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Smart Contact Lenses Market Trends

Report ID: GMI7538
Published Date: Nov 2023
Report Format: PDF

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Smart Contact Lenses Market Trends

The market is influenced by several factors such as growing demand for integrated augmented reality (AR) features, surging emphasis on user comfort and wearability, increasing advancements in material science, and rising demand for customization and personalization in wearable technology. These factors collectively contribute to the evolving landscape of the market.

Smart contact lenses as drug delivery devices have become the focus of research and development. These lenses are designed to deliver pharmaceutical substances directly into the eye, providing a novel method to ocular medicine administration for disorders including glaucoma.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Smart contact lenses industry size was USD 329.5 million in 2022 and is estimated to surpass USD 1.4 billion by 2032 attributed to the surging demand for continuous health monitoring and the expanding aging population worldwide

The daily-wear soft lenses type segment reached USD 155.8 million in 2022 due to the reduced risk of infection associated with improper cleaning and storage practices.

The poly (2-hydroxyethyl methacrylate) (PHEMA) material segment held over 33% of the smart contact lenses market share in 2022 and is anticipated to witness robust growth through 2032 owing to advantages, such as minimized risk of irritation, discomfort, and adverse reactions

Some of the major smart contact lenses providers are Sensimed, Innovega Inc., InWith Corporation, Johnson & Johnson Services Inc., Samsung Electronics Co., Ltd., Sony Group Corporation, RaayonNova LLC, Azalea Vision, and EP Global Communications, Inc.