, functionality such as real-time reading of eye stress through these advanced technologies would help doctors provide better treatments.
The Continuous Glucose Monitoring Smart Contact Lens includes a wireless sensor and microchip to check for physical issues such as a diabetic patient’s tear glucose levels and glaucoma internal pressure. The implementation of these sensors creates a demand for the segment.
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Emergen Research has segmented the global smart contact lens market based on product, end-use, and region.
Type Outlook (Revenue, USD Billion; 2017-2027)
Way of life
Technology Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Continuous glucose monitoring
Intraocular pressure monitoring
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
America (United States) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia-Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (rest of LATAM)
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A qualitative approach to reviewing industry standards, regulations, and opportunities that major vendors can count on speaks volumes about the position of the smart contact lenses market in the coming years. The researchers behind the study bring the best of primary and secondary research techniques to derive market-specific estimates for recent investments, product sales, profit, and gross margin. These values based mainly on the total revenue earned by the product manufacturers are explained through various resources such as illustrations.
This survey provides answers to the following important questions:
What is the expected growth rate of the smart contact lenses market? What is the market size for the forecast period from 2017 to 2027?
What are the main drivers of change in the direction of the industry?
Who are the major vendors dominating the Smart Contact Lenses industry across different regions? What are their winning strategies to stay ahead of the competition?
What are the smart contact lens market trends that business owners can trust over the next few years?
What are the threats and challenges expected to limit the progress of the Smart Contact Lenses Industry across different countries?
What are the main opportunities for employers during the forecast period of 2027 to 2027?
Reasons to choose Emergen Research
Regional Demand Forecasts and Forecasts
Product price volatility
Analysis of technological updates
Location index analysis
Raw Material Sourcing Strategy
Product Composition Matrix
Management of suppliers
Supply Chain Optimization Analysis
Carbon footprint analysis
Mergers and Acquisitions
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