Smart Contact Lenses Market Research Report- Global Forecast Till 2023

Smart Contact Lenses Market Research Report- Global Forecast Till 2023

ID: MRFR/HC/0680-HCRR | November, 2017 | Region: Global | 80 pages | Half-Cooked Research Reports

Global Smart Contact Lenses Information, By Application (Continuous Glucose Monitoring, Intraocular Pressure Monitoring), By End User Type (Hospitals, Clinics And Home Care Settings) - Forecast Till 2023


Intended Audience

  • Healthcare organizations

  • Contract Research Organizations (CROs)

  • Research and Development (R&D) Companies

  • Academic Medical Institutes and Universities


Figure 1: Global Smart contact lenses market, by application, 2016:

Global Smart contact lenses market


Source: Press Release, Company presentation, annual reports


 


Figure 2: Market Synopsis

Smart Contact Lenses Market


Sources: Press Release, presentation, company website, annual reports, government records, journals expert interview.


Market Scenario:


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.


According to findings from the WHO, in 2014, approximately 422 million people suffered from diabetes across the globe.


Global market of smart contact lenses is expected to reach USD 7.2 billion in 2023 from USD 4.5 billion in 2016 with a CAGR of approximately 10.4% during the forecast period 2017-2023.


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.


Regional Analysis:


America is the largest market for smart contact lenses. Increasing diabetic population, demand of eye care solutions with innovative technology, increasing adoption of upgraded wearable medical devices and trends in cosmetics drive the growth of this market in America. Additionally, rising awareness about fitness and availability of wearable medical devices. Furthermore, according to the American Diabetes Association, in 2015, approximately 30.3 million Americans which is 9.4% of the American population were suffering from diabetes.


Europe is the second largest market due to an increase in expenditure on research in smart medical devices. Extensive use of smart contact lenses in the European countries also drives the market growth. According to the report published by World Health Organization (WHO) in 2015, over 60 million people were suffering from diabetes in the European Region.


Asia Pacific the prevalence of chronic diseases such as diabetes is increasing from last few years, creating growth opportunities for the market. However, market shows steady growth in this region because smart medical devices are not affordable for most of the developing countries, and unawareness regarding the use of smart devices. China and India are expected to show exponential growth in the market.


The market shows slow growth in Middle East and Africa because of low technology penetration. In Africa, there is an increasing demand for primary care services and unavailabity of medical care restrains the growth of the market.


Key Players


Samsung (South Korea), Sony (Japan), Alcon (U.S), Google (U.S), Sensimed SA (Switzerland)

