The global smart contact lenses market is expected to grow at a CAGR of around 24.8% over the forecast period. The market growth is attributed to the growing strategic alliances among the major players for the expansion of their product offerings. Currently, the product portfolio of smart contact lens is limited and major market players such as Google, Sony, and Samsung are working for the development of this advanced technology. Smart contact lenses can be used as an interface between the human body and an electronic device for wearable healthcare applications. Built on a biocompatible polymer, the smart contact lens contains ultrathin, flexible electrical circuits, and a microcontroller chip. This combination delivers real-time electrochemical bio-sensing, on-demand controlled drug delivery, wireless power management, and data communication. The device holds great potential for the treatment of diabetes-related diseases. Hence the rise in prevalence of diabetes and glaucoma is driving the market growth.
Market Segmentation
The global smart contact lenses market has been analyzed on the basis of application, end user, and region. Based on application, the market is segmented into continuous intraocular pressure monitoring, glucose monitoring, and others. Among these, glucose monitoring is projected to hold a prominent share in the market. Further, on the basis of end-user, the market is segmented into hospitals & clinics, homecare, and others. Hospital segment is projected to hold a prominent share in the market. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to exhibit a remarkable growth during the forecast period.
Market Structure and Competition Landscape
The global smart contact lenses market is characterized by the presence of significant number of players. Some of the prominent players operating in the 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. To maintain their market position, the key players operating in the smart contact lenses market are focusing on research and development. Some of the key developments in the market are:
? 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.
Global Smart Contact Lenses Market Analysis and Forecast 2019-2028
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.1.1. Global Population Overview and Forecast
6.1.2. Healthcare Expenditure by Key Countries
6.1.3. Per Capita Healthcare Spending by Key Countries
6.1.4. Per Capita Income by Key Countries
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players? expenditures, economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter?s Five Forces Analysis
7. Government Laws and Industry Regulations
8. Global and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. Global Smart Contact Lenses Market: Key Investment Analysis
9.1. By Medical Device Companies
9.2. By Sensors and Components Providers
9.3. By Region
9.4. By Application
9.5. By End User
9.6. M&A Activities
Robust assessment of major investments made by various industry players in the areas ranging from the application, key end users etc.
