+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Smart Contact Lenses Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031

  • PDF Icon

    Report

  • 119 Pages
  • February 2023
  • Region: Global
  • Acute Market Reports
  • ID: 5750418
The smart contact lens market is estimated to secure an impressive CAGR of 9.5% during the forecast period. Smart contact lenses are emerging as one of the most promising healthcare solutions aiding diabetic patients to monitor their diabetes and fitness level. Smart contact lens is the lenses that incorporate miniaturized sensors and wireless chips for monitoring physiological parameters including intraocular pressure in glaucoma patients and glucose levels of a diabetic patients using their tears.

Over the last few years, smart devices have gained immense popularity across the globe due to the rising need for continuously monitoring health conditions at the individual level. The global smart contact lenses market is majorly driven by the growing prevalence of diabetes Smart contact lenses track, monitor, and analyze the tear fluid, providing a real-time and non-invasive diagnosis of glucose levels in a diabetic patient. Increasing diabetic complications including cataracts and eye disorders are expected to facilitate the growth of the smart contact lenses market worldwide. In addition, rising cases of glaucoma and expanding aging demographics with presbyopia (long-sightedness) are some other factors contributing to the market growth. Smart contact lens looks like the regular lens but comes with a sensor attached to them. The sensors present in the smart contact lens are helpful in recognizing eye-related problems and can also track the blood sugar level of patients through their correct vision and tears.

Smart contact lens technology has the potential of bringing about a revolution in the field of diabetes management as it allows people to manage their glucose levels at a personal level. It also helps in lowering the cost of managing chronic diseases by offering a more comprehensive and easier way of monitoring and diagnosing disease as compared to the prevalent conventional techniques. Equipped with sensors, smart contact lenses can provide noninvasive methods that continuously detect metabolites in the tears. This helps an individual to opt for consultation and take immediate action if the blood sugar levels are found elevated. The flexible and soft smart contact lenses can also be extended and modified to monitor other biomarkers including body temperature, blood pressure, or cholesterol level.

Technological advancements in smart contact lenses are expected to reduce vision problems in people as the wireless functioning of these lenses can maintain eye temperature, thereby ensuring eye safety. Furthermore, growing health awareness across people from all age groups coupled with the growth in digitization is anticipated to boost the smart contact lenses market during the forecast period. On the other hand, the high cost of smart contact lenses is expected to restrain the market growth in the initial years.

Key Players Identified for Smart Contact Lenses Market Include but are Not Limited to:

Alcon (Novartis AG), Google LLC, Innovega Inc., Samsung Electronics Co., Ltd., Sensimed AG, Sony Corporation, EP Global Communications, Inc., Liner Technologies, Johnson & Johnson, Vision and Mojo Vision, And Others.

Key Developments:

March 2022: Mojo Vision made a new Mojo Lens prototype which is the world’s tiniest and densest dynamic display, has low-latency connectivity and has an eye-controlled user interface.

March 2022: Johnson & Johnson created the first lens capable of delivering medication directly into the eye.

January 2022: Mojo Vision, a maker of an augmented reality contact lenses, has teamed with Adidas and a number of other fitness companies to bring their data-tracking eye lens to the consumer market.

April 2018: Johnson & Johnson Vision along with Transitions® Light Intelligent Technology™ announced ACUVUE OASYS® The world’s first contact lens with vision correction and a dynamic photochromic filter that helps to balance the amount of light entering the eye on a continual basis.

Historical & Forecast Period

This study report represents an analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2023 to 2031.

The current report comprises quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends, and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. A key data point that enables the estimation of Smart Contact Lenses market are as follows:
  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price, and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Smart Contact Lenses market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top-down and bottom-up approaches for validation of market estimation assures logical, systematic, and mathematical consistency of the quantitative data.

Market Segmentation

Application

  • Continuous Glucose Monitoring
  • Intraocular Pressure Monitoring

End User

  • Hospital & Clinics
  • Home Care Settings

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Smart Contact Lenses market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2031.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Smart Contact Lenses market?
  • Which is the largest regional market for Smart Contact Lenses market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Smart Contact Lenses market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Smart Contact Lenses market worldwide?