Table of Content    

1.    Report Prologue    

2.    Market Introduction    


      2.1    Definition    

      2.2    Scope of the Study    

            2.2.1    Research Objective    

            2.2.2    Assumptions    

            2.2.3    Limitations    

3.    Research Methodology

      3.1    Introduction

      3.2    Primary Research    

      3.3    Secondary research    

      3.4    Market Size Estimation

4.    Market Dynamics

      4.1    Drivers    

      4.2    Restraints

      4.3    Opportunities    

      4.4    Challenges

      4.5    Macroeconomic Indicators

      4.6    Technology Trends & Assessment            

5.    Market Factor Analysis

      5.1    Porters Five Forces Analysis

            5.1.1    Bargaining Power of Suppliers    

            5.1.2    Bargaining Power of Buyers

            5.1.3    Threat of New Entrants    

            5.1.4    Threat of Substitutes    

            5.1.5    Intensity of Rivalry    

      5.2    Value Chain Analysis

      5.3    Investment Feasibility Analysis    

      5.4    Pricing Analysis

6.    Global Smart Contact Lenses Market, by Devices

     6.1    Introduction

      6.2    Continuous Glucose Monitoring

            6.2.1    Market Estimates & Forecast, 2017-2023

      6.3    Intraocular Pressure Monitoring

            6.3.1    Market Estimates & Forecast, 2017-2023

7.    Global Smart Contact Lenses Market, by End User     

      7.1    Introduction

      7.2    Hospitals

            7.2.1    Market Estimates & Forecast, 2017-2023

      7.3    Clinics

            7.3.1    Market Estimates & Forecast, 2017-2023

      7.4    Home Care Settings

            7.4.1    Market Estimates & Forecast, 2017-2023

8.    Global Smart Contact Lenses Market, by Region

      8.1    Introduction

      8.2    Americas

            8.2.1    North America

                8.2.1.1    US

                8.2.1.1    Canada

            8.2.2    South America

      8.3    Europe

            8.3.1    Western Europe

                8.3.1.1    Germany

                8.3.1.2    France

                8.3.1.3    UK

                8.3.1.4    Italy

                8.3.1.5    Spain

                8.3.1.6    Rest of Western Europe

            8.3.2    Eastern Europe

      8.4    Asia Pacific

            8.4.1    Japan

            8.4.2    China

            8.4.3    India

            8.4.4    Australia

            8.4.5    Republic of Korea

            8.4.6    Rest of Asia Pacific

      8.5    The Middle East & Africa

            8.5.1    United Arab Emirates

            8.5.2     Saudi Arabia

            8.5.3    Oman

            8.5.4    Kuwait

            8.5.5    Qatar

            8.5.6    Rest of the Middle East & Africa

9    Company Landscape    

      9.1    Introduction    

      9.2    Market Share Analysis    

      9.3    Key Development & Strategies    

            9.3.1    Key Developments    

10    Company Profiles    

      10.1    Samsung    

            10.1.1    Company Overview    

            10.1.2    Product Overview    

            10.1.3    Financials    

            10.1.4    SWOT Analysis    

      10.2    Sony    

            10.2.1    Company Overview    

            10.2.2    Product Overview    

            10.2.3    Financial Overview    

            10.2.4    Key Developments    

            10.2.5    SWOT Analysis    

      10.3     Alcon     

            10.3.1    Company Overview    

            10.3.2    Product Overview    

            10.3.3    Financial Overview

            10.3.4    Key Development    

            10.3.5    SWOT Analysis    

      10.4    Google 

            10.4.1    Company Overview    

            10.4.2    Product/Business Segment Overview    

            10.4.3    Financial Overview    

            10.4.4    Key Development    

            10.4.5    SWOT Analysis    

      10.5    Sensimed SA

            10.5.1    Company Overview    

            10.5.2    Product Overview    

            10.5.3    Financial overview    

            10.5.4    Key Developments

    10.6    Others    

11    MRFR Conclusion    

      11.1    Key Findings    

            11.1.1    From CEO’s View Point    

            11.1.2    Unmet Needs of the Market    

      11.2    Key Companies to Watch    

      11.3    Prediction of Medical Device Industry

12    Appendix



LIST OF TABLES

Table 1        Smart Contact Lenses Industry Synopsis, 2017-2023

Table 2        Global Smart Contact Lenses Market Estimates and Forecast, 2017-2023, (USD Million)

Table 3        Global Smart Contact Lenses Market by Region, 2017-2023, (USD Million)

Table 4        Global Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 5        Global Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 6                 North America Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 7        North America Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 8    US Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 9    US Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 11    Canada Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 12    Canada Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 13    South America Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 14    South America Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 15    Europe Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 16    Europe Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 17    Western Europe Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 18    Western Europe Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 19    Eastern Europe Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 20    Eastern Europe Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 21    Asia Pacific Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 22    Asia Pacific Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

Table 23    Middle East & Africa Smart Contact Lenses Market by Devices, 2017-2023, (USD Million)

Table 24    Middle East & Africa Smart Contact Lenses Market by End User, 2017-2023, (USD Million)

LIST OF FIGURES

Figure 1    Research Process

Figure 2    Segmentation for Global Smart Contact Lenses Market

Figure 3    Segmentation Market Dynamics for Smart Contact Lenses Market

Figure 4    Global Smart Contact Lenses Market Share, by Devices, 2016

Figure 5    Global Smart Contact Lenses Market Share, by End User, 2016

Figure 6    Global Smart Contact Lenses Market Share, by Region, 2016

Figure 7    North America Smart Contact Lenses Market Share, by Country, 2016

Figure 8    Europe Smart Contact Lenses Market Share, by Country, 2016

Figure 9    Asia Pacific Smart Contact Lenses Market Share, by Country, 2016

Figure 10    Middle East & Africa Smart Contact Lenses Market Share, by Country, 2016

Figure 11    Global Smart Contact Lenses Market: Company Share Analysis, 2016 (%)

Figure 12    Samsung: Key Financials

Figure 13    Samsung: Segmental Revenue

Figure 14    Samsung: Geographical Revenue

Figure 15    Sony: Key Financials

Figure 16    Sony: Segmental Revenue

Figure 17    Sony: Geographical Revenue

Figure 18     Alcon: Key Financials

Figure 19     Alcon: Segmental Revenue

Figure 20     Alcon: Geographical Revenue

Figure 21    Google: Key Financials

Figure 22    Google: Segmental Revenue

Figure 23    Google: Geographical Revenue

Figure 24    Cynosure, Inc.: Key Financials

Figure 25    Cynosure, Inc.: Segmental Revenue

Figure 26    Cynosure, Inc.: Geographical Revenue

Figure 27    Sensimed SA: Key Financials

Figure 28    Sensimed SA: Segmental Revenue

Figure 29    Sensimed SA: Geographical Revenue

Figure 30    Cutera, Inc.: Key Financials

Figure 31    Cutera, Inc.: Segmental Revenue

Figure 32    Cutera, Inc.: Geographical Revenue