Smart devices are now gaining popularity across the globe due to their various advantages such as continuous monitoring of various health indicators. Devices such as smart watches, smart lenses and smart lenses are mostly widely used for fitness and diabetes monitoring. In August 2015, smart contact lenses have received U.S approval for monitoring intraocular pressure.
Contact lens are thin lenses are worn to improve vision or for aesthetic use. An increase in the trend of using contact lens has been noticed in last few years. Contact lenses eliminate the need of using spectacles. Technological advancement in smart contact lenses is on the verge of creating something innovative with a goal to minimize vision problems in people. Smart contact lenses have sensors that detect glucose levels in tears and intraocular pressure. Most of the youth are attracted towards the use of contact lenses with changing lifestyle and awareness about trending cosmetic products. The youth is also influenced by the growing trend of smart medical devices, thus influencing the market growth.
The growth of smart contact lenses market is attributed to increasing prevalence of diabetes, changing trends in eye wear, replacement of smart glasses by smart lenses and demand of wearable medical devices for continuously monitoring health condition of patients. The restrain for this market is the price of smart contact lenses. Also, fierce competition among major market players creates barriers for new entrants in the market. Key players in eth market are engaged in innovative product development to withstand their position in the market.
Smart Contact Lenses Market Key Players
Samsung (South Korea), Sony (Japan), Alcon (U.S), Google (U.S), Sensimed SA (Switzerland)
Segmentation:
The global smart contact lenses market has been segmented on the basis of application which includes continuous glucose monitoring, intraocular pressure monitoring and other applications. Other applications are cholesterol detection, sodium detection and alcohol detection.
On the basis of end users market is segmented into hospitals, clinics and home care settings.
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