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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Smart Contact Lenses market for 2018-2023.
A contact lens, or simply contact or CL, is a thin lens placed directly on the surface of the eye. CLs are considered medical devices and can be worn to correct vision, or for cosmetic or therapeutic reasons. While, Smart Contact Lenses mains that a contact lens integrate a set of electronic components and formed a specific function. These lenses may be available in the future but are currently in proof-of concept or early to mid-stage development. They may be used to monitor diabetes by measuring tear glucose, intraocular pressure, or for presbyopia and myopia control, low vision. In addition, some contact lenses also integrated social entertainment features, for example you can simultaneous viewing of the world around you while are also viewing a small screen in a frame mounted projection system for learning, gaming or augmented reality. Smart contact lens technology involves filters, sensors, microchips and other miniaturized electronics which are embedded within contact lenses Drug-device combinations (contact lenses which elute pharmaceuticals) will be mentioned but not emphasized.
The technical barriers of smart contact lenses are high, and the smart contact lenses market concentration degree is relatively lower. The manufacturing bases concentration only in Switzerland; there is only one manufacturer in the world. And there are some companies researching, such as Google, Samsung, Sony, PEGL and others.
In the past few years, as the main raw material price was relatively stable, with the addition of a sharp increase in production capacity, expected that the smart contact lenses raw material price will be stable in the short term. However, the improvement of Competitiveness, energy, transportation costs, and employee wages, will play a significant role in promoting the cost of smart contact lenses.
There are companies focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and develop new products. But the high skills requirement may cause the study futile.
Over the next five years, LPI(LP Information) projects that Smart Contact Lenses will register a 67.6% CAGR in terms of revenue, reach US$ 1270 million by 2023, from US$ 57 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Smart Contact Lenses market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Disposable Type
- Frequent Replacement Type
Segmentation by application:
- Medical Field
- Military Field
- Social Entertainment
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Sensimed AG
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Smart Contact Lenses consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Smart Contact Lenses market by identifying its various subsegments.
- Focuses on the key global Smart Contact Lenses manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Smart Contact Lenses with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Smart Contact Lenses submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.