10. Global Smart Contact Lenses Market: Patent Analysis
10.1. By Key Industry Players
10.2. By Region
11. Regional Penetration of Smart Contact Lenses
11.1. North America
11.2. Latin America
11.3. Western Europe
11.4. Eastern Europe
11.5. Asia Pacific
11.6. Middle East & Africa
12. Contract Manufacturing v/s In-house Manufacturing
12.1. Manufacturing Cost Analysis
12.2. Profit Margin Analysis
13. Pricing Analysis
13.1. By Region
13.1.1. North America
13.1.2. Western Europe
13.1.3. Eastern Europe
13.1.4. Asia Pacific
13.1.5. Latin America
13.1.6. Middle East & Africa
14. Parent Market Overview
14.1. Global Semiconductors Market by Value (US$ Million) and Volume (Million Units)
14.2. Global Medical Devices Market by Value (US$ Million) and Volume (Million Units)
15. Segmental Analysis
15.1. Global Smart Contact Lenses Market by Application
15.1.1. Segment Overview
15.1.1.1. Continuous Intraocular Pressure Monitoring
15.1.1.2. Glucose Monitoring Lenses
15.1.1.3. Others (Cholesterol Detection, Sodium Detection, etc.)
15.2. Global Smart Contact Lenses Market by End User
15.2.1. Segment Overview
15.2.1.1.1. Hospitals & Clinics
15.2.1.1.2. Homecare
15.2.1.1.3. Others (Ambulatory Surgery Centers)
15.3. Global Smart Contact Lenses Market by Region
15.3.1. North America
15.3.2. Latin America
15.3.3. Western Europe
15.3.4. Eastern Europe
15.3.5. Asia Pacific
15.3.6. Middle East & Africa
16. Regional Analysis
16.1. North America Smart Contact Lenses Market Analysis and Forecast 2019-2028
16.1.1. Regional Market Overview and Key Takeaways
16.1.2. North America Smart Contact Lenses Market by Application
16.1.3. North America Smart Contact Lenses Market by End User
16.1.4. North America Smart Contact Lenses Market by Country
16.1.4.1. US
16.1.4.2. Canada
16.2. Latin America Smart Contact Lenses Market Analysis and Forecast 2019-2028
16.2.1. Regional Market Overview and Key Takeaways
16.2.2. Latin America Smart Contact Lenses Market by Application
16.2.3. Latin America Smart Contact Lenses Market by End User
16.2.4. Latin America Smart Contact Lenses Market by Country
16.2.4.1. Brazil
16.2.4.2. Mexico
16.2.4.3. Rest of Latin America
16.3. Western Europe Smart Contact Lenses Market Analysis and Forecast 2019-2028
16.3.1. Regional Market Overview and Key Takeaways
16.3.2. Western Europe Smart Contact Lenses Market by Application
16.3.3. Western Europe Smart Contact Lenses Market by End User
16.3.4. Western Europe Smart Contact Lenses Market by Country
16.3.4.1. Germany
16.3.4.2. UK
16.3.4.3. France
16.3.4.4. Spain
16.3.4.5. Italy
16.3.4.6. Benelux
16.3.4.7. Nordic
16.3.4.8. Rest of Western Europe
16.4. Eastern Europe Smart Contact Lenses Market Analysis and Forecast 2019-2028
16.4.1. Regional Market Overview and Key Takeaways
16.4.2. Eastern Europe Smart Contact Lenses Market by Application
16.4.3. Eastern Europe Smart Contact Lenses Market by End User
16.4.4. Eastern Europe Smart Contact Lenses Market by Country
16.4.4.1. Russia
16.4.4.2. Poland
16.4.4.3. Rest of Eastern Europe
16.5. Asia Pacific Smart Contact Lenses Market Analysis and Forecast 2019-2028
16.5.1. Regional Market Overview and Key Takeaways
16.5.2. Asia Pacific Smart Contact Lenses Market by Application
16.5.3. Asia Pacific Smart Contact Lenses Market by End User
16.5.4. Asia Pacific Smart Contact Lenses Market by Country
16.5.4.1. China
16.5.4.2. Japan
16.5.4.3. India
16.5.4.4. South Korea
16.5.4.5. Australia
16.5.4.6. ASEAN
16.5.4.7. Rest of Asia-Pacific
16.6. Middle East & Africa Smart Contact Lenses Market Analysis and Forecast 2019-2028
16.6.1. Regional Market Overview and Key Takeaways
16.6.2. Middle East & Africa Smart Contact Lenses Market by Application
16.6.3. Middle East & Africa Smart Contact Lenses Market by End User
16.6.4. Middle East & Africa Smart Contact Lenses Market by Country
16.6.4.1. GCC
16.6.4.2. South Africa
16.6.4.3. Turkey
16.6.4.4. Rest of the Middle East & Africa
17. Competitive Landscape
17.1. Competition Dashboard
17.1.1. Regional & Global Market Share Analysis
17.1.2. Market Structure by Geography
17.2. Competitive Benchmarking
17.3. Key Strategy Analysis
17.4. Company Profiles
17.4.1. Sensimed AG
17.4.1.1. Company Overview
17.4.1.2. Product/Service Offerings
17.4.1.3. Key Financials
17.4.1.4. Recent Developments
17.4.2. Google LLC
17.4.2.1. Company Overview
17.4.2.2. Product/Service Offerings
17.4.2.3. Financials
17.4.2.4. Recent Developments
17.4.3. Samsung Electronics Co. Ltd.
17.4.3.1. Company Overview
17.4.3.2. Product/Service Offerings
17.4.3.3. Financials
17.4.3.4. Recent Developments
17.4.4. Sony Corp.
17.4.4.1. Company Overview
17.4.4.2. Product/Service Offerings
17.4.4.3. Financials
17.4.4.4. Recent Developments
17.4.5. Mojo Vision Inc.
17.4.5.1. Company Overview
17.4.5.2. Product/Service Offerings
17.4.5.3. Financials
17.4.5.4. Recent Developments
17.4.6. Alcon Vision LLC
17.4.6.1. Company Overview
17.4.6.2. Product/Service Offerings
17.4.6.3. Financials
17.4.6.4. Recent Developments
17.4.7. Innovega Inc.
17.4.7.1. Company Overview
17.4.7.2. Product/Service Offerings
17.4.7.3. Financials
17.4.7.4. Recent Developments
17.4.8. InWith Corp.
17.4.8.1. Company Overview
17.4.8.2. Product/Service Offerings
17.4.8.3. Financials
17.4.8.4. Recent Developments
17.4.9. Johnson & Johnson Services, Inc.
17.4.9.1. Company Overview
17.4.9.2. Product/Service Offerings
17.4.9.3. Financials
17.4.9.4. Recent Developments
17.4.10. Novartis AG
17.4.10.1. Company Overview
17.4.10.2. Product/Service Offerings
17.4.10.3. Financials
17.4.10.4. Recent Developments
This list of companies is not exhaustive. A comprehensive list of smart contact lenses brands/manufacturers will be provided along with geographical reach, employee count, revenue, product capacities, and their capabilities
18. Disclaimer
List of Figures
Figure 01: Global Smart Contact Lenses Market Volume (?000 units), 2019-2021
Figure 02: Global Smart Contact Lenses Market Volume (?000 units) & Y-o-Y Growth (%) Analysis, 2022?2028
Figure 03: Smart Contact Lenses, Pricing Analysis per unit (US$), in 2022
Figure 04: Smart Contact Lenses, Pricing Forecast per unit (US$), in 2028
Figure 05: Global Smart Contact Lenses Market Value Analysis (US$ Mn), 2019-2021
Figure 06: Global Smart Contact Lenses Market Size (US$ Mn) & Y-o-Y Growth (%) Analysis, 2022?2028
Figure 07: Global Smart Contact Lenses Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 08: Global Smart Contact Lenses Market Y-o-Y Analysis (%) by Application, 2022-2028
Figure 09: Global Smart Contact Lenses Market Size and Market Share Analysis (%) by End-Use, 2022 & 2028
Figure 10: Global Smart Contact Lenses Market Y-o-Y Analysis (%) by End-Use, 2022-2028
Figure 11: Global Smart Contact Lenses Market Size and Market Share Analysis (%) by Region, 2022 & 2028
Figure 12: Global Smart Contact Lenses Market Y-o-Y Growth (%) by Region, 2022?2028
Figure 13: North America Smart Contact Lenses Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 14: North America Smart Contact Lenses Market Size and Market Share Analysis (%) by End-Use, 2022 & 2028