This product will be delivered within 2 business days.

Table of Contents

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted

2. Executive Summary
2.1. Market Snapshot: Global Smart Contact Lenses Market
2.2. Global Smart Contact Lenses Market, By Application, 2022 (US$ Million)
2.3. Global Smart Contact Lenses Market, By End User, 2022 (US$ Million)
2.4. Global Smart Contact Lenses Market, By Geography, 2022 (US$ Million)
2.5. Attractive Investment Proposition by Geography, 2022

3. Smart Contact Lenses Market: Competitive Analysis
3.1. Market Positioning of Key Smart Contact Lenses Market Vendors
3.2. Strategies Adopted by Smart Contact Lenses Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2022 Versus 2031

4. Smart Contact Lenses Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Smart Contact Lenses Market Value, 2021 - 2031, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis

5. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2022 Versus 2031
5.3. Market Segmentation
5.3.1. Continuous Glucose Monitoring
5.3.2. Intraocular Pressure Monitoring

6. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2022 Versus 2031
6.3. Market Segmentation
6.3.1. Hospital & Clinics
6.3.2. Home Care Settings

7. North America Smart Contact Lenses Market, 2021-2031, USD (Million)
7.1. Market Overview
7.2. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
7.3. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
7.4.Smart Contact Lenses Market: By Region, 2021-2031, USD (Million)
7.4.1.North America
7.4.1.1. U.S.
7.4.1.1.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
7.4.1.1.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
7.4.1.2. Canada
7.4.1.2.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
7.4.1.2.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
7.4.1.3. Rest of North America
7.4.1.3.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
7.4.1.3.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)

8. UK and European Union Smart Contact Lenses Market, 2021-2031, USD (Million)
8.1. Market Overview
8.2. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
8.3. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
8.4.Smart Contact Lenses Market: By Region, 2021-2031, USD (Million)
8.4.1.UK and European Union
8.4.1.1. UK
8.4.1.1.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
8.4.1.1.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
8.4.1.2. Germany
8.4.1.2.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
8.4.1.2.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
8.4.1.3. Spain
8.4.1.3.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
8.4.1.3.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
8.4.1.4. Italy
8.4.1.4.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
8.4.1.4.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
8.4.1.5. France
8.4.1.5.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
8.4.1.5.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
8.4.1.6. Rest of Europe
8.4.1.6.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
8.4.1.6.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)

9. Asia Pacific Smart Contact Lenses Market, 2021-2031, USD (Million)
9.1. Market Overview
9.2. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
9.3. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
9.4.Smart Contact Lenses Market: By Region, 2021-2031, USD (Million)
9.4.1.Asia Pacific
9.4.1.1. China
9.4.1.1.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
9.4.1.1.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
9.4.1.2. Japan
9.4.1.2.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
9.4.1.2.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
9.4.1.3. India
9.4.1.3.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
9.4.1.3.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
9.4.1.4. Australia
9.4.1.4.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
9.4.1.4.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
9.4.1.5. South Korea
9.4.1.5.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
9.4.1.5.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
9.4.1.6. Rest of Asia Pacific
9.4.1.6.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
9.4.1.6.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)

10. Latin America Smart Contact Lenses Market, 2021-2031, USD (Million)
10.1. Market Overview
10.2. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
10.3. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
10.4.Smart Contact Lenses Market: By Region, 2021-2031, USD (Million)
10.4.1.Latin America
10.4.1.1. Brazil
10.4.1.1.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
10.4.1.1.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
10.4.1.2. Mexico
10.4.1.2.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
10.4.1.2.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
10.4.1.3. Rest of Latin America
10.4.1.3.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
10.4.1.3.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)

11. Middle East and Africa Smart Contact Lenses Market, 2021-2031, USD (Million)
11.1. Market Overview
11.2. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
11.3. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
11.4.Smart Contact Lenses Market: By Region, 2021-2031, USD (Million)
11.4.1.Middle East and Africa
11.4.1.1. GCC
11.4.1.1.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
11.4.1.1.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
11.4.1.2. Africa
11.4.1.2.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
11.4.1.2.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)
11.4.1.3. Rest of Middle East and Africa
11.4.1.3.1. Smart Contact Lenses Market: By Application, 2021-2031, USD (Million)
11.4.1.3.1. Smart Contact Lenses Market: By End User, 2021-2031, USD (Million)

