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Smart Contact Lens Market Size Worth USD 12.52 Billion by 2027, Market Trends – Increasing advanced technology implementation like virtual and augmented reality

Smart Contact Lens Market Size Worth USD 12.52 Billion by 2027, Market Trends – Increasing advanced technology implementation like virtual and augmented reality

April 06
22:07 2021
The Global Smart Contact Lens Market size was valued at USD 5.71 Billion in 2019 and is anticipated to reach USD 12.52 Billion by 2027 at a CAGR of 10.6%

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 Global Smart Contact Lens Market report presents a comprehensive analysis of the Smart Contact Lens market that offers valuable insights to the investors, stakeholders, and business strategists for the forecast period of 2020-2027. The report on the global Smart Contact Lens market presents the expected growth rate and market value the market is expected to achieve in the coming years. The market is poised to reach a valuation of USD 12.52 Billion by 2027, growing at a rate of 10.6% CAGR, from its valuation of USD 5.71 billion in 2019.

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Smart Contact Lens market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others.

The leading players in the market include 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.

Market Overview:

The report bifurcates the Smart Contact Lens market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

  • 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

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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.

Europe is following North America closely due to the widespread use of contact lenses and rising investments in research for smart contact lens. In the Asia Pacific region, countries like China and India are projected to indicate exponential expansion in the market due to the growing chronic disease of diabetes.

The various regions analyzed in the report include:

  • 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)

Research Report on the Smart Contact Lens Market Addresses the Following Key Questions:

  • Who are the dominant players of the Smart Contact Lens market?
  • Which regional market is anticipated to have a high growth rate over the projected period?
  • What consumer trends and demands are expected to influence the operations of the market players in the Smart Contact Lens market?
  • What are the key growth drivers and restraining factors of the Smart Contact Lens market?
  • What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
  • What is the overall impact of the COVID-19 pandemic on the Smart Contact Lens market and its key segments?

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Table of Content

Chapter 1. Methodology & Sources

    1.1. Market Definition

    1.2. Research Scope

    1.3. Methodology

    1.4. Research Sources

          1.4.1. Primary

          1.4.2. Secondary

          1.4.3. Paid Sources

    1.5. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Smart Contact Lenses Market Segmentation & Impact Analysis

    4.1. Smart Contact Lenses Market Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                    4.2.2.1. Growing demand for effective glaucoma management solutions

                    4.2.2.2. The rising cases of diabetes-related eye problems

                    4.2.2.3. Increasing advanced technology like virtual and augmented reality

          4.2.3. Market restraints analysis

                    4.2.3.1. High cost product

                    4.2.3.2. Extreme competition among leading players

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. Porter’s Five Forces Analysis

    4.6. Competitive Metric Space Analysis

    4.7. Price trend Analysis

    4.8. Covid-19 Impact Analysis

Continue…!

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Website: https://www.emergenresearch.com/industry-report/smart-contact-lens-market

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