Figure 15: North America Smart Contact Lenses Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 16: Latin America Smart Contact Lenses Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 17: Latin America Smart Contact Lenses Market Size and Market Share Analysis (%) by End-Use, 2022 & 2028
Figure 18: Latin America Smart Contact Lenses Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 19: Western Europe Smart Contact Lenses Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 20: Western Europe Smart Contact Lenses Market Size and Market Share Analysis (%) by End-Use, 2022 & 2028
Figure 21: Western Europe Smart Contact Lenses Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 22: Eastern Europe Smart Contact Lenses Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 23: Eastern Europe Smart Contact Lenses Market Size and Market Share Analysis (%) by End-Use, 2022 & 2028
Figure 24: Eastern Europe Smart Contact Lenses Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 25: Asia Pacific Smart Contact Lenses Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 26: Asia Pacific Smart Contact Lenses Market Size and Market Share Analysis (%) by End-Use, 2022 & 2028
Figure 27: Asia Pacific Smart Contact Lenses Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 28: Middle East & Africa Smart Contact Lenses Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 29: Middle East & Africa Smart Contact Lenses Market Size and Market Share Analysis (%) by End-Use, 2022 & 2028
Figure 30: Middle East & Africa Smart Contact Lenses Market Size and Market Share Analysis (%) by Country, 2022 & 2028
List of Tables
Table 1: Global Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 2: Global Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Core Application
Table 3: Global Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End-Use
Table 4: Global Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by End-Use
Table 5: Global Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Region
Table 6: Global Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Region
Table 7: North America Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 8: North America Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 9: North America Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End-Use
Table 10: North America Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by End-Use
Table 11: North America Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 12: North America Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 13: Latin America Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 14: Latin America Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 15: Latin America Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End-Use
Table 16: Latin America Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by End-Use
Table 17: Latin America Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 18: Latin America Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 19: Western Europe Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 20: Western Europe Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 21: Western Europe Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End-Use
Table 22: Western Europe Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by End-Use
Table 23: Western Europe Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 24: Western Europe Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 25: Eastern Europe Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Network Infrastructure
Table 26: Eastern Europe Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 27: Eastern Europe Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 28: Eastern Europe Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End-Use
Table 29: Eastern Europe Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by End-Use
Table 30: Eastern Europe Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 31: Eastern Europe Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 32: Asia Pacific Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 33: Asia Pacific Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 34: Asia Pacific Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End-Use
Table 35: Asia Pacific Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by End-Use
Table 36: Asia Pacific Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 37: Asia Pacific Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
Table 38: Middle East & Africa Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 39: Middle East & Africa Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Application
Table 40: Middle East & Africa Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End-Use
Table 41: Middle East & Africa Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by End-Use
Table 42: Middle East & Africa Smart Contact Lenses Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 43: Middle East & Africa Smart Contact Lenses Market Volume (?000 units) Analysis and Forecast 2019-2028, by Country
The global smart contact lenses market is expected to grow at a CAGR of around 24.8% over the forecast period. The market growth is attributed to the growing strategic alliances among the major players for the expansion of their product offerings. Currently, the product portfolio of smart contact lens is limited and major market players such as Google, Sony, and Samsung are working for the development of this advanced technology. Smart contact lenses can be used as an interface between the human body and an electronic device for wearable healthcare applications. Built on a biocompatible polymer, the smart contact lens contains ultrathin, flexible electrical circuits, and a microcontroller chip. This combination delivers real-time electrochemical bio-sensing, on-demand controlled drug delivery, wireless power management, and data communication. The device holds great potential for the treatment of diabetes-related diseases. Hence the rise in prevalence of diabetes and glaucoma is driving the market growth.
Market Segmentation
The global smart contact lenses market has been analyzed on the basis of application, end user, and region. Based on application, the market is segmented into continuous intraocular pressure monitoring, glucose monitoring, and others. Among these, glucose monitoring is projected to hold a prominent share in the market. Further, on the basis of end-user, the market is segmented into hospitals & clinics, homecare, and others. Hospital segment is projected to hold a prominent share in the market. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is estimated to exhibit a remarkable growth during the forecast period.
Market Structure and Competition Landscape
The global smart contact lenses market is characterized by the presence of significant number of players. Some of the prominent players operating in the 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. To maintain their market position, the key players operating in the smart contact lenses market are focusing on research and development. Some of the key developments in the market are:
? 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.