12. Company Profile
12.1. Alcon (Novartis AG)
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. Google LLC
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. Innovega Inc.
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. Samsung Electronics Co., Ltd.
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. Sensimed AG
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiatives
12.6. Sony Corporation
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Portfolio
12.6.4. Strategic Initiatives
12.7. EP Global Communications, Inc.
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Portfolio
12.7.4. Strategic Initiatives
12.8. Liner Technologies
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Portfolio
12.8.4. Strategic Initiatives
12.9. Johnson & Johnson
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Portfolio
12.9.4. Strategic Initiatives
12.10. Vision and Mojo Vision
12.10.1. Company Overview
12.10.2. Financial Performance
12.10.3. Product Portfolio
12.10.4. Strategic Initiatives
12.11. Others
12.11.1. Company Overview
12.11.2. Financial Performance
12.11.3. Product Portfolio
12.11.4. Strategic Initiatives

List of Figures
Figure 1 Global Smart Contact Lenses Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global Smart Contact Lenses Market: Quality Assurance
Figure 5 Global Smart Contact Lenses Market, By Application, 2022
Figure 6 Global Smart Contact Lenses Market, By End User, 2022
Figure 7 Global Smart Contact Lenses Market, By Geography, 2022
Figure 8 Market Geographical Opportunity Matrix - Global Smart Contact Lenses Market, 2022
Figure 9 Market Positioning of Key Smart Contact Lenses Market Players, 2022
Figure 10 Global Smart Contact Lenses Market - Tier Analysis - Percentage of Revenues by Tier Level, 2022 Versus 2031
Figure 11 Global Smart Contact Lenses Market, By Application, 2022 Vs 2031, %
Figure 12 Global Smart Contact Lenses Market, By End User, 2022 Vs 2031, %
Figure 13 U.S. Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 14 Canada Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 15 Rest of North America Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 16 UK Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 17 Germany Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 18 Spain Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 19 Italy Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 20 France Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 21 Rest of Europe Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 22 China Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 23 Japan Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 24 India Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 25 Australia Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 26 South Korea Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 27 Rest of Asia Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 28 Brazil Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 29 Mexico Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 30 Rest of Latin America Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 31 GCC Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 32 Africa Smart Contact Lenses Market (US$ Million), 2021 - 2031
Figure 33 Rest of Middle East and Africa Smart Contact Lenses Market (US$ Million), 2021 - 2031

List of Tables
Table 1 Global Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 2 Global Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 3 North America Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 4 North America Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 5 U.S. Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 6 U.S. Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 7 Canada Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 8 Canada Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 9 Rest of North America Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 10 Rest of North America Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 11 UK and European Union Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 12 UK and European Union Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 13 UK Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 14 UK Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 15 Germany Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 16 Germany Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 17 Spain Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 18 Spain Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 19 Italy Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 20 Italy Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 21 France Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 22 France Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 23 Rest of Europe Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 24 Rest of Europe Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 25 Asia Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 26 Asia Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 27 China Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 28 China Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 29 Japan Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 30 Japan Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 31 India Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 32 India Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 33 Australia Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 34 Australia Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 35 South Korea Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 36 South Korea Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 37 Latin America Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 38 Latin America Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 39 Brazil Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 40 Brazil Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 41 Mexico Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 42 Mexico Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 43 Rest of Latin America Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 44 Rest of Latin America Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 45 Middle East and Africa Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 46 Middle East and Africa Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 47 GCC Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 48 GCC Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 49 Africa Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 50 Africa Smart Contact Lenses Market By End User, 2021-2031, USD (Million)
Table 51 Rest of Middle East and Africa Smart Contact Lenses Market By Application, 2021-2031, USD (Million)
Table 52 Rest of Middle East and Africa Smart Contact Lenses Market By End User, 2021-2031, USD (Million)

Companies Mentioned

  • Alcon (Novartis AG)
  • Google LLC
  • Innovega Inc
  • Samsung Electronics Co Ltd
  • Sensimed AG
  • Sony Corporation
  • EP Global Communications Inc
  • Liner Technologies
  • Johnson & Johnson
  • Vision and Mojo Vision