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The growth in demand for effective and innovative glaucoma management solutions and rising cases of diabetes-related eye problems are driving the market demand

VANCOUVER, BRITISH COLUMBIA, CANADA, September 12, 2022 /EINPresswire.com/ -- Smart Contact Lens market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Smart Contact Lens market through verified and validated data curated to offer accurate insights. The report also offers a region wise and country wise analysis of the Smart Contact Lens market and contains a detailed analysis of the key elements influencing the growth of the market in the region. The research study also contains historical, current, and forecast estimations for each sector, segment, sub-segment, and regions.

The global Smart Contact Lens Market is anticipated to reach USD 12.52 Billion by 2027, according to a new report by Emergen Research. The Smart Contact Lens market is forecasted to grow significantly, owing to the growing demand for wearable medical appliances for the constant monitoring health condition of patients. The technological development in smart contact lens to diminish vision difficulties in humans and the increasing rate of geriatric people also propels market growth. The rising interest in smart medical gadgets among youth attracts them towards smart contact lenses.

The current trend of using contact lens over spectacles due to lifestyle changes and increased use of modern cosmetics among youth is also driving the smart contact lens market. Besides, the increasing rate of eye-related problems among the aged population is propelling the market. The extreme competition among leading players and the high cost of smart contact lenses hinder market growth.

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Key Highlights from the Report:

The corrective smart contact lenses will witness a significant market growth in the anticipated period owing to the comfortability and availability of fashionable color lenses. The therapeutic smart contact lenses will also experience steady growth with a CAGR of 11.3% in the forecasted timeframe.

The increasing growth of 3D movies and gaming with the integration of virtual and augmented reality will enhance the smart contact lens market. On the other side, the feature like realtime stress reading of eye due to these advanced technologies would help doctors deliver better treatments.

The continuous glucose monitoring smart contact lens comprises a sensor and wireless microchip to check physical issues like glucose concentrations in the tears of a diabetic patient and inner pressure of glaucoma. Implementaion of these sensors are creating a demand for the segment.

The technological advancement of medical devices with the integration of IoT is boosting the market growth. Besides, smart contact lenses can check the blood sugar level for diabetics patients and monitor the patients' physical condition. These technological development of medical devices are boosting the market of smart contact lens in the healthcare industry.

Escalating demand for glaucoma management solutions and a high level of consumer awareness in North America is expected to fuel the market with a significant CAGR of 11.0% in the forecasted timeframe.

The report on the Global smart contact lens Market is an investigative study on the key features of the business landscape along with an analysis of the growth opportunities, challenges, threats, drivers and restraints, and limitations of the market. The report also offers insights into the segments, sub-segments, and regions exhibiting promising growth. The prominent players profiled in the report 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.

Emergen Research has segmented the global smart contact lens market based on type, technology, application, end-use industry, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)
Corrective
Therapeutic
Lifestyle

Technology Outlook (Revenue, USD Billion; 2017-2027)
Augmented Reality
Virtual Reality

Application Outlook (Revenue, USD Billion; 2017-2027)
Continuous Glucose Monitoring
Intraocular Pressure Monitoring
Others

End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
Healthcare
Automotive
Video Game
Defence
Others

Additionally, the report covers the analysis of the key players in the industry with a special focus on their global position, financial status, and their recent developments. Porter’s Five Forces Analysis and SWOT analysis have been covered by the report to provide relevant data on the competitive landscape.
Detailed Regional Analysis covers:
• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

To identify the key trends in the industry, click on the link below: https://www.emergenresearch.com/industry-report/smart-contact-lens-market

Key Benefits of Buying the Global smart contact lens Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global smart contact lens Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global smart contact lens Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global smart contact lens Market

Thank you for reading our report. To know more about the customization of the report, please get in touch with us, and our team will ensure the report is suited to your requirements.

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