Smart Contact Lenses Market Analysis and Forecast, 2019-2028 - Market Report by RationalStat

WILMINGTON, Del. - Sept. 1, 2023 - PRLog -- The report entitled "Smart Contact Lenses Market" analyzes the global and regional market according to the application, the end user and location. A thorough report offers comprehensive historical and projected market size, along with a forecast analysis.

Market Overview and Dynamics

The market for smart contact lenses is projected to expand at a rate of 28.4 percent over the 2022-2028 forecast timeframe. A rise in the prevalence of glaucoma and a growing population of older people who suffer from presbyopia are driving the market's expansion.

Segmental Analysis

• Based on applications the glucose monitoring segment is expected to account for the largest portion. The lenses are equipped with tiny sensors with wireless chips to detect physiological parameters such as the intraocular pressure of diabetics.
• Based on the region, North America is expected to dominate the market of the global smart contact lens market due to the wide-ranging awareness of people of this new technology.

Competition Analysis

The global smart contact lenses market observes significant competition as a result of the presence of various established players in the market. New entrants and incumbent firms are investing in the global smart contact lenses market by examining and assessing developing models. Some of the prominent players have devised new business models that are currently on the market.

• 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.

Some of the leading players involved in the smart contact lenses 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.

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About RationalStat LLC

RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies.  The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store (https://store.rationalstat.com/) annually.

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